For months now, the price of rice has been on a steady rise, however with Sallah just by the corner, the price skyrockets again.
Even after a brief stabilisation of the price of rice due to the establishment of more rice farms, one bag of rice sells for N17,500 and a custard bucket sells for N2000. This recent price is due to the high demand of the product and also because of the Muslim’s celebration.
Traders have also attributed the exorbitant prices to the high rate of dollar and the restriction placed on importers of certain food items. According to a market survey carried out by Naij, here are the prices of some essential food items in three markets namely, Mile 12, Ketu and Ikosi. Augustine Eze, a trader who sells foodstuffs like rice, beans, garri, groundnut-oil, crayfish, egusi and ogbono explained the prices of these items in details.
“The price of egusi now has changed. But there is a new one in the market which ensured that the price of the regular ones has reduced. The price of the stuff has reduced due to the large quantity of the new egusi in the market. Before now, a paint (plastic) of egusi was sold for N1,100 but now it costs N900. The bag which cost about N40,000 before is now being sold at the rate of N35,000, depending on the size of the bag (either big or small).
“For ogbono, the price increased to N120,000 per bag in the month of May, and then it reduced to N47,000. But due to the exchange rate of dollar now, the price has increased to N85,000. A derica costs N1,200 as against the N800 for which people bought in previous months.”
Augustine further explained that crayfish is relatively cheap as it doesn’t have a fixed price, adding that a 25-litre gallon of Kings groundnut oil was sold at N10,000 before but sells at N13, 000. Similarly, 25 litres of palm oil, that was sold from N7,000 before, now sells from N9,000.
“A bag of garri costs N7, 000 depending on the colour and the cost of transportation. And a paint (plastic) now sells for N600 but was sold at N350 a few months ago, ” he continued, “while a bag of rice which was sold for about N12, 500 before, now sells for N17, 500 depending on the brand and quality as well.”
Meanwhile, there is no fixed price for beans. He said: “We have beans of N14, 000, N17,000, N27,000, and so on. Sometimes the type of beans and the size of the bag would determine the market price. “Those who are buying paint before now buy derica or cup. The way things are, people are managing due to scarcity of money.”
Nigerians are patiently waiting for when all of these expensive living will come to an end. Meanwhile, tomotoes, that was once a hot commodity, has now become very cheap, it is now pepper that is recently pricing itself as expensive. Whatever happens, Nigerians will survive.