Gradually, the prices of foods have continued to slide. A market survey of Lagos and some other major cities indicated this.
As of last week, a 50kg bag of long-grain foreign rice was selling for between N82,000 and N85,000, depending on the brand, at the Ogba retail market, Ile-Epo, and Iddo markets in Lagos.
In the last quarter of last year, we reported that the same rice sold between N95,000-N100,000. Similarly, we reported that 50kg of imported short-grain rice sold for N80,000-N90,000, but at the time of going to press, it was selling between N65,000- N67,000, depending on the brand.
50kg local parboiled rice which was selling for between N90, 000-N100, 000 now sells for about N89, 000 depending on the source. However, about three years ago, none of this rice was selling for more than N50,000.
Yam, during the second quarter of last year, was a no-go area for most families because the price skyrocketed such that a tuber of yam currently selling for N3,000 sold for N7,000 then. It was so bad that sellers started doing what they never did before, which was cutting up tubers in pieces to make them affordable for consumers.
Our correspondent gathered that a paint bucket of yellow garri is now selling for N3,000, while the white version sells for N2,500 in Lagos. In Enugu State, a paint bucket of white one is N2,300, while the yellow garri sells for N2,800. This time last year in Lagos, it was sold for N4,000 and N3, 000 respectively.
Meanwhile, a 60kg bag of garri now sells for N37- 500-N45,000 depending on the colour and texture; this time last year, it was more expensive.
No one in Nigeria will forget how the price of beans suddenly went up so high about five months ago that many families removed it from their menu. However, being one the major sources of protein and cheaper too, substitutes had to be looked for, and that was a difficult task.
The average D’Rica cup, [popular measurement cup] that was formally selling for between N500-N800 rose to N2,000-N2,500 but as at last week in Lagos, beans using the same measurement sells for between N1,000-N1,4000 depending on the brand, whether it is black eyed beans, oloyin (honey), Olo etcetera.
Similarly, a paint bucket [4 liters] of millet, guinea corn, which sold for N4,500, now sells for N4,000. The same quantity of Soya beans which sold for N6,500 now sells for N6,000, while the same measurement of wheat that sold for N5,500, sells for N5,000 as at the time of going to the press.
