Amid the ongoing hunger protests in Lagos State, prices of some perishable food items have dropped significantly.
The nationwide protest, known as #EndBadGovernanceinNigeria, began on August 1, 2024, and aims to draw attention to the economic hardships faced by Nigerians. It is scheduled to end on August 10.
In interviews with the News Agency of Nigeria (NAN), traders and buyers at Ile-epo food market in the Alimosho/Agege area confirmed the sharp decline in food prices. The protests have resulted in fewer market activities, with traders forced to reduce prices to avoid losses due to low patronage.
Rabiu Aliu, a tomato trader at Ile-epo market, explained, “A 50kg basket of tomatoes now sells for between N40,000 and N50,000, down from N80,000 to N100,000 two weeks ago. A 25kg basket sells for N18,000 to N19,000, compared to N30,000 to N40,000 two weeks ago. We have no choice but to sell off because there are few customers. The purchasing power is very low right now.”
Another trader, Mukit Afolabi, also noted the impact of the protest on food prices. “On the first day of the protest, tomatoes were even cheaper because there was no one to buy them. I bought a 5kg basket of tomatoes for N4,000, which sold for N12,000 two weeks ago. The protest is definitely a factor in the price drop,” he said.
However, Afolabi mentioned that the price of rodo (scotch bonnet pepper) remains high. “On Monday, a bag was sold for N40,000, but today it’s N84,000 because it’s unavailable in the market. No produce truck has delivered any pepper since Wednesday, the day before the protest began.”
Foodstuff trader Ibrahim Ahmed also reported a decrease in the prices of rice and beans. “A 50kg bag of short grain rice now sells for N73,000, down from N83,000 last month. Long grain rice sells for N78,000 per 50kg bag, compared to N87,000 to N88,000. A paint bucket of honey beans now sells for N10,000, down from N12,000 in July, and other varieties sell for between N8,000 and N9,000,” Ahmed said.
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Despite the drop in some food prices, the prices of groundnut oil and palm oil have surged. Hope Osagie, a trader at Agege Market, noted, “A 25-litre container of groundnut oil now sells for N60,000, up from N38,000 a month ago. A 25-litre container of palm oil sells for N36,000, compared to N27,000 in July. We don’t know the exact reason for the hike, but food prices have been unpredictable.”
Buyers expressed mixed reactions to the price changes. Anuoluwa Olayinka, a buyer, expressed excitement over the lower prices. “I bought as much as I could afford because I saw the prices had dropped. There are just a few people in the market, which is unusual for a Friday. I guess traders just want to sell off to minimize losses,” she said.
Another buyer, Ada Uzor, commented on the unpredictable nature of food prices. “Food prices are unpredictable, but I think the protest contributed to the slight price drop of some items,” Uzor said.