Market Value: Pepper up by 100%, Egusi leaped amidst combined market sign in Lagos
Regardless of a welcome, albeit slight, easing of costs for main staple meals like rice, vegetable oil, onion, tomato, and wheat meal, Lagos markets proceed to supply a combined expertise for consumers this month.
Whereas the drop in costs of important meals objects has supplied some reduction, households are actually contending with rising prices of different commodities like pepper, frozen meals, egusi, and ogbono (bush mango seeds).
The most recent month-to-month survey by the Nairametrics analysis crew for March 2025 reveals a market marked by volatility, the place reductions in sure meals classes are being counterbalanced by hikes in others, leaving shoppers to navigate a extremely unpredictable pricing panorama.
Breakdown of March 2025 meals value shifts
The most recent market value survey reported on this article is a results of a bodily market survey carried out by Nairametrics in 4 markets in Lagos – Mushin, Oyingbo, Mile 12, and Daleko.
The survey displays a posh pricing atmosphere the place shoppers are experiencing each reduction and pressure concurrently.
- Pepper: The value of pepper mounted strain as a medium bag rose sharply by 132.14%, posting the best value improve for the month, with the massive bag rising by 50%.
- Frozen Meals: Notably, the value of frozen meals particularly the value of Titus (mackerel) and Kote (horse mackerel) surged by 87.5% and 40.63% respectively.
- Different staple meals: Value improve was additionally recorded for Irish potato, 500g of bournvita jar, egusi (melon), and ogbono.
This uneven pricing sample is typical of Nigeria’s meals provide chain, the place elements like seasonality, gas costs, transportation logistics, and regional harvest yields all converge to create unstable value factors.
On the flip facet, some meals objects akin to 5ltrs of palm oil and greens, a giant bag of dry onions, 50kg of international and native rice, 1kg of Honeywell wheatmeal, and a giant basket of tomatoes recorded value declines.
Nevertheless, costs of some important items remained comparatively secure, experiencing solely marginal fluctuations.
Market sentiment
The market survey this month at Mushin, Mile 12, Daleko, and Oyingbo, Lagos’ key meals hubs, reveals a catch between average reduction and protracted challenges.
- The disparity in costs is creating combined emotions amongst consumers. Some categorical cautious optimism, whereas others voice concern over the surge in important soup substances.
A dealer, Mrs. Amaka at Mushin market, shared, “The drop in rice and oil costs is a reduction, however the hike in egusi and ogbono is irritating. It’s like balancing a scale that by no means stays even.”
In the meantime, Mr. Sodiq, a dealer at Mile 12, defined, “The value of pepper went up due to provide points from the North as a consequence of transportation prices and climate. However tomatoes dropped as farmers had a bumper harvest this season.”
Frozen meals vendor, Ms Adelani, at Daleko famous that the elevated value is being pushed by import problems and unstable forex alternate.
Meals objects that skilled value will increase (pressure for shoppers)
- The value of a medium bag of pepper rose sharply from N28,000 to N65,000, indicating a 132.14% improve; with a giant bag promoting for a median value of N75,000 from N50,000, posting a 50% value improve.
- The value of frozen meals objects, Titus and Kote, elevated by 87.5% and 40.63% respectively; as a consequence of logistics and provide chain points. A kilo of Titus fish now sells at N6,000 in comparison with N3,200 in February.
- A bag of Egusi, previously N257,000, now sells between N300,000 and N320,000, recording a 24.51% improve.
- A giant bag of Irish potatoes recorded a 23.4% improve to now promote for a median value of N250,000.
- A 500g jar of Bournvita elevated by 17.34% to promote for N4,940 from N4,210 recorded within the month of February.
- The value of Ogbono noticed a big leap, shifting by 12.73% from N550,000 per bag to N620,000.
Staple meals that recorded value reductions (reduction for shoppers)
- A 5-litre keg of palm oil decreased from N12,500 in February to N9,300 in March, reflecting a decline of 25.6%, whereas a 5-liter keg of vegetable oil recorded a dip of 19.35% to now promote for a median value of N12,500 from N15,500.
- The value of a 70kg carton of Mini-mie noodles now sells for a median of N8,000 from the preliminary common of N9,500, displaying a lower of 15.79%.
- A giant sack of dry onions, beforehand N115,000, now sells for N100,000. This reveals a lower of 13.04%
- The value of a 50kg bag of Cap parboiled rice dropped from N78,000 to a median of N68,000, easing some strain on family staples and reflecting a 12.82% dip. In the identical vein, the value of Mama Pleasure lowered by 11.34% to now promote for a median value of N86,000.
- The 1kg bag of Honeywell wheat meal fell by 12.28%, from N1,710 to N1,500.
- There was a marginal discount in tomato costs, with a giant basket now promoting for a median of N23,000, down from N25,300 within the prior month.
In regards to the Nairametrics Meals Value Survey
- The Nairametrics Meals Value Watch is a month-to-month market survey monitoring the costs of main meals objects throughout Nigeria.
- This report particularly covers 4 key markets in Lagos State: Mushin Market, Daleko Market, Oyingbo Market, and Mile 12 Market.
- The survey gives up-to-date insights into meals value tendencies, serving to companies, policymakers, and shoppers make knowledgeable choices.
