Food prices in the Federal Capital Territory (FCT) and surrounding areas have started declining, reflecting shifts in market dynamics.
According to a survey from our source across major markets, it shows significant price reductions, though variations exist based on location.
At Kado Market, a 50kg bag of rice, previously sold for ₦97,000–₦100,000, now costs ₦87,000, while a 25kg bag has dropped to ₦43,500.
In Garki Market, the same 50kg bag now sells for ₦81,000–₦83,000, compared to ₦92,000 in January.
Nyanya Market offers a 50kg bag for ₦70,000–₦83,000, down from ₦90,000–₦93,000 earlier this year.
At Apo Fish Market, a 50kg bag of rice, once priced at ₦105,000, has dropped to ₦93,000.
Onion Prices Drop Significantly
At Orange Market, a bag of onions now costs ₦50,000–₦55,000, compared to ₦90,000–₦100,000 in January.
In Garki Market, onion prices have declined from ₦180,000–₦200,000 to ₦55,000–₦60,000 per bag.
Palm Oil, Groundnut Oil, and Garri Prices Also Decline
A 25-litre keg of palm oil, formerly ₦75,000–₦83,000, now costs ₦50,000–₦55,000 at Nyanya Market.
At Apo Fish Market, a 25-litre keg of Terra groundnut oil has dropped from ₦88,000 to ₦84,000, while a four-litre keg now sells for ₦15,500, down from ₦17,500–₦20,000.
A bag of Bendel (yellow) garri, previously ₦57,000–₦60,000, now costs ₦55,000 at Karu Market.
Beans Prices Reduce in Major Market
At Kado Market, a big bag of white beans, once priced at ₦150,000–₦200,000, now sells for ₦115,000–₦120,000.
A mudu of white beans now costs ₦1,700–₦1,800, down from ₦2,100–₦2,300.
A mudu of brown beans, previously ₦2,200–₦2,800, now sells for ₦1,800–₦2,000 at Orozo Market.
Price Hikes for Yam, Pepper, and Plantain
Despite general reductions, some food items have recorded significant price increases.
At Wuse Market, five medium-sized tubers of yam now cost ₦15,000, up from ₦8,000–₦10,000.
In Lugbe and Orozo Markets, prices have risen from ₦6,000–₦7,000 to ₦10,000.
A bunch of plantain, previously ₦6,000, now sells for ₦8,000–₦9,000.
A big bag of pepper, initially ₦31,000, now costs ₦73,000, while a big basket of shombo has increased from ₦30,000 to ₦36,000.
Traders and Consumers React
Consumers acknowledge the price drops but stress that further reductions are needed to ease financial burdens.
Mrs. Amina Suleiman, a mother of four, welcomed the trend but urged the government to improve security and infrastructure.
Mr. Albert Okoro, a rice wholesaler in Garki Market, linked the price drop to reduced fuel costs, which lowered transportation expenses.
Experts and traders agree that while the trend is encouraging, sustained policies are necessary to maintain price stability.
