Food prices, according to a survey conducted by Nairametrics, have witnessed a reduction in Nigeria, even as the country inches towards lockdown.
This is coming at a time Lagos State government announced drastic measures to contain the spread the Coronavirus Disease.
According to the research, prices of major food items reduced significantly across major markets where the survey was carried out.
Read Also:
Major markets within the state visited by the survey team include Mushin, Daleko, Oyingbo, Idi-Oro and the ever-busy Mile 12 International Market.
Although, increases were observed in the prices of garri, yam and crayfish, other items such as onions, pepper, maize and tomato witnessed significant fall in prices compared to the previous week, despite panic purchases this week.
Food items with reduced prices listed in the report are as follows: N350 fall in the price of 25-litre local vegetable oil, which currently sells for N12,575; a big basket of tomatoes, which sold at N7,500, currently sells at N5,500; a big bag of dry onions, which sold at N30,000, now sells for N13,000.
Meanwhile, a bag of melon that sold for N49,000 two weeks ago, now sells for N41,000, and a bag of pepper, which previously sold for N7,000, now sells for N5,500 or less.
But food items that recorded significant rise in prices include a bag of garri, which sells at N7,500 from N6,500. A bag of crayfish sells for N15,500 from N12,000, while a tuber of yam sells for N1,375 from N875.
These changes in prices occurred as shutdown of public places like the markets and motor parks looms, and people were stocking foods for the ‘rainy day’.
