Some food items’ traders and consumers in Lagos State have expressed excitement over the recent drop in the prices of foodstuff in the state.
The consumers and traders made this known in Lagos on Sunday, March 2, 2025.
They, however, hoped for the sustainability of the price drop as consumers were beginning to enjoy the respite.
A foodstuff trader in the Dopemu area of Lagos State, Sunday Okwudiri, said the price drop was beneficial to both consumers and traders, a situation he attributed to reduced cost of transportation.
Okwudiri said: “It is true that the prices of most food items have dropped and we are grateful for that. Food items such as rice, beans, and garri have witnessed a commensurate drop in their prices.
“We sold a 50kg bag of rice last December between N80,000 and N90,000, but now the same quantity of rice sells between N70,000 and N75,000.
“We really cannot tell the reason for the drop in the food prices but one good indicator is that the expenses incurred in logistics have significantly dropped.
“Like traders will say, ‘road don free small’. We hope it continues like that.”
Another foodstuff trader in the Agege area of Lagos State, John Nwabueze, also confirmed the recent drop in the price of food items, which he attributed to the harvest season of some produce.
Nwabueze stated: “The price of food items especially rice and beans is really dropping gradually as we have observed since the year began.
“As of the first week of January, we sold a bag of rice between N90,000 and N96,000 but now the same bag goes for N76,000.
“Beans have been dropping more and more since last year. As of November 2024, we had beans at the highest price. An average bag was sold for as high as N230,000 to N270,000 but now the same quantity sells for N80,000.
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“We really cannot tell the reasons for the drop in the price of these food items but we are glad they are dropping.
“We are also in the harvest season for some of these produce.”
A foodstuff trader in the Amuwo area of Lagos, Judith Amen, also corroborated the slight drop in some food prices.
Amen said: “Well, there is a slight drop in the price of rice but not so much. A bag of good quality rice sells at N82,000 as against N90,000 to N95,000 it was sold for earlier.
“The bag of rice that sell at N75,000 per bag are not high quality rice as some may get mushy easily when boiled.
“The price of beans have been dropping since late last year. This is the season of beans because it is being harvested.
“A 60kg of beans used to sell up to N300,000 per bag but now sells between N150,000 and N90,000 depending on the variety.
“A bag of garri now sells between N35,000 and N45, 000 as against N60,000. So, we can say there is a drop.”
Also speaking on the development, a resident of Agege area of Lagos, Lilian Agunbiade, said the joy of being able to buy foodstuff and getting all supplies is next to none.
She said: “I went to the market this weekend to stock up for my household and my business and I observed some prices of the foodstuff items have actually dropped.
“This drop in price is indeed a welcome development. I bought a paint bucket of garri between N3,200 and N3,500 in January but it sells at N2,000 for a paint bucket.
“Also, the price of vegetable oil has considerably dropped. As of December 2024, it sold for more than N100,000 for a 25 litre keg.
“But presently, the same quantity of vegetable oil has dropped down to N70,000 or N75,000 depending on the brand.
“Also, the price of baking flour has also dropped. A 50kg bag of all purpose flour used to sell at N62,000 but now it sells at N59,000.
“Generally, I observed all the prices of foodstuff items dropped a little bit almost across all products sold in the market.
“I think the drop may be related to the drop of dollar in comparison to naira. We hope it continues like this.”
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