The prices of essential food items in Nigeria have continued to fluctuate due to several economic and market factors, including rising transportation costs, seasonal availability, exchange rate fluctuations, and regional market dynamics.
These changes have had a direct impact on household budgets and food affordability for millions of Nigerians.
Below is an updated breakdown of the current prices for key food commodities across various markets in Nigeria.
1. Rice Prices in Nigeria
Rice remains a staple food in most Nigerian households, but its cost has been rising due to importation restrictions, currency devaluation, and production challenges.
Foreign Rice (50kg bag) – Currently selling between ₦72,000 and ₦75,000, depending on the brand and location.
Local Rice (50kg bag) – Priced slightly lower, between ₦69,000 and ₦70,000.
Despite government efforts to boost local rice production, demand for foreign rice remains high, contributing to its relatively higher price.
2. Beans Prices
Beans are a major protein source in Nigerian diets, and their price has surged in recent months.
White Beans (100kg bag) – Currently selling for approximately ₦110,000, a sharp increase from ₦89,000 the previous month.
The price spike is largely attributed to supply shortages, increased transport costs, and seasonal changes affecting bean harvests.
3. Tomato Prices
Tomatoes, an essential ingredient in Nigerian cuisine, have also seen price increases due to supply chain issues and seasonal variations.
Fresh Tomatoes (small basket) – Now priced between ₦3,000 and ₦3,500, reflecting a notable increase from previous months.
Price fluctuations in tomatoes are common due to perishability and weather conditions affecting production in key farming areas.
4. Prices of Noodles and Spaghetti
Instant noodles and spaghetti remain popular choices for quick and affordable meals, but their prices have also risen.
Indomie Noodles (70g pack, per carton) – Costs between ₦3,000 and ₦3,800, depending on market location.
Spaghetti (500g pack, per carton) – Priced between ₦6,700 and ₦6,800.
The increase in prices is linked to higher production costs and inflation affecting food manufacturing companies.
5. Edible Oil Prices
The cost of cooking oil has surged significantly, impacting household cooking expenses.
Groundnut Oil (25-litre container) – Now selling for approximately ₦32,500.
Palm Oil (75cl bottle) – Increased from ₦1,000 to ₦1,500.
Rising oil prices are attributed to increased demand, processing costs, and transportation expenses.
6. Prices of Other Foodstuffs
Other staple foods have also recorded price increases, further straining household budgets.
Garri (50kg bag, white variant) – Now sold at ₦20,000, up from ₦18,000.
Yam (per tuber) – Previously ₦900, now priced at ₦1,200.
Garri remains a major staple food, and its price rise is driven by higher production and transportation costs. Similarly, yam prices are affected by seasonal supply fluctuations and storage expenses.
The steady increase in food prices has raised concerns among consumers, businesses, and policymakers. While the government has introduced various interventions, such as boosting local production and reducing import dependency, the impact on affordability remains limited.
Market analysts predict that prices may remain high in the coming months unless there are significant improvements in food supply chains, transportation infrastructure, and inflation control measures.
Consumers are advised to monitor market trends and explore alternative food options where possible to manage expenses.
Food inflation continues to pose a challenge for Nigerians, with prices of essential commodities rising across the board. The combination of economic pressures, supply chain disruptions, and seasonal changes has made food affordability a major issue.