For Nigerian consumers, the prices of staple foods have continued to decline

According to a recent market survey conducted in Lagos and other major cities. The survey reveals that the prices of rice, yam, garri, beans, and other essential food items have dropped significantly, bringing much-needed respite to low-income earners who have been struggling to make ends meet.

As of last week, a 50kg bag of long-grain foreign rice was selling for between N82,000 and N85,000, down from N95,000-N100,000 in the last quarter of last year. Similarly, 50kg of imported short-grain rice has dropped from N80,000-N90,000 to N65,000-N67,000, depending on the brand. Local parboiled rice, which was selling for N90,000-N100,000, is now selling for about N89,000.

The price of yam, which skyrocketed to N7,000 per tuber during the second quarter of last year, has dropped to N3,000. The survey also reveals that a paint bucket of yellow garri is now selling for N3,000, while the white version sells for N2,500 in Lagos. In Enugu State, a paint bucket of white garri sells for N2,300, while the yellow garri sells for N2,800.

The price of beans, which rose by over 300 percent within a year, has also dropped significantly. A D’Rica cup of beans, which was selling for between N500-N800, rose to N2,000-N2,500 but is now selling for between N1,000-N1,400, depending on the brand. This has come as a major relief for families who had to remove beans from their menu due to the high cost.

Other food items that have recorded a drop in price include millet, guinea corn, Soya beans, wheat, dry yellow corn, and fresh groundnut. A 4-liter paint cup of millet, guinea corn, which sold for N4,500, now sells for N4,000, while the same quantity of Soya beans, which sold for N6,500, now sells for N6,000.

The drop in food prices has been welcomed by consumers, who have been struggling to cope with the high cost of living. “The recent drop in beans price and garri is a big relief for my family,” said Titilayo Adewunmi, a mother of four, who was at the Ketu Market to make purchases. “The price decline has ensured we eat better now than before.”

However, some consumers are calling on the government to do more to bring down the prices of food items. “The prices still need to come down to levels they were before subsidy removal, and it should not just be on some food items alone but on all the food products,”

The government has been under pressure to address the issue of high food prices, which has been a major challenge for many Nigerian families. The prices of food items have been on the rise since the removal of the fuel subsidy, which led to an increase in the cost of transportation and production.

The drop in food prices is a welcome relief for Nigerians, who have been struggling to make ends meet. However, the government needs to do more to ensure that the prices of food items remain stable and affordable for all Nigerians.