Study shows higher food prices in Lagos

Study shows higher food prices in Lagos

Households in the Lagos metropolis may have paid more to prepare a meal in January 2016, than other key Nigerian cities, as prices for food commodities climbed higher says SBM Intelligence, a Lagos based research firm.

According to the report, “tomatoes, one of the most common perishable commodities in Nigeria, sold in Lagos at an average price of N679.50 for a paint container (6 litres; 2 kilograms) over the past six months compared to N540 in the first half of 2015 and N500 in the fourth quarter of 2014 representing an average increase of 26%”.

SBM said it worked closely with traders and housewives across nine markets in six cities in Nigeria: Lagos, Abuja, Awka, Ibadan, Kano and Onitsha, to gather the data contained for the study.

Comparative prices for tomatoes in other Nigerian cities were as followed:

Abuja – Wuse market – N425; Nyanya market – N300
Onitsha – Onitsha market N325
Lagos – Trade Fair market – N692; Balogun mark et – N667
Ibadan Dugbe market – N300; Bodija market – N300
Kano – Sabon Gari market – N140

Perishable food items like tomatoes, pepper, yams had stable average prices over the period of this survey, except for slight fluctuations in Bodija and Dugbe, both in Ibadan, where the cost of vegetables and poultry rose by an average of 6%.

Household consumables and personal hygiene products such as detergent, toiletries, and vanity items saw an average price increase of 27.15% in Lagos during the second half of 2015 and January 2016, while in Ibadan the increase came in at 18.01%. The increase in the Anambra area for the household items on averaged at 18.16%. However, in both Abuja and Kano, the increase in price of household items was smaller, 6.09% for Abuja, and 7.69% for Kano.

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