Why traders think cost of food will drop after the elections

Some of the traders told the News Agency of Nigeria (NAN) that prices of food items such as tomatoes, pepper, chilli pepper and onions would experience a sharp drop in prices after the elections.

Why prices will drop?

NAN reports that prior to the Presidential election, there was panic buying among Lagos residents due to the fear of possible outbreak of post-election violence.

The panic buying led to over-stocking of homes with food items and consequent increase in the prices of food items in Lagos markets.

The high cost of food items was also worsened by the absence of produce-laden trucks from the northern parts of the country to Lagos.

This post originally appeared in Daily Independent, Nigerian Newspaper.