Capital is either imported in the form of shares, or directly imported by different sectors of the economy.
The table below contains Capital importation into Nigeria by sector from the first quarter of 2014 to the second quarter of 2018 and it will be updated every quarter.
|Shares||2773.36||4575.25||4523.86||1934.32||1280.67||1877.26||1736.48||831.88||243.53||347.99||646.28||228.24||143.81|| 932.58 ||2,745.79||3,680.34|| 3,792.73 || 4,091.55
|Agriculture||15.08||0.22||0.83||8.19||2.68||0.05||95.1||0.5||0.2||1||10.9||10.37||30|| 23.71||42.89||62.46|| 130.90 || 104.97
|Banking||104.93||191.1||330.99||337.16||114.89||360.92||244.24||193.49||107.58||108.11||555.52||161.3||126|| 89.80||177.94||543.37|| 1,180.81 || 294.96
|Brewering||-||-||-||-||0||0||9.06||0||11.64||11.32||5.63||25.67||16.06|| 4.83||4.00||2.3||1.0|| 0.70
|Construction||10.63||4.62||4.88||35.56||4.3||3.24||11.1||9.38||10.16||14.95||3.62||3.75||1.57||1.71||2.36||92.71|| 6.20 || 11.77
|Drilling||0.01||1.01||39.24||1||1.01||0.01||0.13||0.17||0||0.41||0.05||0||0||1.21||0.30||0.30|| 9.06 ||0|
|Electrical||5.95||1.79||5.84||2.44||0.83||73.39||0.58||137.52||70.15||12.84||18.65||23.72||1.1||6.38||26.34||5.1|| 18.66 || 12.25
|Financing||345.28||723.14||1073.83||566.06||763.49||46.54||35.15||13.71||42.57||1.08||36.56||15.13||88.65||57.31||49.91||122.68|| 485.41 || 150.32
|I T Services||2.5||2.57||1.65||3.25||1.4||5.75||2.02||3.61||1.02||0.63||0.03||0.04||0.49||6.28||1.25||8.45|| 1.10 || 48.04
|Marketing||0.06||-||0.03||-||0||0||0.15||0.8||0.2||0||0||0.6||1.31||0.09||0.78||0.48|| 4.27 ||0|
|Oil And Gas||201.14||3.83||3.16||0.05||9.47||4.86||2.21||13.22||20.83||200.39||171.63||327.3||101.08|| 190.39||16.07||23.83|| 85.62 || 24.85
|Production||104.07||107.88||365.1||366.92||118.36||51.2||162.42||91.72||77.77||89.42||68.25||67.21||79.32||141.42||16.07||317.82|| 144.09 || 208.92
|Servicing||32.36||53.58||110.49||354.88||6.29||12.83||65.64||115.71||55.05||119.75||36.55||87.56||146.05||145.56||586.97||216.45|| 328.15 || 479.85
|Telecomms||135.68||61.66||27.07||769.92||336.87||138.4||369.49||93.37||13.44||118.71||244.8||554.25||145.78||174.18||33.63||191.01|| 87.25 || 11.12
|Trading||169.35||68.11||46.43||101.72||28.54||91.57||6.66||40.77||55.08||12.37||18.95||38.52||18.72||12.53||11.45||12.96|| 27.33 || 60.35
|Transport||0.3||1.64||-||0.53||2.1||0.24||6.11||1.55||0.86||0||1.55||2.76||2.43||0||0||0.55|| 0.03 || 12.20
Servicing overtook Banking to become the leading sector for foreign capital inflow in the second quarter of 2018 with a value of $479.85 million. See below
List of Dividends announced so far in 2020 (June)
List of Dividends announced so far in 2020 (June)
As audited accounts start to trickle in, companies will propose dividend payments to their shareholders as recommended by their respective boards of directors. It is also important to track these announcements to know who is eligible to collect the dividend, when it will be approved and when it will be paid. Dividend payment also affects share prices.
This page will be updated from time to time.
Date Announced – The date the company announced dividends evidenced by a corporate action published on the website of the NSE.
Qualification date – Shareholders who own shares as of this date will receive dividends. If you buy shares and want to receive dividends make sure it is at least three days before this date. Shares get transferred to you on the basis of the T+3 rule (the date you bought plus 3 working days).
Payment date – This is when the dividend will be paid to you, either via post (dividend warrants) or direct credit to your bank accounts (e-dividend).
Closure of Register – Only shareholders who own shares listed in their register before this date will be paid dividends.
You can also scroll sideways to view the rest of the columns if using a mobile phone.
READ MORE: How to read stock market tables
2020 Dividends from companies quoted on the Nigerian Stock Exchange
|Company||DPS||Date Announced||Bonus||Closure of Register||AGM Date||Payment Date||Qualification date|
|Prestige Assurance Plc||Nil||4th June 2020||2 New shares for every 11 existing shares||22nd - 26th June 2020||30th June 2020||N/A||19th June 2020|
|Presco Plc||N2.00k||3rd June 2020||Nil||20th - 22nd July 2020||5th August 2020||7th August 2020||17th July 2020|
|Trans-Nationwide Express Plc||N0.03k||1st June 2020||Nil||6th - 10th July 2020||16th July 2020||20th July 2020||3rd July 2020|
|Nigeria Aviation Handling Company PLC||N0.30k||28th May 2020||Nil||1st - 3rd July 2020||16th July 2020||16th July 2020||30th June 2020|
|Skyway Aviation Handling Co. Plc||N0.16k||1st June 2020||Nil||17th - 23rd June 2020||30th June 2020||30th June 2020||16th June 2020|
|11 Plc||N8.25||28th May 2020||Nil||30th Sept - 5th Oct 2020||to be announced||to be announced||29th Sept 2020|
|Glaxo SmithKilne Consumer Nig. Plc||N0.55k||22nd May 2020||Nil||23rd June - 2nd July 2020||23rd July 2020||24th July 2020||22nd June 2020|
|Airtel Africa||0.03||13th May 2020||Nil||6th July 2020||Not applicable||24th July 2020||NA|
|Caverton Offshore Support Group Plc||N0.20k||22nd May 2020||Nil||16th June 2020||25th June 2020||25th June 2020||15th June 2020|
|Nigerian Breweries Plc (Revised)||N1.51k||20th May 2020||Nil||5th-11th March 2020||23rd June 2020||24th June 2020||4th March 2020|
|BUA Cement||N1.75k||19th May 2020||Nil||28th Sept - 2nd Oct 2020||22nd October 2020||23rd October 2020||25th September 2020|
|NASCON Allied Industries Plc||N0.40k||13th May 2020||Nil||15th - 16th July 2020||27th July 2020||29th July 2020||14th July 2020|
|Total Nigeria Plc||N6.71||13th May 2020||Nil||5th - 11th June 2020||to be announced||24hrs after meeting||4th June 2020|
|Cadbury Nigeria Plc||N0.49k||13th May 2020||Nil||25th - 29th May 2020||24th June 2020||25th June 2020||22nd May 2020|
|May and Baker Plc||N0.25k||13th May 2020||Nil||27th - 29th May 2020||4th June 2020||8th June 2020||26th May 2020|
|NPF Microfinance Bank Plc||N0.20k||11th May 2020||Nil||17th - 22nd June 2020||30th June 2020||30th June 2020||16th June 2020|
|Okomu Oil Palm Plc||N2.00||23rd April2020||Nil||19th - 22nd May 2020||28th May 2020||29th May 2020||18th May 2020|
|Lafarge Africa Plc||N1||27th April 2020||Nil||4th - 8th May 2020||3rd June 2020||3rd June 2020||30th April 2020|
|Wema Bank Plc||N0.04k||23rd April 2020||Nil||7th - 12th May 2020||18th May 2020||18th May 2020||6th May 2020|
|UAC of Nigeria Plc||N0.10k||20th April 2020||Nil||19th - 22nd May 2020||to be announced||to be announced||18th May 2020|
|Union bank of Nigeria||N0.25k||13th April 2020||Nil||27th - 30th April 2020||6th May 2020||6th May 2020||24th April 2020|
|FBN Holdings||N0.38k||6th April 2020||Nil||21st - 22nd April 2020||27th April 2020||28th April 2020||20th April 2020|
|Lafarge Africa Plc||N1.00k||6th April 2020||Nil||4th - 8th May 2020||26th May 2020||26th May 2020||30th April 2020|
|Ikeja Hotel Plc||N0.02||3rd April 2020||Nil||2nd - 8th July 2020||30th July 2020||7th August 2020||1st July 2020|
|McNichols Consolidated Plc||N0.03k||1st April 2020||Nil||2nd - 8th July 2020||30th July 2020||7th August 2020||1st July 2020|
|NEM Insurance||N0.15k||1st April 2020||Nil||4th - 8th May 2020||to be announced||to be announced||30th April 2020|
|FCMB Group Plc||N0.14k||31st March 2020||Nil||15th - 17th April 2020||28th April 2020||28th April 2020||14th April 2020|
|Beta Glass Nigeria Plc||N1.67k||30th March 2020||Nil||15th - 19th June 2020||2nd July 2020||3rd July 2020||11th June 2020|
|Capital Hotel Plc||N0.05k||26th March 2020||Nil||20th - 24th April 2020||27th May 2020||3rd June 2020||17th April 2020|
|Sterling bank Plc||N0.03k||26th March 2020||Nil||5th - 8th May 2020||20th May 2020||20th May 2020||4th May 2020|
|Boc Gases||N0.30k||26th March 2020||Nil||8th - 10th June 2020||25th June 2020||26th June 2020||5th June 2020|
|Fidelity Bank Plc||N0.20k||23rd March 2020||Nil||20th - 24th April 2020||30th April 2020||30th April 2020||17th April 2020|
|Seplat Petroleum Dev. Company Plc||0.05||23rd March 2020||Nil||13th May 2020||28th May 2020||4th June 2020||12th May 2020|
|Julius Berger Nig. Plc||N2.75k||13th March 2020||0.002||1st to 3rd June 2020||18th June 2020||19th June 2020||29th May 2020|
|Nigeria Energy Sector Fund (NESF)||N75.00||10th March 2020||Nil||20th March 2020||6th April 2020||19th March 2020|
|Access Bank Plc||N0.40k||6th March 2020||Nil||15th April 2020||30th April 2020||30th April 2020||14th April 2020|
|Nestle Nig Plc||N45.00k||28th February 2020||Nil||18th - 22nd May 2020||2nd June 2020||2nd July 2020||15th May 2020|
|Stanbic IBTC Holdings Plc||N2.00||5th March 2020||Nil||19th - 26th March 2020||30th June 2020||18th June 2020||18th March 2020|
|Guaranty Trust Bank Plc||N2.50k||2nd March 2020||Nil||19th March 2020||30th March 2020||30th March 2020||18th March 2020|
|United Bank of Africa||N0.80k||2nd March 2020||Nil||16th - 20th March 2020||27th March 2020||27th March 2020||13th March 2020|
|Transcorp Plc||N0.01k||28th February 2020||Nil||18th - 23rd March 2020||25th March 2020||27th March 2020||17th March 2020|
|MTN Nigeria Plc||N4.97k||28th February 2020||Nil||February 17, 1900||8th May 2020||19th May 2020||17th april 2020|
|Transcorp Hotels Plc||N0.07k||28th February 2020||Nil||13th-17th March 2020||24th March 2020||26th March 2020||12th March 2020|
|United Capital PLC||N0.50k||18th February 2020||Nil||9th-13th March 2020||24th March 2020||26th March 2020||6th March 2020|
|Infinity Trust Mortgage Bank PLC||N0.035K||30th January 2020||Nil||9th-13th March 2020||7th May 2020||14th May 2020||6th March 2020|
|Zenith bank Plc||N2.50k||21st February 2020||Nil||10th March 2020||16th March 2020||16th March 2020||9th March 2020|
|Africa Prudential Plc||N0.70k||25th february 2020||Nil||9th-13th March 2020||23rd March 2020||23rd March 2020||6th March 2020|
|Dangote Cement Plc||N16.00||25th february 2020||Nil||26th May 2020||15th June 2020||16th June 2020||25th May 2020|
|Tripple Gee & Company Plc||N0.05k||8th July 2019||Nil||2nd-6th September 2019||16th September 2019||28th September 2019||30th August 2019|
|Presco Plc||N2.00||6th June 2019||Nil||8th-10th July 2019||24th July 2019||29th July 2019||5th July 2019|
|C & I Leasing Plc||N0.075||25th June 2019||Nil||15th-19th July 2019||30th July 2019||31st July 2019||12th July 2019|
|NPF Microfinance Bank Plc||N0.05||25th June 2019||Nil||8th-12th July 2019||25th July 2019||25th July 2019||5th July 2019|
|Learn Africa Plc||N0.15k||2nd July 2019||Nil||23rd-27th September 2019||17th October 2019||18th October 2019||20th September 2019|
|Academy Press Plc||N0.05k||1st Juky 2019||Nil||5th-9th August 2019||19th September 2019||26th September 2019||2nd August 2019|
|University Press Plc||N0.15k||1st July 2019||Nil||2nd-6th September 2019||26th September 2019||26th September 2019||30th August 2019|
|Redstar Express Plc||N0.43k||2nd July 2019||Nil||17th-19th July 2019||8th August 2019||16th July 2019|
|Veitva Griffin 30 Plc||N0.27||Nil||N/A||N/A||31st May 2019|
|Vetiva S&P Nig. Sovereign Bond ETF||N13.00||Nil||31st May 2019||N/A||7th June 2019|
|Law Union & Rock Insurance Plc||N0.02||9th May 2019||Nil||3rd - 7th June 2019||25th June 2019||26th June 2019||31st May 2019|
|NEM Insurance||N0.13||30th April 2019||Nil||3rd - 7th June 2019||25th June 2019||25th June 2019||31st May 2019|
|Forte Oil||N1.15||3rd June 2019||Nil||4th - 7th June 2019||N/A||10th june 2019||3rd June 2019|
|Smart Products||N0.15||30th April 2019||Nil||1st - 5th July 2019||29th August 2019||5th Septemner 2019||28th June 2019|
|AIICO Insurance Plc||N0.06||16th April 2019||Nil||10th - 17th May 2019||20th May 2019||20th May 2019||May 9 2019|
|Consolidated Hallmark Insurance Plc||N0.02||23rd April 2019||Nil||7th - 13th March 2019||to be announced||to be announced||6th May 2019|
|FBN Holdings||N0.26||12th April 2019||Nil||24th - 29th April 2019||3rd May 2019||6th May 2019||22nd|
|Lotus Halal Fixed Income Fund||N28.00||Nil||N/A||N/A||12th April 2019|
|Nigerian Aviation Handling Coy Plc||N0.25||17th April 2019||Nil||9th - 11th July 2019||26th July 2019||26th July 2019||8th July 2019|
|Prestige Assurance Plc||N0.03||17th April 2019||Nil||6th - 10th May 2019||to be announced||to be announced||3rd May 2019|
|Regency Alliance Insurance Plc||N0.03||15th April 2019||Nil||13th - 17th May 2019||18th June 2019||19th June 2019||10th May 2019|
|Cement Coy. Of Northern Nig. Plc||N0.40||29th March 2019||Nil||2nd - 8th July 2019||25th July 2019||26th July 2019||1st July 2019|
|Dangote Sugar Refinery Plc||N1.10||4th April 2019||Nil||3rd - 5th June 2019||18th June 2019||19th June 2019||31st May 2019|
|The Initiates Plc||N0.05||2nd April 2019||Nil||3rd - 7th June 2019||to be announced||to be announced||31st May 2019|
|Aluminium Extrusion Ind. Plc||N0.085||26th March 2019||Nil||17th - 21st June 2019||to be announced||to be announced||14th June 2019|
|Beta Glass Nigeria Plc||N1.30||29th March 2019||Nil||17th - 21st June 2019||4th July 2019||5th July 2019||14th June 2019|
|UAC of Nigeria Plc||N0.64||29th March 2019||Nil||21st - 24th May 2019||26th June 2019||27th June 2019||20th May 2019|
|Okomu Oil Palm Plc||N3.00||27th March 2019||Nil||14th - 17th May 2019||13th June 2019||20th June 2019||13th May 2019|
|Wema Bank Plc||N0.03||29th March 2019||Nil||29th April - 6th May 2019||8th May 2019||13th May 2019||26th April 2019|
|Berger Paints Plc||N0.65||19th March 2019||Nil||29th April - 3rd May 2019||23rd May 2019||24th May 2019||26th April 2019|
|Caverton Offshore Support Group Plc||N0.25||29th March 2019||Nil||8th May 2019||21st May 2019||24th May 2019||7th May 2019|
|Eterna Plc||N0.25||29th March 2019||Nil||14th - 17th May 2019||13th June 2019||14th June 2019||13th May 2019|
|Infinity Trust Mortgage Bank Plc||N0.03||29th March 2019||Nil||25th April - 9th May 2019||16th May 2019||23rd May 2019||24th April 2019|
|CAP Plc||N2.50||29th March 2019||Nil||27th - 31st May 2019||20th June 2019||21st June 2019||24th May 2019|
|Portland Paints and Products Nig. Plc||N0.05||28th March 2019||Nil||6th - 10th May 2019||30th May 2019||31st May 2019||3rd May 2019|
|Glaxo SmithKilne Consumer Nig. Plc||N0.05||8th March 2019||Nil||24th April - 6th May 2019||23rd May 2019||24th May 2019||22nd April 2019|
|Chams Plc||N0.03||4th April 2019||Nil||18th - 24th April 2019||to be announced||to be announced||17th April 2019|
|Fidson Healthcare Plc||N0.15||3rd April 2019||Nil||18th - 24th April 2019||to be announced||to be announced||17th April 2019|
|Capital Hotel Plc||N0.05||2nd April 2019||Nil||24th - 29th April 2019||April 22, 2000||9th May 2019||23rd April 2019|
|May and Baker Plc||N0.20||29th March 2019||Nil||23rd - 26th April 2019||30th May 2019||3rd June 2019||18th April 2019|
|Unilever of Nigeria Plc||N1.50||29th March 2019||Nil||15th - 23rd April 2019||9th May 2019||10th May 2019||12th April 2019|
|Total Nigeria Plc||N14.00||28th March 2019||Nil||23rd - 29th April 2019||27th June 2019||28th June 2019||18th April 2019|
|FCMB Group Plc||N0.14||29th March 2019||Nil||12th - 18th April 2019||26th April 2019||29th April 2019||11th April 2019|
|Fidelity Bank Plc||N0.11||29th March 2019||Nil||15th - 19th April 2019||26th April 2019||26th April 2019||12th April 2019|
|Custodian Investment Plc||N0.35||21st March 2019||Nil||12th - 17th April 2019||24th April 2019||24th April 2019||11th April 2019|
|11 Plc||N8.25||22nd March||Nil||3rd - 10th May 2019||16th May 2019||17th May 2019||2nd May 2019|
|NASCON Allied Industries Plc||N1.00||22nd March 2019||Nil||31st May - 3rd June 2019||13th June 2019||17th June 2019||30th May 2019|
|Cadbury Nig. Plc||N0.25||21st March 2019||Nil||20th - 24th May 2019||18th June 2019||19th June 2019||17th May 2019|
|Julius Berger Nig. Plc||N2.00||21st March 2019||Nil||3rd - 7th June 2019||20th June 2019||21st June 2019||31st May 2019|
|UBA Plc||N0.65||15th March 2019||Nil||3rd - 9th April 2019||23rd April 2019||23rd April 2019||2nd April 2019|
|Access Bank Plc||N0.25k||14th March 2019||Nil||12th April 2019||25th April 2019||25th April 2019||11th April 2019|
|Stanbic IBTC Holdings Plc||N1.50k||7th March 2019||Nil||21st March 2019||19th June 2019||20th June 2019||20th March 2019|
|Guaranty Trust Bank Plc||N2.45||6th March 2019||Nil||9th April 2019||18th April 2019||18th April 2019||8th April 2019|
|Seplat Petroleum Dev. Company Plc||US$0.05||6th March 2019||Nil||21st March 2019||16th May 2019||23rd May 2019||20th March 2019|
|Nestle Nig Plc||N38.50k||4th March 2019||Nil||13th - 17th May 2019||28th May 2019||29th May 2019||10th May 2019|
|McNichols Consolidated Plc||N0.05k||1st March 2019||Nil||9th - 15th April 2019||16th April 2019||26th April 2019||8th April 2019|
|Dangote Cement||N16.00||28th February 2019||Nil||4th - 10th June 2019||17th June 2019||18th June 2019||3rd June 2019|
|Africa Prudential Plc||N0.50k||26th February 2019||Nil||14th - 20th March 2019||26th March 2019||26th March 2019||13th March 2019|
|United Capital Plc||30kobo||21st February 2019||Nil||14th - 20th March 2019||28th March 2019||2nd April 2019||13th March 2019|
|Zenith Bank Plc||N2.50||19th February 2019||Nil||11th - 15th March 2019||18th March 2019||18th March 2019||8th March 2019|
|Transnational Corp. of Nig. Plc||3k||18th February 2019||Nil||1st - 5th March 2019||15th March 2019||19th March 2019||28th February 2019|
|Nigerian Breweries Plc||N1.83K||18th February 2019||Nil||7th - 13th March 2019||17th May 2019||20th May 2019||6th March 2019|
|Transcorp Hotel||15k||15th February 2019||Nil||28th February - 1 March 2019||15th March 2019||19th March 2019||27th February 2019|
|Newrest ASL NIG Plc||20k||Nil||29th April - 3rd May 2019||15th May 2019||16th May 2019|
|SIAML Pension ETF 40||N1.17||Nil||25th January 2019||N/A||28TH January 2019|
Naira weakens against the dollar by 1.14% amid market uncertainty
The reopening of the economy is expected to put additional pressure on the naira as more businesses try to meet up with accumulated obligations.
The naira was weakened at the parallel market on Monday, thereby depreciating against the dollar. This is the first depreciation of the naira in about two weeks, after four consecutive rounds of appreciation against the dollar.
According to information obtained from Abokifx, the naira depreciated to N445 to a dollar on Monday, June 2, 2020. This shows a loss of N5 (or 1.14% decline) when compared to the N440 to a dollar that was recorded last week Friday.
The local currency was weakened at the parallel market following the announcement of the resumption of domestic flight operations on June 21, 2020, by the Federal Government. The uncertainty resulting from the delayed resumption of sales of dollars to the Bureau De Change (BDC) operators also contributed.
In a related development, the local currency was stable at the Investors and Exporters (I&E) window, having recorded no movement. The naira exchanged at N385.50 to a dollar on Monday, June 2, 2020, which was the same rate it ended with on Friday last week. This came against the backdrop of a marginal increase in the daily turnover to $34.35 million at the I&E window, marking an increase of $2.95 million when compared to the $31.40 million that was recorded the previous trading day. In other words, this represents a 9.4% increase in dollar supply to the window.
(READ MORE: Naira drops to N460 against dollar)
Recall that on April 29, 2020, the Central Bank of Nigeria had announced the resumption of weekly sales of $100 million dollars for school fees and the Small and Medium Enterprises (SMEs), in order to help reduce the pressure on the naira in the foreign exchange market. To a large extent, this has helped to reduce pressure on the naira.
However, despite improvement in the price of crude oil around the world and its positive effect on the country’s foreign exchange earnings, the reopening of the economy is expected to put more pressure on the naira as more businesses try to meet up with accumulated obligations.
Prices of food items jump across Lagos markets, as traders lament transport fare hike
Covid-19 pandemic, high cost of transportation, and scarcity have triggered a significant price increase of major household items across Lagos Markets.
As Nigerians continue to adjust to the “new normal” that has characterised the gradual easing of the nationwide COVID-19 lockdown, they are concerned about the significant increase in the prices of food items, particularly across Lagos markets. Meanwhile, traders have blamed the price jump on the high cost of transportation and scarcity of some essential food items.
These were all revealed in the latest household market survey carried out by Nairametrics Research. According to the latest report, the price of items such as beans, pepper, palm oil, onions, tomatoes, garri, and potatoes significantly increased. For instance, a big bag of pepper is currently sold for an average of N15,000, which indicates an increase of 114.3% when compared to the pre-lockdown price of N7,000.
Similarly, the price of a big bag of dry onions spiked by 30.77%, as it currently sells for an average of N17,000. In the same vein, a basket of sweet potatoes sells for an average of N15,000, marking a 150% increase when compared to N6,000 pre-lockdown price.
The rest of this report further highlights other items that witnessed a significant increase in price, items that recorded a decrease in price, items that maintained initial prices, special markets, and key market insights. Keep reading…
Items that witnessed price increase
Some of the items that recorded significant increase in price include:
• A 50kg bag of Royal Stallion rice currently selling for an average of N27,333, compared to an initial average of N26,167 recorded in March.
• A gallon of locally made palm oil (5 Litres) is currently sold for an average of N2,025, indicating a 22.73% increase compared to its initial price of N1,650. A 25-litre gallon of palm oil increased by 6.67% to sell for an average of N10,000 compared to N9,375.
• A 50kg bag of Mama Gold rice, which was initially sold for an average of N19,250 increased by 5.84% to an average of N20,375 while Mama’s Pride rice increased marginally to an average of N19,375.
• A 50kg bag of white beans, which was initially sold for an average of N18,250 in March, now sells for an average of N21,125. This indicates a 15.75% increase in price.
• Also, a big sized bag of brown beans recorded a 9.27% increase in price to sell for an average of N20,625 compared to an initial average of N18,875.
• An 80kg bag of garri (Ijebu) currently sells for an average of N13,000. This indicates a 94% increase compared to the initial average of N6,700 recorded in March.
• Also, a 50kg bag of white garri spiked by 50% to sell for an average of N11,250, while yellow garri (50kg) recorded 58.1% increase in price to sell for an average of N12,250 compared to a reference price of N7,750.
• A big basket of round shaped tomatoes, which was sold for an average of N5,500 in March, has risen significantly by 127.3% as it now sells for an average of N12,500.
• The price of fish also rose as a big sized Horse Mackerel (Kote) that was for an initial average of N525 is now sold for an average of N563, while Titus (Mackerel) fish is currently sold for an average of N575.
• A bag of yellow maize currently sells for an average of N14,000, compared to an average of N13,000 recorded in March, while a bag of white maize sells for an average of N13,750.
Items that recorded decrease in price
Despite the increase recorded in the prices of major household food items, the prices of some items however declined.
• A 12.5kg cylinder of cooking gas is now being refilled for an average of N3,375. Indicating a 15.63% reduction in price from an average of N4,000 in March.
• Also, a 5kg cylinder of cooking gas is currently filled for an average of N1,375 compared to an average of N1,725 recorded in March.
• A big bag of melon seeds (egusi) currently sells for an average of 38,000. A 7.32% decrease in price compared to N41,000 recorded in March 2020.
• A tuber of yam is currently sold for an average of N1,250. Compared to initial value of N1,375. The price of yam reduced by 9.1% while a medium-sized tuber of Abuja yam currently sells for an average of N713.
Items that maintained initial price
Household items that maintained their initial prices include milk, cocoa beverages, vegetable oil, and flour.
• A 400g of Peak Powdered milk (tin) continues to sell for an average of N1,213 while 900g still sells for an average of N2,375.
• 500g and 900g tins of Milo still sell for averages of N1,038 and N2,075 respectively across the four markets.
• 5-Litre and 25-Litre gallons of locally made vegetable oil maintained their initial prices at N2,200 and 12,575 respectively.
• The Nairametrics Research team identified new brands of beans at the market — Gombe beans, which is sold for an average of N21,500 per bag, and Niger beans which sells for an average for N17,000.
• A big bag of dried bush mango seeds (Ogbono) is currently sold for average of N75,000 compared to an initial value of N90,000, while a bag of new bush mango seeds sells for N50,000 as against its initial value of N70,000.
• A bag of crayfish also recorded a decrease in price from an average of N15,000 to N12,500.
The lockdown and hike in the cost of transportation triggered increases in the price of food items. This was disclosed by a frozen food trader at Mushin market. She said:
“Due to the hike in transportation, we now sell a full chicken for an average of N1,700 compared to an initial average of N1,400, while 1 kg of Turkey sells for N1,500 compared to N1,300 recorded in March 2020. Also, Chicken lap which was sold for N1,000 in March now sells for an average of N1,400, while a carton of Titus fish that was sold for N19,000 in March now sells for an average of N21,000.”
She further explained that due to the practice of social distancing, the cost of transportation has increased significantly, hence affecting the prices of many commodities in the market.
On his part, Mr. Ruwa, an onion seller at Mile 12 market, stated that the increase in the price of onions is due to the scarcity of the item which is produced mainly in Northern Nigeria. According to him, the price of onions rose significantly due to the scarcity of dry onions due to the season.
|Items||Brand||Unit||MUSHIN (28/05/2020)||DALEKO (28/05/2020)||OYINGBO (28/05/2020)||MILE 12 (28/05/2020)||Average||MUSHIN (19/03/2020)||DALEKO (19/03/2020)||OYINGBO (19/03/2020)||MILE 12 (19/03/2020)||Average|
|Bag of Rice||Basmati||5kg||NA||NA||NA||NA||NA||NA||NA||NA||NA||NA|
|Bag of Rice||Mama Gold||10kg||NA||4000||NA||NA||4000||NA||3500||NA||NA||3500|
|Bag of Rice||Royal Stallion||50Kg||28000||NA||27000||27000||27333.333333333||27000||NA||27000||24500||26166.666666667|
|Bag of Rice||Rice Master||10kg||NA||3500||NA||4000||3750||NA||3500||NA||3500||3500|
|Bag of Rice||Mama Gold||50kg||20000||20000||21000||20500||20375||19000||19000||19500||19500||19250|
|Bag of Rice||Caprice||50kg||28000||27000||27500||27000||27375||26500||NA||NA||25000||25750|
|Bag of Rice||Mama's Pride||50kg||19500||19000||19500||19500||19375||19000||19000||19500||19500||19250|
|Bag of Rice||Falcon||25kg||NA||NA||NA||NA||NA||NA||NA||NA||NA||NA|
|Bag of Beans||Oloyin||50kg||13000||12500||13000||12500||12750||13000||12000||13000||12000||12500|
|Bag of Beans||White||50kg||22000||20500||21000||21000||21125||18500||18000||18500||18000||18250|
|Bag of Beans||Brown||>50kg||20500||19500||21500||21000||20625||20500||18000||19000||18000||18875|
|Tuber of Yam||Abuja||1 Big Size Tuber||1300||1200||1300||1200||1250||1400||1400||1300||1400||1375|
|Tuber of Yam||Abuja||1 Medium Size Tuber||700||700||750||700||712.5||750||700||750||750||737.5|
|Carton of Noodles||Indomie||305g (Belle full)||2900||2900||2900||2900||2900||2900||2900||2900||2900||2900|
|Carton of Noodles||Indomie||200g (Hungry man)||3200||3200||3200||3200||3200||3200||3200||3200||3200||3200|
|Carton of Noodles||Chikki||100g||2000||2200||2100||2100||2100||2000||2200||2100||2100||2100|
|Carton of Noodles||Minimie||70g||1600||1650||1700||1650||1650||1500||1500||1500||1500||1500|
|Carton of Noodles||Golden Penny||70g||1400||1400||1400||1400||1400||1400||1400||1400||1400||1400|
|Bag of Garri||Ijebu||80kg||12500||13000||12500||14000||13000||6000||6800||7000||7000||6700|
|Bag of Garri||White||50kg||11000||11500||11500||11000||11250||7000||7500||7500||8000||7500|
|Bag of Garri||Yellow||50kg||12000||12500||12000||12500||12250||7500||7500||7500||8500||7750|
|Basket of Potato||Sweet||Big Basket||15000||15000||6000||6000|
|Basket of Potato||Sweet||Small Basket||1000||1000||1000||1000|
|Basket of Potato||sweet||Smallest Basket||500||500||200||200|
|Basket of Potato||Irish||Biggest Basket||20000||20000||17000||17000|
|Basket of Potato||Irish||Small Basket||2000||2000||1800||1800|
|Basket of Potato||Irish||Smallest Basket||1500||1500||1300||1300|
|Packet of Pasta||Golden Penny||500g||4300||4400||4300||4200||4300||4300||4400||4300||4200||4300|
|Packet of Pasta||Dangote||500g||4000||4100||4200||4100||4100||4000||4000||4000||4100||4025|
|Packet of Pasta||Power (1 pc)||500g||220||220||220||220||220||220||220||220||200||215|
|Packet of Pasta||Bonita (1 pc)||500g||220||200||200||210||207.5||220||200||200||210||207.5|
|Gallon of Palm Oil||Local||5 Litres||2100||2000||2000||2000||2025||1800||1500||1800||1500||1650|
|Gallon of Palm Oil||Local||25 Litres||10000||9500||10000||9500||10000||10000||9000||9500||9000||9375|
|Gallon of Vegetable Oil||Local||5 Litres||2200||2200||2200||2200||2200||2200||2200||2200||2200||2200|
|Gallon of Vegetable Oil||Local||25 Litres||12600||12400||12900||12400||12575||12600||12400||12900||12400||12575|
|Gallon of Vegetable Oil||Kings||5 Litres||3000||3000||3000||3000||3000||3000||3000||3000||3000||3000|
|Gallon of Vegetable Oil||Wesson||5 Litres||3900||3900||3900||3900||3900||3900||3900||3900||3900||3900|
|Gallon of Vegetable Oil||Mamador||3.8 Litres||2500||2450||2500||2400||2462.5||2500||2450||2500||2400||2462.5|
|Gallon of Vegetable Oil||Power||3 Litres||1800||1800||1800||1800||1800||1800||1800||1800||1800||1800|
|Bunch of Plaintain||Plaintain||1 Big Bunch||500||400||450||500||462.5||400||400||350||400||387.5|
|Bag of Flour||Dangote||50kg||11200||11200||11000||11000||11100||11200||11200||11000||11000||11100|
|Bag of Flour||Honey well||50Kg||11200||11200||11200||11200||11200||11200||11200||11200||11200||11200|
|Bag of Flour||Mama Gold||50kg||11000||11300||11000||11000||11075||11000||11300||11000||11000||11075|
|Milk||Peak Powdered (Tin)||400g||1250||1200||1200||1200||1212.5||1250||1200||1200||1200||1212.5|
|Milk||Peak milk (Refill)||500g||1050||1000||1000||1000||1012.5||1050||1000||1000||1000||1012.5|
|Milk||Dano Powdered (Tin)||500g||1000||1000||1000||1000||1000||1000||1000||1000||1000||1000|
|Milk||Three Crown (Refill)||380g||720||700||750||700||717.5||720||700||750||700||717.5|
|Milk||Loya Powdered (Tin)||400g||1000||1000||1000||1050||1012.5||1000||1000||1000||1050||1012.5|
|Cocoa Beverages||Milo (Tin)||500g||1000||1100||1050||1000||1037.5||1000||1100||1050||1000||1037.5|
|Cocoa Beverages||Milo (Tin)||900g||2000||2100||2100||2100||2075||2000||2100||2100||2100||2075|
|Cocoa Beverages||Milo Refill||500g||900||900||900||900||900||900||900||900||900||900|
|Cocoa Beverages||Bournvita Refill||500g||950||1000||950||900||950||950||1000||950||900||950|
|Cocoa Beverages||Bournvita (Plastic)||900g||2000||2000||2000||2000||2000||2000||2000||2000||2000||2000|
|Cocoa Beverages||Ovaltine Refill||500g||800||800||850||850||825||800||800||850||850||825|
|Tea||Lipton Yellow label||52g||310||290||300||300||300||310||290||300||300||300|
|Sugar||St' Loius Sugar(Cube)||500g||500||550||550||550||537.5||400||380||400||450||407.5|
|Sugar||Golden Penny Sugar (cube)||500g||350||350||350||400||362.5||350||300||350||300||325|
|Bottled Water (Refill)||Cway||Refill||600||600||650||600||612.5||600||600||650||600||612.5|
|Juice||5 Alive||1 litre||600||550||550||600||575||600||550||550||600||575|
|Tomatoes||Big Basket||round shaped||12500||12500||5500||5500|
|Medium Basket||round shaped||6500||6500||3200||3200|
|Small Basket||round shaped||4000||4000||2000||2500|
|Big Basket||Oval Shaped||NA||NA|
|Small Basket||Oval Shaped||NA||NA|
|Fish||Kote (Horse Mackerel)||1 big Fish||550||600||550||550||562.5||550||500||500||550||525|
|Fish||Titus (Mackerel)||1 big Fish||550||600||550||600||575||500||500||550||500||512.5|
|Onions||Big bag||Dry Onions||17000||17000||13000||13000|
|Onions||Big bag||New Onions||NA||NA||11000||11000|
About Nairametrics Food Price Survey
The Nairametrics Food Price Watch is a bi-weekly household market survey that covers the prices of major food items, with emphasis on five major markets in Lagos – Mushin Market, Daleko Market, Oyingbo Market, Idi-Oro Market and Mile 12.