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Household Survey: Food items are expensive at Mushin Market

Relative differences in the prices of major goods across the four (4) markets. The markets surveyed include: Mushin Market, Daleko Market, Oyingbo Market, etc.

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prices of major goods
  • Relative differences in the prices of major goods across the four (4) markets. 
  • The markets surveyed include: Mushin Market, Daleko Market, Oyingbo Market, and Mile 12. 
  • A few food items recorded the same prices in all markets. 
  • Mushin recorded the highest prices of foodstuff. 
  • 50kg Bag of rice had an average price of N11,081.25 

The Nairametrics’ Food Price Watch is a bi-weekly household market survey with emphasis laid on four (4) major markets in Lagos State: Mushin Market, Daleko Market, Oyingbo Market, and Mile 12.  

Prices of food items are gathered by our research team from the listed markets which are collated according to their brands and units. This survey is aimed at notifying consumers on the prices of various household items in different markets within their reach. 

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SURVEY 

Relative differences in priceMost food items recorded slight differences in their prices. For example; 50kg bag of rice (Royal stallion) which has an average price of N13,825, recorded N14,000 in Mushin Market, N13,500 in Daleko Market, N14,000 in Oyingbo Market, and N13,800 in Mile 12 Market. 

Also, 120g carton of noodles (Indomie) with an average price of N3,037.5, went for N3,100 at Mushin Market, Daleko Market for N3,000, Oyingbo Market for N3,000 and Mile 12 for N3,050. 

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Same prices: Just a few food items like Carton of noodles (minimie), 500g packet of pasta (Dangote), 5 litres local gallon of palm oil, 5 litres gallon of vegetable oil, 500g/900g Dano powdered milk, 52g Top tea and Gas refilling both 12.5kg and 5kg recorded the same prices in all four markets surveyed. 

Markets with the highest prices of foodstuffData collated showed that Mushin Market recorded the highest prices for foodstuff. Could it then be said that food items are best purchased at the other markets?  

Arguably not! A consumer living at Mushin cannot commute to Oyingbo or Mile 12 just because the prices at which goods are sold there is expensive. This is because transportation costs would come into the mix, at the end of which it would make no economic sense to do so.

However, from the viewpoint of a wholesaler (Bulk trader), it might make a whole lot of sense. The transportation cost would eventually be recovered. 

Special Market: Some food items were not found in all the markets surveyed. As a matter of fact, only Mile 12 had all the goods surveyed. Items such as different baskets of potatoes and different baskets of tomatoes were only found in Mile 12.

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12 market is known mainly for this. On a normal day, Lagos residents (no matter their location) would usually go to Mile 12 as early as possible to get goods in bulk and at cheap rates.  

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See table below:

ItemBrandUnitSelected Markets Prices (5/4/2019)    
MUSHINDALEKOOYINGBOMILE 12Average
Bag of RiceBasmati5kg5000550050005166.6666666667
Bag of RiceMama Gold10kg35003000370030003300
Bag of RiceRoyal Stallion50Kg1400013500140001380013825
Bag of RiceRice Master10kg35003000300030003125
Bag of RiceMama Gold50kg1450013500140001350013875
Bag of RiceCaprice50kg1400013000135001350013500
Bag of RiceFalcon25kg68006500680068006725
Bag of RiceOfada5kg48004500420042004425
Bag of BeansOloyin50kg16700170001650016733.333333333
Bag of BeansWhite50kg29500298002900029433.333333333
Bag of BeansBrown50kg32500324003200032300
Tuber of YamAbuja1 Big Size Tuber1000800950900912.5
Tuber of YamAbuja1 Medium Size Tuber480350400450420
Carton of NoodlesIndomie120g31003000300030503037.5
Carton of NoodlesIndomie70g18001800175018001787.5
Carton of NoodlesChikki100g22002200220022002200
Carton of NoodlesMinimie70g15001500150015001500
Carton of NoodlesGolden Penny70g14001400140014501412.5
Bag of GarriIjebu80kg78007500650075007325
Bag of GarriWhite50kg75007500500075006875
Bag of GarriYellow50kg75007500550075007000
Basket of PotatoSweetBig Basket95009500
Basket of PotatosweetSmall Basket50005000
Basket of PotatoIrishBig Basket1200012000
Basket of PotatoIrishMedium Basket60006000
Basket of PotatoIrishSmall Basket20002000
Packet of PastaGolden Penny500g200180200200195
Packet of PastaDangote500g200200200200200
Packet of PastaPower500g200170180183.33333333333
Packet of PastaBonita500g170200200200192.5
Gallon of Palm OilLocal5 Litres25002500250025002500
Gallon of Palm OilLocal20 Litres65006000650060006250
Gallon of Palm OilLocal30 Litres1070010000100001050010300
Gallon of Vegetable OilLocal5 Litres25002500250025002500
Gallon of Vegetable OilLocal20 Litres64006500650068006550
Gallon of Vegetable OilLocal30 Litres1150011000110001150011250
Gallon of Vegetable OilKings5 Litres35003300340035003425
Gallon of Vegetable OilWesson5 Litres40004000420040004050
Gallon of Vegetable OilMamador3.8 Litres28002750290028002812.5
Gallon of Vegetable OilPower3 Litres20002000220020002050
Basket of TomatoOval Shaped1 Small Basket25002500
Basket of TomatoRound Shaped1 Small Basket25002500
Bunch of PlaintainPlaintain1 Big Bunch22001700170020001900
Bag of FlourDangote50kg105001100010750
Bag of FlourHoney well50Kg110001100011000
Bag of FlourMama Gold50kg115001100011250
Bag of SugarDangote50kg320032003200
MilkPeak Powdered (Tin)400g11501200125012001200
Milkpeak Powdered(Tin)900g23502400250024002412.5
MilkPeak milk (Refill)500g950100010001000987.5
MilkDano Powdered (Tin)500g10001000100010001000
MilkDano Powdered(Tin)900g20002000200020002000
MilkDano (Refill)500g800700800750762.5
MilkThreeCrown (Refill)380g700650700650675
MilkLoya Powdered (Tin)400g10501000100010001012.5
MilkLoya (Refill) 400g800800800850812.5
MilkCoast (Refill)500g750700725
Cocoa BeveragesMilo (Tin)500g10501000110011001062.5
Cocoa BeveragesMilo (Tin)900g21002100200020002050
Cocoa BeveragesMilo Refill500g900800850850850
Cocoa BeveragesBournvita Refill500g800950950950912.5
Cocoa BeveragesBournvita (Plastic)500g10001000110011001050
Cocoa BeveragesBournvita (Plastic)900g20002000200020002000
Cocoa BeveragesOvaltine Refill500g800800800850812.5
Cocoa BeveragesOvaltine(Plastic)500g11001100100011001075
CoffeeNescafe Gold Blend100g18001850180018001812.5
CoffeeNescafe Classic 50g650600600600612.5
TeaLipton Yellow label 52g300280300300295
TeaTop tea52g300300300300300
SugarSt' Loius Sugar(Cube) 500g300280380300315
SugarGolden Penny Sugar (cube)500g350300350300325
BreadVal-U1 loaf300300
BreadButterfield1 loaf300300
EggN/ACrate10009509001000962.5
MagarineBlue Band450g500500
MagarineSimas250g#DIV/0!
Baby MilkSMA Gold500g30003000
Baby MilkNAN500g21002100
Bottled Water (Refill)CwayRefill500500
Juice5 Alive1 litre300300
JuiceChivita1 litre300300
GasRefilling12.5kg35003500350035003500
GasRefilling5kg10001000100010001000
TomatoesBig Basket80008000
Medium Basket45004500
Small Basket
 

 

 

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Nairametrics Research team tracks, collates, maintains and manages a rich database of macro-economic and micro-economic data from Nigeria and Africa. Our analysts share some of the data collated on Nairametrics, using formats such as docs, tables and charts etc. The team also publishes research based analysis as articles on a regular basis.

1 Comment

1 Comment

  1. Anonymous

    April 11, 2019 at 12:36 pm

    Good job.Well done great team

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Business News

Job listings spike up by 183% in April –Jobberman

Jobberman released figures showing a 183% increase in job listings on its platform in April 2020, thanks to its #UnityInAdversity campaign.

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Job listings spike up by 183% in April – Jobberman

Notable job placement website, Jobberman, has released figures showing that there was a 183% increase in job listings on its platform in the month of April 2020.

This increase, according to Jobberman, is a result of the #UnityInAdversity campaign which allowed companies to post job listings and access Jobberman’s database of over 2.2 million professionals across Nigeria for free, rather than paying the usual fees. This was the company’s way of showing support to businesses and individuals, amid the economic challenges which resulted from the COVID-19 pandemic.

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According to the release from Jobberman, this campaign came at a cost to the company since it was trading off its revenue by offering for free, the same services which formed its major source of income.

“At the beginning of March, Jobberman Nigeria saw a 70 percent decrease in job listings due to the reduced economic activity caused by the enforced lockdown and many companies shutting down recruitment budgets to cut costs. Jobseeker sign-ups also decreased by 17 percent. Jobberman took the bold step to put employers’ and job seekers’ needs first” the statement read.

(READ MORE: Merger, Tax incentive boosts BUA Cement FY 2019 result)

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The campaign, which is billed to run till June 30, has paid off greatly as data for April’s job listings alone was more than that of the entire Q1 2020 period. See a breakdown of the job listings below:

  • Almost a fifth of the positions (18.79%) were listed in the tech sector
  • Banking, finance, and insurance accounted for 9.27%
  • Education and training had 6.78 percent
  • IT & Software positions accounted for 11.69%
  • Sales had 13.32%.

Note that with the increase in job listings, job seeker sign-ups also increased by 39% in April alone.

Job listings spike up by 183% in April – Jobberman

Speaking about the campaign, the CEO of Jobberman Nigeria, Hilda Kragha said, “The COVID-19 pandemic has made the process of connecting talent to opportunities more complicated and we are fully aware of the strain businesses and individuals in Nigeria are facing. We plan to be here for the next 10 years so making this small sacrifice to help our users navigate these difficult times is something that we think is definitely worth doing”.

Kragha also noted that the campaign has encouraged healthy competition as candidates strive to show themselves qualified for the position.

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“We have found that soft skills such as emotional intelligence, business etiquette, time management, which are often overlooked and underestimated in Nigeria, can make a big difference. We know the power of soft skills and we are committed to empowering individuals with the training and soft skills they need to succeed in the workplace” she explained further.

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(READ MORE: Partnerships Beyond The Partners… Another Lesson From Interswitch)

Sequel to this, the company also launched a free soft skills training programme to help job seekers (between age 18 and 30 years) acquire the needed soft skills and better their chances of gaining employment.

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Economy & Politics

Gold prices rise, as President Trump decides on China today

Gold prices jumped on Friday as China and America’s drift deepened over further moves by China to impose security laws on Hong Kong

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Gold, Gold prices tick up as President Trump decides on China today

Gold prices jumped on Friday as China and America’s drift deepened over further moves by China to impose security laws on Hong Kong, lifting the allure of safe havens amid market uncertainties.

U.S. President Donald Trump’s top economic adviser cautioned the Chinese lately that Hong Kong, which has enjoyed special privileges, may now be treated like China when it comes to financial matters and trade.

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Trump, who had earlier vowed a tough action on China, will hold a news conference today to announce what measures his administration will take.

Spot gold gained about 0.1% at $1,719.63 per ounce, and U.S. gold futures rose 0.4% to $1,734.60.

The friendship between the Americans and Chinese had weakened, since the outbreak of the Covid-19 pandemic.

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President Trump and President Jinping of China have accused each other as a result of issues surrounding the COVID-19 pandemic.

(READ MORE:  Gold records 3-week high, as investors rush to safe haven)

Why do Investors buy Gold? Global Investors most often buy the safe-haven asset in times of uncertainty and use it to hedge against cash (inflationary macros).

Oil prices, Gold prices tick up as President Trump decides on China today

“The possible U.S. response could range from a tearing up of the Phase 1 trade deal and fresh tariffs on China, to milder travel or financial sanctions on Chinese officials,” said Shane Oliver, chief economist at Australian wealth manager AMP to Reuters News.

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“It is seen as a major threat to the rally we’ve had and the recovery,” “If it’s at the relatively mild end, then I don’t think it would derail the recovery bull market, but if it’s at the more extreme end with tariffs and harsh treatment of Hong Kong, then I think it gets more problematic,” Oliver added.

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Business News

AfDB board denies asking Adesina to step down, as Obasanjo says the bank risks being hijacked

“The Bureau of the board of governors informs the public that it has not taken any decision. Everyone must allow the Bureau to do its work and allow due process to reign.”

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AfDB partners DFID to unveil $80m infrastructure financing for Africa, ADB launches $3 billion “Fight COVID-19” Social Bond, US calls for an independent probe of AfDB president, Akinwumi Adesina, AfDB board denies asking Adesina to step down as Obasanjo says the bank risks being hijacked

The Bureau of the Board of Governors of the African Development Bank (AfDB) has denied media reports making the rounds that AfDB’s president, Akinwumi Adesina, has been asked to step down pending the completion of the probe and determination of allegations against him.

The bank’s top governing board members said that they have not asked Adesina to step down from his position as president, even as the board continues to review the fallout of complaints by some whistleblower. The statement from the Chairman of the bank’s board of governors, Niale Kaba, said:

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“The Bureau of the board of governors informs the public that it has not taken any decision. Everyone must allow the Bureau to do its work and allow due process to reign. All governors will be carried along in resolving the issue.’’

READ ALSO: IMF advises banks to suspend dividend payment

Kaba also stressed that there was no governance crisis at AfDB as was being speculated in certain quarters. He confirmed that the Bureau of the Board of Governors of AfDB met on Tuesday, May 26, after the request by the U.S Secretary calling for an independent probe. The essence of the meeting was to take a closer look at the allegations by the whistleblowers against Akinwumi Adesina, said allegations which had already been investigated by the ethics committee of the bank.

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Kaba further disclosed that even though no decision has been taken yet, the bureau assures that it is treating the case with the utmost seriousness that it deserves.

(READ MORE:  AfDB bows to pressure from U.S, orders an independent probe of Akinwumi Adesina)

Adesina, who maintains his innocence of those allegations, had stated that a fair, transparent, and just process will vindicate him.

In a related development, former Nigerian President Olusegun Obasanjo had thrown his weight behind Adesina and kicked against the demand by the United States of America for a fresh, independent probe of the AfDB President who had earlier been cleared by the ethics committee of the bank.

In his letter to 12 former African Presidents, Obasanjo said that Africa must stand up and not allow its institutions to be unduly controlled by non-African countries.

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Obasanjo said that the bank has witnessed tremendous growth under Adesina’s leadership and has doubled its capital base since he took over.

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