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Research Analysis

Tomato prices drop as sellers lament high tariffs on imported rice

The lastest Nairametrics household survey has revealed that the prices of most food items across major Markets in Lagos have not recorded significant changes in the last two weeks.

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Prices of tomato, Price of rice turkey tomatoes, Prices of major food items continue to rise in major markets as border closure remains 

The lastest Nairametrics household survey has revealed that the prices of most food items across major Markets in Lagos have not recorded significant changes in the last two weeks. However, the findings show that the price of tomatoes reduced slightly by 22%, with a basket of tomatoes now selling for N14,000 as against N18,000 two weeks ago.

Note that while the price reduction is a good development, there is still a huge difference between the current price and how much tomatoes were sold for two months ago. Recall that in April, Nairametrics reported that a big basket of tomatoes was sold for just N8,000.

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The results obtained show commodities that are relatively the same across markets and those that are significantly different. It also reveals insight as obtained from our interviews. Hence, this report highlights selected Lagos markets where certain food items are relatively cheaper.

Goods with Relatively the same price: Items such as milk (Tin and refilled), beverages, gas, egg, and fish are sold at relatively the same price across the markets. Basically, peak milk (refill 500g) is sold at an average price of N1,000 while Milo tin (500g) is sold at an average cost of N1,050.

A crate of eggs is sold at an average price of N975, although Mushin Market, Oyingbo and Mile 12 markets sell a crate of eggs for N1000, while Daleko Market sells the cheapest for N900.

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Also, the filling of a 5kg gas cylinder costs N1,688 on the average, even as Daleko, Oyingbo and Mile 12 markets sell it for N1,700 while Mushin market sells it cheapest for N1,650. 12.5kg of the gas is filled at an average price of N4,163.

Goods with Relative difference in price: Although Mile 12 goods are getting closer to selling local oil as cheap as Daleko market, Daleko market still proves to be the one stop place for the purchase of cheap products such as rice, beans, garri, palm oil and local vegetable oil.

[READ MORE: 15,000 jobs to be created by Gezawa Commodity Market and Exchange]

A bag of 50kg Royal Stallion rice is sold for N14,000 in Mushin market, N13,500 in Daleko market, N14,500 in Oyingbo market while mile 12 market sells it N15,000.

Beans (Oloyin) is sold for N16,000 in both Mushin market and Oyingbo market. However, the food item is sold highest in Mile 12 market for N18,000 while Daleko market sells cheapest at N14,500.

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Mile 12 Market, Lagos

Prices of tomato affected by rainfall: Nairametrics Research interviewed markets sellers and buyers to better understand the cause of the frequent changes in the price of some specific household commodities; specifically tomatoes. According to a major tomato dealer named Yahaya Daudu, Northern Nigeria is currently experiencing rainfall. He attributed this to be the cause of the increase in the price of tomatoes in recent weeks.

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“Due to the current rain in the north, farmers stopped planting tomatoes as rain spoils the tomato plantations, instead, they channel our attention to more rain friendly crops such as; corn, union, Guinea corn, beans, rice, etc.”

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On imported rice price hike: A major dealer in rice and melon (Mr. Chuks), attributed the price fluctuations in rice to the exploitations by law enforcement agencies such as the Nigerian Customs. According to Chuks, rice produced and packed in Thailand is sold for an average price rate of N7,000 at the Cotonou border, but the tariffs placed by the customs on the importation of each bag causes the price to hike up to its current state.

He also opined that the Government should do something about the tariffs placed on goods such as melon which currently sells for over a hundred thousand Naira (N100,000) per bag.

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

See the price table below:

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ItemsBrandUnitMUSHIN (20/6/2019)DALEKO (20/6/2019)OYINGBO (20/6/2019)MILE 12 (20/6/2019)Average MUSHIN (6/6/2019)DALEKO (6/6/2019)OYINGBO (6/6/2019)MILE 12 (6/6/2019)Average
FishTitus (Mackerel)1 kg400450450433.33333333333400450425
Bag of RiceBasmati5kg5500500055005000525055005000550050005250
Bag of RiceMama Gold10kg3500300037003000330035003000370030003300
Bag of RiceRoyal Stallion50Kg14000135001450015000142501400013000145001400013875
Bag of RiceMama Gold50kg14500135001450015000143751450013500140001400014000
Bag of RiceCaprice50kg150001350014500150001450015000130001400014000
Bag of RiceFalcon25kg6800650068006800672568006500680068006725
Bag of RiceOfada5kg2500250025002500
Bag of BeansOloyin50kg16000145001600018000161251600014500165001600015750
Bag of BeansWhite50kg14000135001500015000143751400013500150001400014125
Bag of BeansBrown50kg14000135001450015000142501400013500140001400013875
Tuber of YamAbuja1 Big Size Tuber1300130012001266.66666666671400130012001300
Tuber of YamAbuja1 Medium Size Tuber700800600700700650500616.66666666667
Carton of NoodlesIndomie305g (Belle full)29002900290029002900290029002900
Carton of NoodlesIndomie200g (Hungry man)3100320031003133.33333333333100320031003133.3333333333
Carton of NoodlesChikki100g2000220021002100210020002200210021002100
Carton of NoodlesMinimie70g15001500150014501487.515001500150014501487.5
Carton of NoodlesGolden Penny70g14001400140014501412.514001400140014501412.5
Bag of GarriIjebu80kg7500700072007000717575007000720070007175
Bag of GarriWhite50kg4500390045004000422560006500650040005750
Bag of GarriYellow50kg5200450055005000505065006000600050005875
Basket of PotatoSweetBig Basket35003500
Basket of PotatoSweetSmall Basket700700750750
Basket of PotatosweetSmallest Basket200200
Basket of PotatoIrishBig Basket
Basket of PotatoIrishBiggest Basket20000200001500015000
Basket of PotatoIrishMedium Basket2500250025002500
Basket of PotatoIrishSmall Basket1500150015001500
Packet of PastaGolden Penny500g3300340035003400200200200200200
Packet of PastaDangote500g3500340034003433.3333333333200200200200200
Packet of PastaPower500g
Packet of PastaBonita500g
Gallon of Palm OilLocal5 Litres1800160018001600170018001800180018001800
Gallon of Palm OilLocal25 Litres9500880090009000907588008600890090008825
Gallon of Vegetable OilLocal5 Litres2000180020001800190020002000200020002000
Gallon of Vegetable OilLocal25 Litres10000950010000950097501000095001000098009825
Gallon of Vegetable OilKings5 Litres3000300030003000300030003000290029002950
Gallon of Vegetable OilWesson5 Litres3900380038003800382538003800380038003800
Gallon of Vegetable OilMamador3.8 Litres2450240025002450245024502400250024002437.5
Gallon of Vegetable OilPower3 Litres1800180018001800180018001800180018001800
Basket of TomatoOval Shaped1 Small Basket
Basket of TomatoRound Shaped1 Small Basket
Bunch of PlaintainPlaintain1 Big Bunch600550550500550500550400483.33333333333
Bag of FlourDangote50kg105001100010750105001100010750
Bag of FlourHoney well50Kg110001100011000110001100011000
Bag of FlourMama Gold50kg115001100011250115001100011250
Bag of SugarDangote50kg320032003200320032003200
MilkPeak Powdered (Tin)400g12501200120012001212.51250120012001216.6666666667
Milkpeak Powdered(Tin)900g24002350240023002362.524002350240023002362.5
MilkPeak milk (Refill)500g1000100010001000100010001000100010001000
MilkDano Powdered (Tin)500g950950100010009759509501000950962.5
MilkDano Powdered(Tin)900g20002000200020002000190019001933.3333333333
MilkDano (Refill)500g800800800800800800800800800800
MilkThreeCrown (Refill)380g700700700700700650700700650675
MilkLoya Powdered (Tin)400g10001000
MilkLoya (Refill)400g800800800800800800800800800800
MilkCoast (Refill)500g750750750750750750700750700725
Cocoa BeveragesMilo (Tin)500g1000110011001000105010001100110010001050
Cocoa BeveragesMilo (Tin)900g2100210022002100212521002100210021002100
Cocoa BeveragesMilo Refill500g900900900850887.5900850800800837.5
Cocoa BeveragesBournvita Refill500g950900950900925900900950900912.5
Cocoa BeveragesBournvita (Plastic)500g1000100010001000100010001000
Cocoa BeveragesBournvita (Plastic)900g2000200020002000200020002000200020002000
Cocoa BeveragesOvaltine Refill500g800800800850812.5800800800850812.5
Cocoa BeveragesOvaltine(Plastic)500g1100110010001100107511001100100011001075
CoffeeNescafe Gold Blend100g18001850180018001812.518001850180018001812.5
CoffeeNescafe Classic50g650600600600612.5650600600600612.5
TeaLipton Yellow label52g300280300300295300280300300295
TeaTop tea52g300300300300300300300300300300
SugarSt' Loius Sugar(Cube) 500g400450425450430450443.33333333333
SugarGolden Penny Sugar (cube)500g350300350300325350300350300325
BreadVal-U1 loaf300300300300
BreadButterfield1 loaf300300300300
EggN/ACrate1000900100010009751000900900933.33333333333
MagarineBlue Band450g
MagarineSimas250g
Baby MilkSMA Gold500g30003000
Baby MilkNAN500g21002100
Bottled Water (Refill)CwayRefill500500
Juice5 Alive1 litre300300
JuiceChivita1 litre550600600550575300300
GasRefilling12.5kg41004200425041004162.53500350035003500
GasRefilling5kg16501700170017001687.51500150015001500
TomatoesBig Basket14000140001800018000
Medium Basket70007000
Small Basket70007000
FishKote (Horse Mackerel)1 kg450400400416.66666666667450400425

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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.

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Oil and Gas companies revenues plummet by over N84 billion in 3 months

Revenue losses span across oil and gas upstream and downstream at levels not seen in recent years.

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Oil and Gas companies revenues plummet by over N84 billion in 3 months, COVID-19, Coronavirus, access bank mourns staff

Revenues of some of the major oil and gas companies quoted on the Nigerian Stock Exchange fell by about 38% in the second quarter of 2020 wiping out a whopping N84.7 billion from their topline revenues.

This is according to data compiled from the recently released results of the listed companies in the oil and gas sector. They include Mobile Oil (II), Ardova, Total, & Seplat, the only major oil and gas firms that have released their Q2 financials. Oando and Conoil, are yet to release their results. The data was compiled by Nairametrics Research.

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Total, Mobil, and Ardova are oil marketing companies while Seplat is into upstream oil and gas production. They are also some of the biggest oil companies listed on the exchange and in Nigeria.

READ MORE: Nigerian hotels count revenue losses due to pandemic-induced plunge

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The companies reported combined revenue of N135.6 billion in the second quarter of 2020 compared to N220.3 billion in the corresponding quarter of 2019. Revenue in Q1 was N219 billion. The Nigerian economy, particularly the oil and gas sector has been hit hard by the oil price crash and the COVID-19 pandemic and could be a major reason for the loss in revenues.

The companies also recorded a combined loss before tax of N16.6 billion compared to N38 billion in pretax profits reported in the same period in 2019. The second-quarter losses compound an already bad situation for these companies after reporting a loss before tax of N28.7 billion in the first quarter of 2020. These companies have now seen a combined N45.4 billion wiped out of their profits.

READ MORE: What banks might do to avoid getting crushed by Oil & Gas Loans

Why the revenue drop?

A closer look at the data reveals most of the losses came from the oil marketing firms Total and Mobil. Over N56 billion of the revenue loss was between Mobil and Total. Seplat and Ardova lost just over N5 billion respectively.

A cursory review of their results suggests the companies suffered from a drop in demand for refined products such as fuel, diesel, and lubricants. Nigerians were mostly on lockdown throughout April and May before reopening partially in June and July. However, the damage had been done as adherence to safety procedures meant fewer people were commuting impacting heavily on sales.

Seplat was also hit by dipping crude oil prices and weak demand for its crude. Nairametrics reported back in April that oil prices at some point fell to negative territory as demanded waned globally.

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Despite the drops, the companies continued to incur overheads and operating expenses which they could not entirely avoid despite the lockdowns. Gross Margins for the quartet fell by 61% year on year putting the companies on the path to losses.

READ ALSO: Ethereum surges pass $345, ETH miners record highest revenue since Q3 2018

beyondperception

Implication on the wider economy

A review of some of the results already seen by Nairametrics indicates nearly all sectors recorded revenue losses. This is also likely the same situation across the country as Nigeria awaits the second-quarter GDP numbers sometime this month.

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Though oil and gas firms faced a twin dose of a fall in crude oil prices and the Covid-19 situation, all sectors except for oil and gas and Agriculture sectors recorded high revenue declines. The companies under review last reported a similar drop in revenues and loss before tax in 2016 when Nigeria entered a recession.

READ ALSO: Govt. rakes in N653 billion in June as exchange rate gain, taxes and oil sales boost revenues

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The government is projecting a GDP contraction in excess of 3% and already reported a revenue shortfall of over 50% this year.

Fortunately, the companies still held a sizeable cash balance of N136.7 billion t the end of the quarter putting them in a position to weather the storm.

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Nigeria generates N327.2 billion VAT in Q2, as revenue plunges across critical sectors

The decline in VAT implies that uncertainty surrounds the effective implementation of the 2020 budget.

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Nigeria generates N327.2 billion VAT in Q2

Nigeria generated a total sum of N327.1 billion revenue from Value Added Tax (VAT) in the second quarter of 2020, up by 0.81% when compared to N324.58 billion in Q1 2020. This is contained in the latest VAT report released by the National Bureau of Statistics (NBS).

Despite VAT remittance growing by 0.81% in the second quarter, critical sectors in the Nigerian economy such as manufacturing, hotel catering, trading, transport, oil, and construction recorded significant declines in VAT remittances during the period. Overall, twenty-one (21) of the twenty-eight (28) sectors recorded declines in VAT remittances in Q2 2020, a significant decline which may be largely attributed to the COVID-19 induced lockdown across the country during the period.

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READ ALSO: Value of shares traded by top 10 stockbrokers up 133% despite COVID-19

VAT by sectors: Breaking down the numbers

  • In Q2 2020, the biggest decline in VAT remittance was from hotel and catering service with a 45.5% drop in VAT remittance from N2.52 billion received in Q1 2020 to N1.36 billion at the end of Q2 2020.
  • Also, the manufacturing sector recorded a 19% decline in VAT remittance from N37.3 billion in Q1 2020 to N30.2 billion. Expectedly, VAT earning from oil marketing plugged 18.8%, while oil production dropped by 7.4%.
  • Other critical sectors that recorded declines in VAT earnings in Q2 2020 include Automobiles (-30%), Breweries (-27.3%), Construction (22.9%), Commercial and Trading (-19%), Agriculture and Plantation (-14.8%).

  • Meanwhile, despite significant decline across critical sectors, the increase in VAT was largely driven by pioneering. In Q2 2020, Nigeria received 643.7% boost in pioneer VAT remittances, from N868.8 million in Q1 to N6.46 billion in Q2 2020. This represents the biggest growth in VAT remittances across all sectors in the period.

Revenue challenge threatens 2020 budget implementation

The decline in Value Added Tax across some key sectors in the Nigerian economy implies that uncertainty still surrounds the effective implementation of the 2020 budget.

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READ ALSO: Top 10 Stockbrokers trade N391.9 billion in Q1 2020 despite bearish market

Recall that in the 2019 budget, Nigeria projected a total Value Added Tax revenue of N1.7 trillion as it anticipated higher tax revenues from vatable goods and services. Meanwhile, Value Added Tax collected during the year was N1, 188.85 (billions) compared to a budget of N1,703.89 billion, thereby representing a negative variance of N515 billion or 30%.

Again, in the recently approved 2020 revised budget, the FG once again estimated total Value Added Tax revenue of N2.03 trillion. However, in H1 2020, the total Value Added Tax generated by Nigerian is estimated at N651.7 billion, represents 32.1% of target met.

READ ALSO: Nigeria’s records 6.1 percent tax to GDP as tax base for VAT rise to N23.7 trillion

COVID-19 pandemic has dealt the world economy a huge blow, characterized by travel restriction, supply chain disruption and weak oil prices. Nigeria on the other hand has not been spared by the economic downturn with revenue expected to decline further amid recession fears.

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Research Analysis

Eid-El-Kabir: Food prices surge, as ram traders decry low patronage

Major food items in Lagos state markets continue to endure persistent price increase.

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Eid-El-Kabir celebration is here again and Nigerians are ready to join their families and friends in the festivities. Every year, as Muslim faithfuls across the world celebrate Eid-El-Kabir, the acts of buying and slaughtering rams are sine qua nons of the celebration and a form of sacrifice to Allah (S.A.W).

Nairametrics Research visited major markets for a ‘Special’ household market survey and found that ram/cow prices have typically ramped up. Meanwhile, traders lamented low patronage and sales.

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Also, major food items across main markets in Lagos State have continued to increase in price. Staples such as rice, beans, yam, garri, potatoes, and others, recorded significant jumps in prices when compared to figures obtained two weeks ago. As Nairametrics reported in the previous market surveys, prices of food items have been recording a significant increase since the COVID-19 induced lockdown disrupted major economic activities.

According to the latest survey, a big basket of oval-shaped tomatoes now sells for an average of N12,000, indicating a 20% increase compared to N10,000 recorded two weeks ago. Also, a big basket of sweet potatoes which previously sold at N8,000, jumped by as much as 81.3% to sell for an average of N14,500.

The report detailed items that recorded an increase in price, items that decreased in price, items that maintained initial prices, special market reports, and key insights.

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Items that witnessed price increase

Some of the items that recorded significant increases in price include:

  • A big bag of melon seeds (Egusi), which was sold for an average of N39,000, now costs an average of N42,000. This represents a 7.7% increase in price.
  • The price of a big bag of dry onions now goes for an average of N25,000 compared to an average of N17,000 recorded two weeks ago, thus indicating a 47.1% increase in price.
  • The price of a big bag of white garri within the last two weeks, increased by 18.4% from an initial average of N11,250 to sell for an average of N13,325.
  • A bag of yellow garri recorded a 3.1% increase in price as it currently sells for an average of N12,625 when compared to the N12,250 recorded two weeks ago.
  • A bag of 10kg Mama Gold rice increased by 6.3% to sell for an average of N4,250 compared to N4,000 recorded two weeks ago.
  • The price of a 50kg bag of rice spiked by 8.8% from N21.375 recorded two weeks ago to sell for an average of N23,250.
  • A big tuber of yam that was initially sold for an average of N838 now costs an average of N913. This represents a 9% increase in price.
  • A medium-sized tuber also increased by 24% to sell for an average of N775 as against N625 recorded a fortnight ago.
  • A big basket of oval-shaped tomatoes now sells for an average of N12,000 at Mile 12 market, an increase of 20% compared to N10,000 recorded two weeks ago.
  • A bag of yellow maize that was initially sold for an average of N17,250 now sells for an average of N19,667 indicating a 14% increase in price.
  • Also, a bag of white maize increased by 8.6% to sell for an average of N19,000 from the initial average price of N17,500.

Items that maintained initial price

  • A carton of 210g Indomie (Hungry man size) continues to sell for an average of N3,200.
  • A 305g size of Indomie sells for an average of N2,900.
  • 500g and 900g Milo tins still sell for an average of N1,038 and N2,075 respectively
  • The prices of Kote and Titus fish continue to go for N563 and 575 respectively.
  • 12.5kg of household cooking gas (refilled) continues to sell for an average of N3,375 while 5kg cylinder is still filled for an average of N1,400.
  • Bush mango seeds (Ogbono) still sell for N75,000 at Mile 12 market, same as recorded two weeks ago.
  • A 50kg bag of flour, Honeywell, Mama Gold and Dangote still sell for N11,200, N11,075 and N11,100 respectively.
  • A 500g packet of pasta (Golden Penny) continue to sell for an average of N4,300, while Dangote pasta sells for an average of N4,125.

Special Feature: Rams Markets

Traders in the market have complained of low sales turn-out, a situation that was caused by a hike in the prices of the commodity which comes directly from the Northern part of Nigeria. One ram seller at Kappa Market said:

“We have limited stock of ram this year compared to last year because there is no much money in the country. We are not expecting good profit this year because of low sales and high cost from the North. Some cows here are sold for N250,000, N500,000 and even N1 million depending on the size of the cow.”

He explained further to Nairametrics Research that some of the rams from the North are sold for an average of N180,000 compared to last year when the same size of ram was sold for N150,000 while some that were sold for N95,000 last year now sell for an average of N110,000.

A visit to Mangoro market revealed that low sales were anticipated by the traders, considering the impact of COVID-19 pandemic, leading to low stock of rams. However, Mr. Mustapha. who spoke to Nairametrics Research at Mangoro market, said that considering the economic situation in Nigeria, sales are not that bad, as some people have started buying cows and even rams in preparation for the Eid festivity.

“We currently have rams of different sizes, which vary in price. Some small sizes are sold for as low as N70,000 and as much as N150,000. Bigger sizes of rams sell for as low as N200,000 up to N450,000,” he explained.

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Low stock of Cows at Kappa market

Market Insights

Big bags of pepper, which were not available in the market two weeks ago are now being sold for an average of N7,500 each, compared to N15,000 recorded last month. The decrease in price was attributed to an influx of fresh peppers from the North. A medium-sized bag of peppers that was sold for an average of N10,000 two weeks ago now sells for an average of N4,500. This represents a 55% decrease in price.

beyondperception

Round-shaped tomatoes were sighted at Mile 12 market, having been unavailable in the market over the past months. A big basket of round-shaped tomatoes is currently sold within the range of N15,000 and N16,000.

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According to a tomatoes seller at Mile 12 Market, “We have three types of tomatoes. The most expensive is the Hausa round-shaped tomatoes, which sells for an average of N15,000, another type is the Yoruba round-shaped tomatoes, which sells for an average of N14,000 while the cheapest is the oval-shaped tomatoes generally regarded as Yoruba tomatoes, which sells between the range of N12,000 and N13,000.”

A big basket of sweet potatoes that was initially sold for an average of N8,000 two weeks ago has spiked by 81.3% to sell for an average of N14,500. Mr Yaya, a potatoes trader, told Nairametrics Research that the recent increase in price of sweet potatoes is due to increase in transportation costs.

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The price of a big nylon of crayfish increased by 21.4% to sell for an average of N17,000 compared to N14,000 recorded two weeks ago. According to Mr. John who sells crayfish at Mile 12 market, “We are in the season where the price of crayfish is supposed to be cheap but unfortunately, the reverse is the case”. He, however, has no explanation as to why the price of the item keeps increasing at this time.

A rice seller at Oyingbo market told Nairametrics research that local rice is of two types: the stony ones, currently being sold for an average of N20,000 while the brand of rice with superior quality sells for an average of N25,000. However, he said that foreign rice currently sells for an average of N29,000 at the market.

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Below are the average prices of frozen food items measured in cartons:

Chicken lap – N12,500

Full Chicken – N12,500

Turkey – N14,200

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ItemsBrandUnitMUSHIN (21/07/2020)DALEKO (21/07/2020)OYINGBO (21/07/2020)MILE 12 (21/07/2020)Average MUSHIN (2/07/2020)DALEKO (2/07/2020)OYINGBO (2/07/2020)MILE 12 (2/07/2020)Average
Bag of RiceBasmati5kgNANANANANANANANANANA
Bag of RiceMama Gold10kgNA4000450045004250NA4000NANA4000
Bag of RiceRoyal Stallion50Kg29000NA29000295002950028500NA280002900028500
Bag of RiceRice Master10kgNA4000NA40004000NA3500NA40003750
Bag of RiceMama Gold50kg22000225002500024000232502200021500210002100021375
Bag of RiceCaprice50kg28000NA29000285002850028000NA275002750027666.666666667
Bag of RiceMama's Pride50kg23000210002250023000220002150021000210002100021125
Bag of RiceFalcon25kgNANANANANANANANANANA
Bag of BeansOloyin50kg21000195002200022000207501300012500130001250012750
Bag of BeansWhite50kg30000290003000032000305002200020500210002100021125
Bag of BeansBrown>50kg32000295003500030000297502050019500215002100020625
Tuber of YamAbuja1 Big Size Tuber9009008501000912.5850800800900837.5
Tuber of YamAbuja1 Medium Size Tuber750800750800775650600600650625
Carton of NoodlesIndomie305g (Belle full)2900290029002900290029002900290029002900
Carton of NoodlesIndomie210g (Hungry man)3200320032003200320032003200320032003200
Carton of NoodlesChikki100g2000220021002100210020002200210021002100
Carton of NoodlesMinimie70g1600165017001650165016001650170016501650
Carton of NoodlesGolden Penny70g1400140014001400140014001400140014001400
Bag of GarriIjebu80kg13000135001500012000133751300013500130001400013375
Bag of GarriWhite50kg11000115001900011800133251100011500115001100011250
Bag of GarriYellow50kg12000125001400012000126251200012500120001250012250
Basket of PotatoSweetBig Basket145001450080008000
Basket of PotatoSweetSmall Basket700600600633.33333333333700600600633.33333333333
Basket of PotatosweetSmallest Basket200300200233.33333333333200200200200
Basket of PotatoIrishBiggest Basket28000280002000020000
Basket of PotatoIrishSmall Basket200025002250200020002000
Basket of PotatoIrishSmallest Basket1700150015001566.66666666671700150015001566.6666666667
Packet of PastaGolden Penny500g4300440043004200430043004400430042004300
Packet of PastaDangote500g4100410042004100412541004100420041004125
Packet of PastaPower (1 pc)500g220220220220220220220220220220
Packet of PastaBonita (1 pc)500g230200230220220230200230220220
Gallon of Palm OilLocal5 Litres2200210021002100212522002100210021002125
Gallon of Palm OilLocal25 Litres11000110001100011000110001100011000110001100011000
Gallon of Vegetable OilLocal5 Litres2400220023002200227524002200230022002275
Gallon of Vegetable OilLocal25 Litres13100130001350013500132751310013000133001300013100
Gallon of Vegetable OilKings5 Litres3000300030003000300030003000300030003000
Gallon of Vegetable OilWesson5 Litres3900390039003900390039003900390039003900
Gallon of Vegetable OilMamador3.8 Litres25002450250024002462.525002450250024002462.5
Gallon of Vegetable OilPower3 Litres1800180018001800180018001800180018001800
Bunch of PlaintainPlaintain1 Big Bunch500400450500462.5500400450500462.5
Bag of FlourDangote50kg11200112001100011000111001120011200110001100011100
Bag of FlourHoney well50Kg11200112001120011200112001120011200112001120011200
Bag of FlourMama Gold50kg11000113001100011000110751100011300110001100011075
MilkPeak Powdered (Tin)400g12501200120012001212.512501200120012001212.5
Milkpeak Powdered(Tin)900g2400240024002300237524002400240023002375
MilkPeak milk (Refill)500g10501000100010001012.510501000100010001012.5
MilkDano Powdered (Tin)500g1000100010001000100010001000100010001000
MilkDano Powdered(Tin)900g2000200020002000200020002000200020002000
MilkDano (Refill)500g850800800800812.5850800800800812.5
MilkThree Crown (Refill)380g720700750700717.5720700750700717.5
MilkLoya Powdered (Tin)400g10001000100010501012.510001000100010501012.5
MilkLoya (Refill)400g850800850800825850800850800825
MilkCoast (Refill)500g750750750750750750750750750750
Cocoa BeveragesMilo (Tin)500g10001100105010001037.510001100105010001037.5
Cocoa BeveragesMilo (Tin)900g2000210021002100207520002100210021002075
Cocoa BeveragesMilo Refill500g900900900900900900900900900900
Cocoa BeveragesBournvita Refill500g95010009509009509501000950900950
Cocoa BeveragesBournvita (Plastic)900g2000200020002000200020002000200020002000
Cocoa BeveragesOvaltine Refill500g800800850850825800800850850825
Cocoa BeveragesOvaltine(Plastic)500g1100110010001100107511001100100011001075
CoffeeNescafe Classic50g600600600600600600600600600600
TeaLipton Yellow label52g310290300300300310290300300300
TeaTop tea52g300300300300300300300300300300
SugarSt' Loius Sugar(Cube) 500g500550550550537.5500550550550537.5
SugarGolden Penny Sugar (cube)500g350350350400362.5350350350400362.5
BreadVal-U1 loaf500NA450NA475450NA450NA450
BreadButterfield1 loaf500450450500475450400450450437.5
EggN/ACrate1100120012001100115095090010001000962.5
Bottled Water (Refill)CwayRefill600600650600612.5600600650600612.5
Juice5 Alive1 litre600550550600575600550550600575
JuiceChivita1 litre600550600550575600550600550575
GasRefilling12.5kg3500300034003600337535003000340036003375
GasRefilling5kg1400140014001400140014001400140014001400
TomatoesBig Basketround shaped1500015000NANA
Medium Basketround shaped1000010000NANA
Small Basketround shaped60006000NANA
Big BasketOval Shaped12000120001000010000
Small BasketOval Shaped7500750065006500
FishKote (Horse Mackerel)1 big Fish550600550500550550600550500550
FishTitus (Mackerel)1 big Fish550550550600562.5550550550600562.5
PepperBig bag75007500NANA
Medium bag450045001000010000
MaizeYellow18000220001900019666.666666667180001650017250
White18000200001900019000180001700017500
MelonBig bag42000420003900039000
OnionsBig bagDry Onions25000250001700017000
OnionsBig bagNew OnionsNANANANA
Bush mango seed(Ogbono)1 big bag75000750007500075000
Frozen foodFull chickenCarton125001250012500
Frozen foodChicken lapCarton125001250012500
Frozen foodTurkeyCarton142001420014200
Crayfish17000170001400014000

About Nairametrics Food Price Survey

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.

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