Once again, the Nairametrics research team recently visited major markets across Lagos State to obtain the prices of household food items. Findings from the survey show that among the major market selected, Mile 12 sells cheapest. Also, the price of local rice remains higher compared to imported rice.
The various markets where the survey was conducted includes Mushin, Daleko, Mile 12, and Oyingbo market. The customers and sellers made notable complaints concerning the fluctuating prices of commodities.
Findings also revealed the average price of goods, commodities sold for relatively the same price across the various markets, significantly different price and insight obtained in the market.
Relatively the same price: According to the findings of Nairametrics Survey, commodities such as the gas filling, crate of eggs, vegetable oil, pasta, a kilo of fish, Cway, beverages, milk, and cocoa beverages are sold for relatively the same prices across the markets; although with just a little bit of price variations.
For instance, the 5 litres of locally-made Vegetable oil is sold for an average price of N1,950, even as Mushin, Daleko, and Oyingbo markets sell it for N2,000. Mile 12 market sells it the cheapest for N1,800. Also, 25 litres of the same commodity is sold at a parallel rate of N2,000 across Mushin, Daleko, and Oyingbo markets, while Mile 12 offers the cheapest price of N1,500.
Kings Vegetable oil and Wesson (5 litres) are sold at a uniform price of N3,000 and N3,900 respectively across board; although Mushin market and Oyingbo market sell Mamador (3.8 litres) for N2,500. Daleko market sells for N2,450 while Mile 12 market offers the cheapest price for N2,400.
Relative difference in price: Notable variances were recorded in the prices of rice, palm oil, beans and yam. As much as foreign rice remains banned from coming through the Nigerian borders, locally-grown rice (Mama’s pride) still cost higher compared to the other various imported rice. Mama’s pride is sold for an average of N15,625. Oyingbo market is selling the highest at N16,000 while the other three markets sell for N15,500. A bag (50 kg) of rice, Royal stallion, Mama Gold and Caprice are sold for an average of N14,875.
Meanwhile, sellers lamented over the essence of closing down the Nigerian border if the locally-grown rice is still very expensive compared to the other varieties.
Also, a bag of 50kg beans (Oloyin) is sold for N16,000 at Mushin and Oyingbo markets. Mile 12 market sells for 15,000, while Daleko market sells for N13,500. Daleko also sells brown beans the cheapest as they offer the commodity for just N12,000 while Mile 12 and Mushin market sell for 15,000 with Oyingbo market selling the highest at N14,500.
Mushin market and Oyingbo market sells palm oil (5 litres) for N1,800 while Daleko and Mile 12 market sells at a lower rate for N1,500. The 25 litres of the same commodity goes for N9,000 in Mushin market and Oyingbo market, as Mile 12 market sells cheapest in this regard for N8,500 Daleko market sells for N8,800.
Special Market: Daleko market is known for its large stock and low pricing of products such as rice, beans, vegetable, and palm oil. A seller of grain in Daleko market whose name is Charles, told Nairametric research team that there are three types of brown beans. The cheapest which he classified as “pelebe” (tiny) sells at an average of N9,500, followed by olotu which sells for N12,000. Meanwhile, the typical brown beans is sold for N18,000.
Charles further stressed the need for the government to reconsider its policy on rice importation. He said if the status quo must be maintained, an affordable alternative should be put in place so as to ease the burden of the traders and the masses.
On the other hand, some traders interviewed by Nairametrics lamented over the lack of capital to purchase rice in large quantity directly from the distributors. This is why they resort to obtaining the goods from a middleman which in turn increases the prices of goods or the level of profit.
Mile 12 market was filled with customers on Thursday, as they came out en-mass with optimism as the price of tomatoes gradually reduces. Recall that Nairametrics earlier reported that a big basket of tomatoes was sold for a huge sum of N18,000 which deteriorated up to N27,000. But in recent weeks, it has reduced gradually and now sells for N12,000.
Although the price of tomatoes has not returned to its initial cost of N8,000 the public expressed hope that it will find its place back as there is now considerable availability of the commodity in the market.
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 table below
|Items||Brand||Unit||MUSHIN (04/7/2019)||DALEKO (04/7/2019)||OYINGBO (04/7/2019)||MILE 12 (04/7/2019)||Average||MUSHIN (20/6/2019)||DALEKO (20/6/2019)||OYINGBO (20/6/2019)||MILE 12 (20/6/2019)|
|Bag of Rice||Basmati||5kg||5500||5000||5500||5000||5250||5500||5000||5500||5000|
|Bag of Rice||Mama Gold||10kg||3400||2800||3500||3200||3225||3500||3000||3700||3000|
|Bag of Rice||Royal Stallion||50Kg||15000||14000||15000||15500||14875||14000||13500||14500||15000|
|Bag of Rice||Rice Master||10kg||3500||2800||3200||3000||3125|
|Bag of Rice||Mama Gold||50kg||15000||14000||15000||15500||14875||14500||13500||14500||15000|
|Bag of Rice||Caprice||50kg||15000||14000||15000||15500||14875||15000||13500||14500||15000|
|Bag of Rice||Mama's Pride||50kg||15500||15500||16000||15500||15625|
|Bag of Rice||Falcon||25kg||6800||6500||6800||6800||6725||6800||6500||6800||6800|
|Bag of Rice||Ofada||5kg||2500||2500||2500|
|Bag of Beans||Oloyin||50kg||16000||13500||16000||15000||15125||16000||14500||16000||18000|
|Bag of Beans||White||50kg||14000||13500||15000||15000||14375||14000||13500||15000||15000|
|Bag of Beans||Brown||50kg||14000||12000||14500||14000||13625||14000||13500||14500||15000|
|Tuber of Yam||Abuja||1 Big Size Tuber||1100||1200||800||1033.3333333333||1300||1300||1200|
|Tuber of Yam||Abuja||1 Medium Size Tuber||800||850||550||733.33333333333||700||800||600|
|Carton of Noodles||Indomie||305g (Belle full)||2900||2900||2900||2900||2900||2900||2900||2900|
|Carton of Noodles||Indomie||200g (Hungry man)||3200||3200||3200||3200||3200||3100||3200||3100|
|Carton of Noodles||Chikki||100g||2000||2200||2100||2100||2100||2000||2200||2100||2100|
|Carton of Noodles||Minimie||70g||1500||1500||1500||1500||1500||1500||1500||1500||1450|
|Carton of Noodles||Golden Penny||70g||1400||1400||1400||1450||1412.5||1400||1400||1400||1450|
|Bag of Garri||Ijebu||80kg||7500||7000||7200||7000||7175||7500||7000||7200||7000|
|Bag of Garri||White||50kg||5000||4500||5000||5000||4875||4500||3900||4500||4000|
|Bag of Garri||Yellow||50kg||6000||5500||6000||6000||5875||5200||4500||5500||5000|
|Basket of Potato||Sweet||Big Basket||4500||4500|
|Basket of Potato||Sweet||Small Basket||700||700||700|
|Basket of Potato||sweet||Smallest Basket||200||200||200|
|Basket of Potato||Irish||Biggest Basket||20000||20000||20000|
|Basket of Potato||Irish||Medium Basket||2500||2500||2500|
|Basket of Potato||Irish||Small Basket||1500||1500||1500|
|Packet of Pasta||Golden Penny||500g||3300||3400||3400||3400||3375||3300||3400||3500|
|Packet of Pasta||Dangote||500g||3500||3400||3500||3400||3450||3500||3400||3400|
|Packet of Pasta||Power||500g||180||200||180||200||190|
|Packet of Pasta||Bonita||500g||200||200||200||200||200|
|Gallon of Palm Oil||Local||5 Litres||1800||1500||1800||1500||1650||1800||1600||1800||1600|
|Gallon of Palm Oil||Local||25 Litres||9000||8800||9000||8500||8825||9500||8800||9000||9000|
|Gallon of Vegetable Oil||Local||5 Litres||2000||2000||2000||1800||1950||2000||1800||2000||1800|
|Gallon of Vegetable Oil||Local||25 Litres||10000||10000||10000||9500||9875||10000||9500||10000||9500|
|Gallon of Vegetable Oil||Kings||5 Litres||3000||3000||3000||3000||3000||3000||3000||3000||3000|
|Gallon of Vegetable Oil||Wesson||5 Litres||3900||3900||3900||3900||3900||3900||3800||3800||3800|
|Gallon of Vegetable Oil||Mamador||3.8 Litres||2500||2450||2500||2400||2462.5||2450||2400||2500||2450|
|Gallon of Vegetable Oil||Power||3 Litres||1800||1800||1800||1800||1800||1800||1800||1800||1800|
|Bunch of Plaintain||Plaintain||1 Big Bunch||500||450||500||550||500||600||550||550||500|
|Bag of Flour||Dangote||50kg||10800||10500||11000||11000||10825||10500||11000|
|Bag of Flour||Honey well||50Kg||11500||11000||11000||11166.666666667||11000||11000|
|Bag of Flour||Mama Gold||50kg||11500||11300||11000||11000||11200||11500||11000|
|Bag of Sugar||Dangote||50kg||3500||3200||3400||3200||3325||3200||3200|
|Milk||Peak Powdered (Tin)||400g||1250||1200||1200||1200||1212.5||1250||1200||1200||1200|
|Milk||Peak milk (Refill)||500g||1050||1000||1000||1000||1012.5||1000||1000||1000||1000|
|Milk||Dano Powdered (Tin)||500g||1000||950||1000||1000||987.5||950||950||1000||1000|
|Milk||Loya Powdered (Tin)||400g||1000||1000||1050||1000||1012.5|
|Cocoa Beverages||Milo (Tin)||500g||1000||1100||1100||1000||1050||1000||1100||1100||1000|
|Cocoa Beverages||Milo (Tin)||900g||2100||2100||2100||2100||2100||2200||2100|
|Cocoa Beverages||Milo Refill||500g||900||900||900||850||887.5||900||900||900||850|
|Cocoa Beverages||Bournvita Refill||500g||950||900||950||900||925||950||900||950||900|
|Cocoa Beverages||Bournvita (Plastic)||500g||1000||1000||1000||1000||1000||1000||1000||1000||1000|
|Cocoa Beverages||Bournvita (Plastic)||900g||2000||2000||2000||2000||2000||2000||2000||2000||2000|
|Cocoa Beverages||Ovaltine Refill||500g||800||800||850||850||825||800||800||800||850|
|Coffee||Nescafe Gold Blend||100g||1800||1850||1800||1800||1812.5||1800||1850||1800||1800|
|Tea||Lipton Yellow label||52g||300||280||300||300||295||300||280||300||300|
|Sugar||St' Loius Sugar(Cube)||500g||400||380||400||450||407.5||400||450|
|Sugar||Golden Penny Sugar (cube)||500g||350||300||350||300||325||350||300||350||300|
|Bottled Water (Refill)||Cway||Refill||600||600||650||600||612.5|
|Juice||5 Alive||1 litre|
|Fish||Kote (Horse Mackerel)||1 kg||450||450||400||400||425||450||400||400|
|Fish||Titus (Mackerel)||1 kg||400||450||400||400||412.5||400||450||450|
Facebook to open Lagos office in 2021
When the social media giant comes to Nigeria, it will be its second office on the African continent.
Social Media giant, Facebook announced it would open an office in Lagos in 2021, its second office in the continent and the first in Africa to house software engineers.
This was announced by Facebook Program Manager, Chimdindu Aneke on social media. “We are opening a Facebook office in Lagos, Nigeria later in 2021,” he said.
We are opening a Facebook office in Lagos, Nigeria later in 2021. 😍😍😍
— Chimdi Aneke (@chimdinduaneke) September 18, 2020
He added that the office would be the first in Africa by Facebook for the purpose of engineering and “building for the future of Africa and beyond”.
Media aide to the Presidency, Tolu Ogunlesi quoted Facebook saying, “As part of its continued commitment and ongoing investment in Africa, Facebook today announced it will be opening an office in Lagos, Nigeria – its second office on the African continent.”
“Lagos, Nigeria, September 18, 2020/ — As part of its continued commitment and ongoing investment in Africa, @Facebook today announced it will be opening an office in Lagos, Nigeria – its second office on the African continent.”#InvestNigeria 🇳🇬🇳🇬🇳🇬
— tolu ogunlesi (@toluogunlesi) September 18, 2020
In 2019, Facebook’s biggest market in Africa was Nigeria with 33 million monthly active users.
Nigeria among countries to be worst hit by food crisis globally
Nigeria, others were listed as countries with the worst deteriorations in acute hunger in recent months.
Nigeria has emerged as one of the countries to be most hit by food crisis across the globe in the face of the coronavirus pandemic which had worsened the already bad situation.
This disclosure is contained in a report by the United Nation’s Food and Agriculture Organization (FAO).
The report from the FAO also shows that the Democratic Republic of Congo is emerging as the country with the world’s largest food crisis in terms of absolute numbers, with Burkina Faso listed as the country with the worst deteriorations in acute hunger in recent months.
The food crisis is made worse in Nigeria by the longstanding religious and ethnic conflicts and even organized crimes by some bandits, which has greatly affected farmers working on their farmlands.
In addition to these, the farmers were already contending with the issue of flooding or drought, which has negatively been impacting on the agricultural sector in a period the country is desperate and very desirous of economic diversification. The coronavirus pandemic has triggered a surge in food prices as can be seen in the reports released by the National Bureau of Statistics (NBS), in a country that imports over 10% of its food supply.
With a population of over 200 million people, Nigeria is the most populous country in Africa, which is regarded as the world’s most food-insecure continent. This is made worse as importers of food items struggle to gain access to dollars for their imports due to scarcity of foreign exchange which is triggered by the crash of oil prices and low foreign inflow.
This is expected to be exacerbated by the recent order by President Muhammadu Buhari to the Central Bank of Nigeria, to stop the allocation of foreign exchange to importers of food items.
The Governor of Niger State, Abubakar Sani Bello, warned in April, “We are heading toward famine and starvation.”
The FAO report which states that Congo has about 21.8 million people that are acutely food insecure, also points out that Burkina Faso has witnessed an almost 300% uptick in the overall number of people experiencing acute hunger since the start of 2020.
US government to ban WeChat and TikTok from app stores
Chinese-owned social media apps are facing a ban in the US over national security concerns.
The United States government says it will ban the services of Chinese tech giants, WeChat and TikTok, from online mobile application stores in the U.S. It also plans to prohibit any funds transfer/payment services through the WeChat mobile application.
This was announced by the U.S Commerce Secretary, Wilbur Ross, in a statement on Friday, following President Donald Trump’s Executive Orders (E.O.) 13942 and E.O. 13943, on the 6th of August.
“In response to President Trump’s Executive Orders signed August 6, 2020, the Department of Commerce (Commerce) today announced prohibitions on transactions relating to mobile applications (apps) WeChat and TikTok to safeguard the national security of the United States,” said Wilbur Ross.
He added that the Chinese Communist Party (CCP), has proven it has the means and the motive to use Chinese tech apps, to threaten America’s national security foreign policy, and the economy of the U.S.
He said the following transactions will be prohibited from September 20th for WeChat and November 12th for TikTok
- Any provision of service to distribute or maintain the WeChat or TikTok mobile applications, constituent code, or application updates, through an online mobile application store in the U.S.
- Any provision of services through the WeChat mobile application, for the purpose of transferring funds or processing payments within the U.S.
Mr. Ross said that with the Executive Order, the US government has taken a ‘significant action’ in fighting China’s malicious personal data breach on American citizens, and also promote democratic rule-based norms, and aggressive enforcement of U.S. laws and regulations.
The U.S government announced that further prohibitive measures, relating to both companies may be announced in the future.
“Should the U.S. Government determine that WeChat’s or TikTok’s illicit behavior is being replicated by another app somehow outside the scope of these executive orders, the President has the authority to consider whether additional orders may be appropriate to address such activities.”
President Trump has given until November 12, to resolve the TikTok security concerns of the US. He added that the prohibitions may be lifted, if they are addressed.