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Household Survey: Palm Oil prices jack up as tomatoes and melon ease off

The latest household survey carried out by Nairametrics Research has shown a sudden spike in the prices of locally made palm oil, while the prices of Melon and Tomatoes are easing off.



House hold survey

The latest household survey carried out by Nairametrics Research has shown a sudden spike in the prices of locally made palm oil. According to data gathered from various markets, a 25-litre gallon of palm oil which was initially sold for an average price of N8,825 is now being sold for N10,750. This means that the price of palm oil prices rose by 22%.

On the other hand, prices of tomatoes and melon have eased off in the past weeks. Specifically, the research team visited four major markets in Lagos State to gather the prices of essential household commodities, and the report shows that some items recorded a significant decline, while others slightly increased.  

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A decline in prices: According to the survey, there was a decline in household items such as Royal Stallion rice (50kg rice), Mama’s Pride local rice, Golden Penny noodles, Baskets of potatoes, Irish potatoes, groundnut oil (25 Litres), Plantain, Milo (Tin 900g), and round-shaped tomatoes. 

  • Tubers of potatoes recorded a significant decrease in price as a big basket of sweet potatoes is now being sold for N4,000, down from the initial N4,500 sold two weeks earlier.  
  • Also, the price of the biggest basket of Irish potatoes dropped from the initial N20,000 to N15,000, indicating a 25% decrease in price.  
  • A bunch of bananas, that was sold for an average price of N500 two weeks ago, is now sold for an average price of N463, though Oyingbo market still sells the commodity for N500; thereby maintaining its initial price. 

The Prices of tomatoes are gradually easing, according to the latest market survey. A big basket of round tomatoes that was initially sold for N12,000 has again dropped by to N11,000, gradually inching towards its initial cost of N8,000 in the first week of May.  

  • A medium basket of round tomatoes is now sold for N6,500 as compared to N7,000 for which it was being sold in the first week of July.  
  • Also, a big basket of oval-shaped tomatoes is being sold for N6,000 while the small basket goes for N1,500. 

The graph below shows the trend of the price of the commodity over the past three months as it looks likely to reduce further in the coming weeks.  

Rise in other items: Apart from palm oil that recorded a big increase, other items which witnessed a slight increment within the past two weeks include, Basmati rice (5kg), Rice Master & Mama Gold rice (50kg), tubers of yam and cassava flakes (yellow garri). These are slight increases in prices.

The Special Market: Mile 12 market witnessed multitudes of customers converging, as onions were sold cheap. As explained by one of the sellers who chose to remain anonymous: 

 “When there is large inflow of the commodity into the market, people tend to come in large numbers as it is most likely to be sold for lesser priceHowever, if the quantity in the market is low, the price tends to increase. 

Data collected shows that a bag of onions was sold for N25,000 during the Ramadan period. However, a bag of onions is now sold for an average of N13,000 in Mile 12 market. 

Special item: The price of Melon (Egusihas fallen drastically in recent weeks. Recall that Nairametrics earlier reported the spike in the prices of melon. Meanwhile, sellers of the item expressed joy and relief as the commodity now sells for an average of N55,000 per bag, as compared to N100,000 for which it was being sold weeks ago. It was revealed that this has improved the sales of the commodity.  

Major sellers were interviewed to ascertain the reason for the sudden rise in the price of local palm oil. However, most sellers of the product could not point to a specific factor; they however, called for the Government to intervene in the smooth transportation of goods in order to prevent further price increase.  

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This is not a good development as stakeholders in palm oil production have, in recent months, lamented the illegal importation of palm oil into the country. This may be partly responsible for the hike being witnessed. 


About Nairametrics Food Price Survey: The Nairametrics’ Food Price Watch is a bi-weekly household market survey that 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. 

ItemsBrandUnitMUSHIN (18/7/2019)DALEKO (18/7/2019)OYINGBO (18/7/2019)MILE 12 (18/7/2019)Average MUSHIN (04/7/2019)DALEKO (04/7/2019)OYINGBO (04/7/2019)MILE 12 (04/7/2019)Average
Bag of RiceBasmati5kg5500500055005500537555005000550050005250
Bag of RiceMama Gold10kg3400280035003200322534002800350032003225
Bag of RiceRoyal Stallion50Kg150001400015000150001475014000150001550014833.333333333
Bag of RiceRice Master10kg2800300030002933.3333333333280030002900
Bag of RiceMama Gold50kg150001450015000150001487514000150001550014833.333333333
Bag of RiceCaprice50kg15000145001500015000148751500014000150001550014875
Bag of RiceMama's Pride50kg15000155001550015333.3333333331550015500160001550015625
Bag of RiceFalcon25kg6800650068006800672568006500680068006725
Bag of BeansOloyin50kg16000135001600015000151251600013500160001500015125
Bag of BeansWhite50kg26000250002500025333.3333333331400013500150001500014375
Bag of BeansBrown50kg14000120001450014000136251400012000145001400013625
Tuber of YamAbuja1 Big Size Tuber160014001500110012008001033.3333333333
Tuber of YamAbuja1 Medium Size Tuber900850900800862.5800850550733.33333333333
Carton of NoodlesIndomie305g (Belle full)2900290029002900290029002900290029002900
Carton of NoodlesIndomie200g (Hungry man)3200320032003200320032003200320032003200
Carton of NoodlesChikki100g2000220021002100210020002200210021002100
Carton of NoodlesMinimie70g1500150015001500150015001500150015001500
Carton of NoodlesGolden Penny70g1400140014001400140014001400140014501412.5
Bag of GarriIjebu80kg7500700072007000717575007000720070007175
Bag of GarriWhite50kg5000450050005000487550004500500050004875
Bag of GarriYellow50kg6000600060006000600060005500600060005875
Basket of PotatoSweetBig Basket4000400045004500
Basket of PotatoSweetSmall Basket600600700700
Basket of PotatosweetSmallest Basket200200200200
Basket of PotatoIrishBiggest Basket15000150002000020000
Basket of PotatoIrishMedium Basket2000200025002500
Basket of PotatoIrishSmall Basket1300130015001500
Packet of PastaGolden Penny500g3300340034003400337533003400340034003375
Packet of PastaDangote500g3500350034003400345035003400350034003450
Packet of PastaPower500g180200180200190180200180200190
Packet of PastaBonita500g200200200200200200200200200200
Gallon of Palm OilLocal5 Litres2000200020002000200018001500180015001650
Gallon of Palm OilLocal25 Litres110001050011000105001075090008800900085008825
Gallon of Vegetable OilLocal5 Litres2000200020001800195020002000200018001950
Gallon of Vegetable OilLocal25 Litres100009500100009500975010000100001000095009875
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 Bunch450450500450462.5500450500550500
Bag of FlourDangote50kg10800105001100011000108251080010500110001100010825
Bag of FlourHoney well50Kg11500110001100011166.66666666711500110001100011166.666666667
Bag of FlourMama Gold50kg11500113001100011000112001150011300110001100011200
Bag of SugarDangote50kg3500320034003200332535003200340032003325
MilkPeak Powdered (Tin)400g12501200120012001212.512501200120012001212.5
Milkpeak Powdered(Tin)900g2400240024002300237524002400240023002375
MilkPeak milk (Refill)500g10501000100010001012.510501000100010001012.5
MilkDano Powdered (Tin)500g10001000100010001000100095010001000987.5
MilkDano Powdered(Tin)900g2000200020002000200020002000200019001975
MilkDano (Refill)500g850800800800812.5800800800800
MilkThreeCrown (Refill)380g720700750700717.5700700700
MilkLoya Powdered (Tin)400g10001000100010501012.510001000105010001012.5
MilkLoya (Refill)400g850800850800825850800800816.66666666667
MilkCoast (Refill)500g750750750750750750750750750750
Cocoa BeveragesMilo (Tin)500g1000110011001000105010001100110010001050
Cocoa BeveragesMilo (Tin)900g2000210021002066.6666666667210021002100
Cocoa BeveragesMilo Refill500g900900900900900900900900850887.5
Cocoa BeveragesBournvita Refill500g950900950900925950900950900925
Cocoa BeveragesBournvita (Plastic)900g2000200020002000200020002000200020002000
Cocoa BeveragesOvaltine Refill500g800800850850825800800850850825
Cocoa BeveragesOvaltine(Plastic)500g1100110010001100107511001100100011001075
CoffeeNescafe Classic50g650600600616.66666666667650600600600612.5
TeaLipton Yellow label52g310290300300300300280300300295
TeaTop tea52g300300300300300300300300300300
SugarSt' Loius Sugar(Cube) 500g400380400450407.5400380400450407.5
SugarGolden Penny Sugar (cube)500g350300350300325350300350300325
BreadVal-U1 loaf300300300300300300300300300300
BreadButterfield1 loaf300300300300300300300300300300
Bottled Water (Refill)CwayRefill600600650600612.5600600650600612.5
Juice5 Alive1 litre600550550600575
JuiceChivita1 litre600550600600587.5600550600600587.5
TomatoesBig Basketround shaped11000110001200012000
Medium Basketround shaped6500650070007000
Small Basketround shaped3500350040004000
Big BasketOval Shaped60006000
Small BasketOval Shaped15001500
FishKote (Horse Mackerel)1 kg500450450400450450450400400425
FishTitus (Mackerel)1 kg450500450450462.5400450400400412.5

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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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Arvind Pathak, Deputy GMD of Dangote Cement resigns

The Deputy Group Managing Director of Dangote Cement has resigned his role on the Board of the company.



Arvind Pathak, Deputy GMD of Dangote Cement resigns

Dangote Cement Plc has announced the resignation of its Deputy Group Managing Director, Arvind Pathak.

In line with the disclosure issued by the company, the Board of Directors of Dangote Cement after accepting Pathak’s request disclosed that his resignation will take effect from the 25th of February 2021.

The Board of Dangote Cement appreciates him for his commitment and contributions to the Board, and also wishes him well in his future endeavours.

What you should know

  • Pathak was appointed to the Board of Dangote Cement Plc on October 29, 2019, as Deputy Group Managing Director.
  • Prior to his appointment as Deputy GMD, he was the Chief Operating Officer of Dangote Cement, a position he held between 2018 and 2019.
  • Prior to joining DCP, he has worked in various leadership roles in the cement industry, he has 30 years of experience in the cement industry.

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Africa Prudential announces appointment of Zubaida Rasheed as Director

Zubaida Rasheed has been appointed as an Independent Non-Executive Director by Africa Prudential Plc.



African Prudential could be worth more than N4.55

The Board of Africa Prudential Plc has ratified the appointment of Mrs. Zubaida Mahey Rasheed as an Independent Non-Executive Director, effective February 24, 2021, subject to regulatory approval from the Securities and Exchange Commission.

This is according to a notification signed by the Company’s secretary, Joseph Jibunoh, and made available to the Nigerian Stock Exchange.

Given her profile and wealth of experience, the Board strongly believes that the appointment will strengthen the company by consolidating its digital transformation drive and ensuring its smooth transition from its core registrar business to providing digital solutions and technological services.

About Zubaida Mahey Rasheed 

Mrs. Zubaida is a distinguished technocrat with over forty years’ experience in the public and private sectors. A sizeable number of the aforementioned years were spent in NITEL Plc, where she served for 23 years, rising to the position of Executive Director.

Mrs. Zubaida is currently the Deputy Coordinator of Technical Working Group (TWG) for the preparation of Medium-Term National Development Plan (MTNDP) 2021-2025 & Nigeria Agenda 2050 (Business Environment, Trade, Competitiveness, and Product Space Mapping).

She is an alumna of Ahmadu Bello University (ABU), having obtained a BSC degree in Economics in the aforementioned institution. She holds professional membership in the Nigerian Institute of Management and National Institute of Marketing, Nigeria.

What you should know

  • Africa Prudential Plc had earlier declared a dividend of 50 kobo each, totaling N1 billion for its shareholders.
  • Africa Prudential Plc formerly known as UBA Registrars Ltd was incorporated as a private limited liability company on 23rd March 2006 to take over the registrar services formally operated as a department by its former parent – UBA Global Market Limited.
  • The company was listed on the Nigerian Stock Exchange on the 17th of January, 2013. It currently manages over 80 corporate clients in both the public and private sectors.

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