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Prices of frozen Fish, Yam, Pepper, others jump as traders lament low sales in major markets

The prices of major household food items witnessed significant increase within the last two weeks, resulting in low patronage for many traders in various markets.

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Quality of local rice improves as food prices drop across major markets Prices of major household items on the high as weather condition limits harvest, Onions, Pepper, Yam, others increase across various Lagos markets as dealers lament low sales, Traders bag imported rice in local bags, as prices of onions, Ppepper, others drop

Nigerians may not be having it easy in the past weeks as prices of major household items continue spike while sellers across major markets in Lagos State also lament low sales. The latest Household market survey conducted by Nairametrics Research Team reveals.

According to the latest survey conducted by the Research Team, household items such as Frozen Fish, Onions, Yam, Pepper and Melon recorded significant increase in price over the past two weeks. Specifically, a slate of frozen fish now sells for as high as N22,000, while the price of a big bag of New Onions jumped from an average of N17,500 to a current average of N25,000

Nigerians spent N334.3 billion to import foodstuffs, tobacco, others in 6-months 

Also, a big tuber of Abuja Yam currently sells for an average of N875, 2.94% increase compared to N850 recorded in the later part of February while a smaller tuber sells for an average of N638. Meanwhile, items such as tomatoes and palm oil recorded drop in prices over the past two weeks.

This report highlights items that witnessed increase in price, items that witnessed reduction in price, items that maintained initial prices, Special markets and Market insights.

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READ MORE: Prices of tomatoes, garri, potatoes, others jump as low inventory hits major markets

Items that witnessed price increase

Some of the items that recorded uptick in prices in the last two weeks include onions, pepper, fish, bread, and melon seeds.

  • A big bag of new onions currently sells for an average of N25,000 from an initial N17,500, while dry onions are now available in the market but increased to an average of N30,000.
  • The price of a bag of melon seeds increased to an average price of N49,000 from an initial average of N48,000, indicating a 2.08% increase.
  • A big bag of pepper currently sells for an average of N7,500. This is a 7.14% increment compared to N7,000 recorded two weeks ago.
  • A loaf of Val-U bread is currently sold for an average of N360, from an earlier average of N350.
  • The price of fish also recorded slight increase compared with what was witnessed in February, as one big Kote fish currently sells for an average of N525, indicating a 9.4% increase from an initial price of N480.
  • One big Titus fish also increased by 5.1% to sell for an average of N513 from an initial average of N488.
  • A big bag of white maize increased to N16,000 from an initial average of N15,500 recorded two weeks ago.
  • A 500g size of Bournvita (refill) that was previously sold for an average of N925 is now sold for an average of N950.

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Items that witnessed price decrease

  • A 25-litre gallon of palm oil sells for an average of N9,375. 3.85% decrease compared to N9,750 recorded two weeks ago.
  • Also, a 5-litre gallon of palm oil reduced by 22.4% to sell at an average of N1,650.
  • A big basket of round shaped tomatoes sells for an average of N7,500 this week, compared to N8,000 recorded two weeks ago. This represents a 6.5% reduction in price.
  • A medium sized basket of round shaped tomatoes currently sells for an average of N3,500, a 12.5% reduction compared to N4,000 recorded the last time.

Items that maintained initial prices

Household items that maintained their initial prices include locally and foreign-made rice, beans, garri, and potatoes.

  • Royal Stallion rice still sells for an average of N27,000 while Caprice costs an average of N25,750.
  • Mama Gold and Mama’s Pride continue to sell for an average of N19,250.
  • A bag of brown beans (Oloyin) still sells for an average of N12,500, as white beans maintains its initial price of N18,250.
  • Dangote Flour and Honeywell Flour continue to sell for an average of N11,100 and N11,200 respectively, same as recorded two weeks ago.
  • A crate of eggs sells for average of N975; the price of Cway Bottled water also remained at an average of N613.
  • Household cooking gas is still being refilled for the same price as recorded two weeks ago: 12.5kg (N4,000) and 5kg (1,725).

READ MORE: Alert: Tomato prices are up by over 80% in these Lagos markets

Special Markets

  • The price of frozen fish continues to increase, as dealers across the various markets lament low sales. A “bazo” slate of fish is currently sold for an average of N19,000, while “Fuel” costs an average of N22,000.
  • The low of turn out of sales is feared by many traders to be due to the Coronavirus case in Lagos announced in the end of February, although it remains to be seen if one has anything to do with the other.
  • The price of imported frozen items such as chicken and turkey still maintain their initial prices as reported earlier in the year.
  • Turkey – N13,500
  • Orobo Chicken – N12,000
  • Full Chicken – N12,000
  • Chicken Lap – N12,000

Local rice floods major markets in Nigeria, as frozen food sellers lament low patronage

READ ALSO: Quality of local rice improves as food prices drop across major markets

Market Insights

  • Dry onions, which were not sold in the various markets in the later part of February due to weather conditions and supply, were sighted at Mile 12 market but with a significant 36.36% increase in price as a large bag currently sells for an average of N30,000.
  • New onions also increased from an initial average of N17,500 to N25,000, thereby indicating a 42.9% increase in two weeks. In an interview, one of the sellers who wished to remain anonymous told Nairametrics Research that, “though there is large supply of the commodity in the market, the price of onions just increased significantly for reasons not known to us”. He went further to express hope that the commodity would reduce in time because the price is scaring off potential buyers from the market.
  • Despite the reduction recorded in the price of round shaped tomatoes, traders of the commodity lament that the price is still on the high side, as they could sell for as low as N4,000 and N5,000. Meanwhile, the big basket sells for an average of N8,500 in the early hours of the day, and N7,500 by noon.
ItemsBrandUnitMUSHIN (05/03/2020)DALEKO (05/03/2020)OYINGBO (05/03/2020)MILE 12 (05/03/2020)Average MUSHIN (20/02/2020)DALEKO (20/02/2020)OYINGBO (20/02/2020)MILE 12 (20/02/2020)Average
Bag of RiceBasmati5kgNANANANANANANANANANA
Bag of RiceMama Gold10kgNA3500NANA3500NA3500NANA3500
Bag of RiceRoyal Stallion50Kg27000NA27000NA2700027000NA27000NA27000
Bag of RiceRice Master10kgNA3500NA35003500NA3500NA35003500
Bag of RiceMama Gold50kg19000190001950019500192501900019000195001950019250
Bag of RiceCaprice50kg26500NANA250002575026500NANA2500025750
Bag of RiceMama's Pride50kg19000190001950019500192501900019000195001950019250
Bag of RiceFalcon25kgNANANANANANANANANANA
Bag of BeansOloyin50kg13000120001300012000125001300012000130001200012500
Bag of BeansWhite50kg19000180001850017500182501900018000185001750018250
Bag of BeansBrown>50kg21000180002100018000195002100018000210001800019500
Tuber of YamAbuja1 Big Size Tuber900850900850875900800850850850
Tuber of YamAbuja1 Medium Size Tuber650650600650637.5650650600600625
Carton of NoodlesIndomie305g (Belle full)2900290029002900290029002900290029002900
Carton of NoodlesIndomie200g (Hungry man)3200320032003200320032003200320032003200
Carton of NoodlesChikki100g2000220021002100210020002200210021002100
Carton of NoodlesMinimie70g1500150015001500150015001500150015001500
Carton of NoodlesGolden Penny70g1400140014001400140014001400140014001400
Bag of GarriIjebu80kg6000680070007000670060006800700070006700
Bag of GarriWhite50kg6000650065007000650060006500650070006500
Bag of GarriYellow50kg7500750075008000762575007500750080007625
Basket of PotatoSweetBig Basket6000600060006000
Basket of PotatoSweetSmall Basket1000100010001000
Basket of PotatosweetSmallest Basket200200200200
Basket of PotatoIrishBiggest Basket17000170001700017000
Basket of PotatoIrishMedium Basket1800180018001800
Basket of PotatoIrishSmall Basket1300130013001300
Packet of PastaGolden Penny500g4300440043004200430043004400430042004300
Packet of PastaDangote500g4000400040004100402540004000400041004025
Packet of PastaPower (1 pc)500g220220220200215220220220200215
Packet of PastaBonita (1 pc)500g220200200210207.5220200200210207.5
Gallon of Palm OilLocal5 Litres1800150018001500165022002000230020002125
Gallon of Palm OilLocal25 Litres1000090009500900093751050090001000095009750
Gallon of Vegetable OilLocal5 Litres2300220023002200225023002300240023002325
Gallon of Vegetable OilLocal25 Litres13000128001310012800129251300013000135001280013075
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 Bunch400400350400387.5400400350400387.5
Bag of FlourDangote50kg11200112001100011000111001120011200110001100011100
Bag of FlourHoney well50Kg11200112001120011200112001120011200112001120011200
Bag of FlourMama Gold50kg11000113001100011000110751100011300110001100011075
Bag of SugarDangote50kg3500320034003200332535003200340032003325
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
MilkThreeCrown (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 Refill500g9501000950900950950900950900925
Cocoa BeveragesBournvita (Plastic)900g2000200020002000200020002000200020002000
Cocoa BeveragesOvaltine Refill500g800800850850825800800850850825
Cocoa BeveragesOvaltine(Plastic)500g1100110010001100107511001100100011001075
CoffeeNescafe Classic50g600600600600600600600600600600
TeaLipton Yellow label52g310290300300300310290300300300
TeaTop tea52g300300300300300300300300300300
SugarSt' Loius Sugar(Cube) 500g400380400450407.5400380400450407.5
SugarGolden Penny Sugar (cube)500g350300350300325350300350300325
BreadVal-U1 loaf370350350370360350350350350350
BreadButterfield1 loaf350350350350350350350350350350
EggN/ACrate9501000950100097595010009501000975
Bottled Water (Refill)CwayRefill600600650600612.5600600650600612.5
Juice5 Alive1 litre600550550600575600550550600575
JuiceChivita1 litre600550600550575600550600550575
GasRefilling12.5kg4000400040004000400040004000400040004000
GasRefilling5kg1700170018001700172517001700180017001725
TomatoesBig Basketround shaped7500750080008000
Medium Basketround shaped3500350040004000
Small Basketround shaped2000250025002500
Big BasketOval ShapedNANANANA
Small BasketOval ShapedNANANANA
FishKote (Horse Mackerel)1 big Fish550500500550525500450470500480
FishTitus (Mackerel)1 big Fish500500550500512.5500450500500487.5
PepperBig bag7500750070007000
Medium bag5500550048005000
MaizeYellow170001800017500170002100019000
White160001600016000150001600015500
MelonBig bag49000490004800048000
OnionsBig bagDry Onions3000030000NANA
OnionsBig bagNew Onions25000250001750017500

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

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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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Coronavirus

COVID-19 Update in Nigeria

On the 24th of November 2020, 168 new confirmed cases and 1 death was recorded in Nigeria

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The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 66,607 confirmed cases.

On the 24th of November 2020, 168 new confirmed cases and 1 death was recorded in Nigeria, having carried out a total daily test of 5,838 samples across the country.

To date, 66,607 cases have been confirmed, 62,311 cases have been discharged and 1,169 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 749,136 tests have been carried out as of November 24th, 2020 compared to 743,298 tests a day earlier.

COVID-19 Case Updates- 24th November 2020,

  • Total Number of Cases – 66,607
  • Total Number Discharged – 62,311
  • Total Deaths – 1,169
  • Total Tests Carried out – 749,136

According to the NCDC, the 168 new cases were reported from 10 states- FCT (61), Lagos (50), Kaduna (27), Oyo (12), Rivers (6), Katsina (5), Ogun (3), Kwara (2), Edo (1), Kano (1).

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 23,018, followed by Abuja (6,576), Plateau (3,805), Oyo (3,715), Rivers (2,963), Kaduna (2,940), Edo (2,695), Ogun (2,156), Delta (1,823), Kano (1,777), Ondo (1,727), Enugu (1,332),  Kwara (1,095), Ebonyi (1,055), Katsina (1,012), Osun (945), Gombe (938). Abia (926), Bauchi (753), and Borno (745).

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Imo State has recorded 662  cases, Benue (493), Nasarawa (485), Bayelsa (445),  Ekiti (354), Jigawa (328), Akwa Ibom (319), Niger (296), Anambra (285), Adamawa (261), Sokoto (165), Taraba (157), Yobe (94), Kebbi (93), Cross River (90), Zamfara (79), while Kogi state has recorded 5 cases only.

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

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The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.

On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.

READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

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Hospitality & Travel

US imposes $15,000 visa bond on 15 African countries, others

The US has issued a visa rule requiring tourist and business travelers in some countries to pay a bond of up to $15,000 in addition to the visa fees.

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US imposes $15,000 visa bond on 15 African countries, others, Berger Paints' improved margins ride on the back of cost efficiency

The outgoing administration of US President, Donald Trump, on Monday, November 23, 2020, issued a new temporary visa rule that requires tourist and business travelers from 15 African countries and others to pay a bond of up to $15,000 in addition to the visa fees, which ranges from $16 to $300, in order to visit the United States.

According to TheCable, the US State Department said the visa bond pilot programme, expected to take effect from December 24 and end on June 24, 2021, is targeted at countries whose citizens have higher rates of overstaying B-2 visas for tourists and B-1 visas for business travelers.

READ: Update: No one will take our democracy away, not now, not ever- Biden

The Trump administration said the six-month pilot program aims to test the feasibility of collecting such bonds and will serve as a diplomatic deterrence to overstaying the visas. Hence, overstay places significant pressure on Department of Justice and Department of Homeland Security.

The visa bond rule will permit U.S. consular officers to request tourist and business travelers from countries whose nationals had an overstay rate of 10% and above in 2019 to pay a refundable bond of $5,000, $10,000, or $15,000.

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READ: COVID-19: IMF Chief predicts $345 billion financing gap in African countries 

The countries whose tourist and business travelers fall into this category and subjected to the bond requirements are 24 countries, including 15 African countries. While these nations had higher rates of overstays, they sent relatively fewer travelers to the United States.

The countries include Afghanistan, Angola, Bhutan, Burkina Faso, Burma, Burundi, Cape Verde, Chad, the Democratic Republic of the Congo (Kinshasa), Djibouti, Eritrea, the Gambia, Guinea-Bissau, Iran, Laos, Liberia, Libya, Mauritania, Papua New Guinea, Sao Tome and Principe, Sudan, Syria, and Yemen

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READ: Falling Oil prices: Nigeria’s Halloween reality

Nigerian travelers escaped paying the temporary visa rule, as their overall score was below the threshold of 10% and above overstaying rate.

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Economy & Politics

Senate approves issuance of N148bn promissory notes to Bayelsa, 4 others

Promissory notes worth N148,141,969,161.24 has been approved by the Senate as refund to Bayelsa, Cross River, Ondo, Osun and Rivers States

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Senate approves issuance of promissory notes worth N148 billion as a refund to five states

Promissory notes worth N148.141billion have been approved by the Senate as a refund to Bayelsa, Cross River, Ondo, Osun, and Rivers States for projects executed on behalf of the Federal Government.

The approval which was given by the Senate at the plenary on Tuesday, 24th November 2020, came after the presentation of a report by the Committee on Local and Foreign Debts, led by Senator Ordia Clifford (PDP-Edo).

READ: Banks to lose interest on petrol subsidy-induced loans

According to a news report by NAN, this is a go-ahead to the Federal Government, who had sought the approval of the Senate for issuance of promissory notes for a refund on federal projects executed by State governments.

The request was contained in a letter addressed to President of Senate, Dr. Ahmad Lawan by President Muhammadu Buhari, and read at plenary. The Senate referred the matter to the Committee on Local and Foreign Debts for further legislative input.

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(READ MORE: FG inaugurates steering committee on Covid-19 economic recovery)

Senator Ordia Clifford, while presenting the report of the committee, said the Permanent Secretary, Federal Ministry of Finance; Federal Commissioners of Finance and Works in the five states, had briefed the committee on details of the projects.

He said the Committee was presented with documents relating to the approvals of the Federal Government through the Federal Ministry of Works and Housing for the execution of the projects and certificates of completion, amongst other documents.

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READ: Boosting IGR; A necessity for states to avoid total dependence on FAAC allocations

At the plenary today, Senator Ordia moved the motion that the Senate approves the Committee’s recommendations by approving the issuance of the promissory notes to the State governments.

According to him, the amount due to the five states is N148.14billion.

  • Bayelsa was allotted N38.40billion
  • Cross River was allotted N18.39billion
  • Ondo was allotted N7.82billion
  • Osun was allotted N4.57billion
  • Rivers was allotted N78.95billion

What they are saying

The President of the Senate, Ahmad Lawan, disclosed that records showed PDP states had the highest refund, he said: “If you look at the list of states, only two are APC states and they have the least in terms of refund, this is fantastic and a mark of leadership by the Federal Government. This shows tolerance and leadership by this administration.”

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