Research Analysis
Exclusive: Best bank in Nigeria judging by the numbers
These banks are all too big to fail but one stands tallest as the best.

Published
8 months agoon

The Nigerian Banking sector is one of the most competitive sectors in the economy and perhaps the most profitable. Despite having about 23 deposit money banks in the country, only a dozen are listed on the Nigerian Stock Exchange (NSE).
Banking sector performance is something we track regularly at Nairametrics using several well-known metrics. Most of the data can be found in the financial statements of the banks within our repository of reports. While we track all banks, the following banks are included in our universe of measuring financial performance. They are Access Bank, GT Bank, Fidelity Bank, FCMB, Sterling Bank, FBNH, Union Bank, Zenith Bank, UBA, Stanbic IBTC and Wema Bank.
In this report, we take a cursory look at the performance of listed banks in Nigeria based on the six (6) metrics, these include Total Assets, Net Assets, Total Deposits, Profit After Tax, Return on Average Equity and Return on Total Assets.
READ ALSO: NSE loses N2 trillion in value in Q1 2020, as oil plunges 65% QoQ
Best Banks by Total Assets.
In this case, banking assets include equity plus bank deposits. According to the data, 11 of the listed banks reported a combined total asset of N42.4 trillion as at the first quarter of 2020.
This represents a 10.3% rise from total assets of N38.4 trillion as at December. Growth in Total Assets is indicative of how strong our financial institutions are particularly banks.
The size of their total assets also indicates how much support they can give to the Nigerian Economy. At N42 trillion bank total assets represent roughly 29% of Nigeria’s GDP of N145 trillion. That is roughly one-third of our GDP. When you compare to South Africa at 77% and the US at about 62.4% you realize there is room for growth.
So who are the leaders?
First Position – Access Bank N7.28 trillion
Second Position– Zenith Bank – N7.12 trillion
Third Position – FBNH N7.02 trillion
Fourth Position – UBA N6.3 trillion
Upshots – Access Bank has maintained the number one position since 2019 after overtaking Zenith Bank following its merger with Diamond bank However, Zenith bank’s asset jumped 12.3% in the first quarter of 2020 to N7.1 trillion compared to Access Bank’s 1.8% rise.
We won’t be surprised if Zenith Bank takes this position again come August when we update this ranking. Also interesting to note that the 4 banks make up more than half the entire total assets. Suffice to say these are indeed “too big to fail” banks.
READ MORE: Analysis: Seplat’s transfer of OMLs has us wary
Net Assets
Banks’ net assets represent the total equity or shareholders’ funds of all the banks on our list. It includes the bank’s share capital, reserves, and its retained earnings in a period. The net asset is a very strong metric for measuring how strong banks are and it is also used by the CBN in assessing banking sector ability to withstand credit losses.
We observed that at the end of Q1 2020, bank net assets rose from N4.64 trillion at the end of 2019 to N4.7 trillion. This presents a 1.4% rise over the three months period. However, this also represents a 20.5% jump from N3.9 trillion posted in 2018. Banks’ net assets are also circa 10% of their total assets.
The top 4 by Net Assets
First Position – Zenith Bank, N925.9 billion
Second Position – FBNH, N680.3 billion
Third Position – GT Bank, N661 billion
Fourth Position – Access Bank, N635.5 billion
Upshots: We noticed a remarkable rise from FBNH and Stanbic IBTC two bank holding companies. After falling 21.8% to N530.6 billion in 2018, FBNH clawed back 21% to N642.6 billion in 2019 and posted N680.3 billion as at March 2020. Also, Stanbic IBTC increased its net assets by 26.1% in 2019 to 302.2 billion respectively.
The bank now has a net asset of N320.7 billion. Zenith Bank at N925.9 billion is down from the N941.8 billion reported at the end of 2019. This may be due to dividend payments.
It should be noted that most banks recorded a drop in their total net assets in the first quarter, it may largely be due to dividend payments. However, we expect Zenith Bank to crack the N1 trillion mark in net assets by the end of the year.
Total Deposits
Customer deposits are perhaps one of the most competitive banks’ performance metrics to track. The more deposits a bank has the more money it can make. In a country where a lot of cash remains outside the banking system, how well a bank can mobilize deposits from its customers shows how well it can compete in a very aggressive market.
Analysis of the data collected showed that total banks’ deposits rose from N19.1 trillion in 2017 to N29.1 trillion in the first quarter of 2020. Whilst this is impressive growth, it did not adjust for the defunct Diamond Bank.
Thus, a better comparison would be between the N26.8 trillion in deposits recorded in December 2019 and N29.1 trillion in the first quarter of this year. This implies an 8.8% rise in just three months. Listed banks are on track to cross N30 trillion in customer deposits.
Top banks based on deposits
First Position – Access Bank, N5.6 trillion
Second Position – FBNH. N5.4 trillion
Third Position – UBA, N4.6 trillion
Fourth Position – Zenith Bank, N4.4 trillion
Upshots: UBA’s total deposits rose a whopping 14% to N4.6 trillion in the first quarter of 2020, adding about N467 billion in new deposits in just 3 months. An even more notable jump was from Stanbic IBTC with a 31.6% rise to N1.1 trillion in three months. The bank broke into the N1 trillion club from N886 billion it had at the end of 2019.
The bank has now leapfrogged Sterling Bank and is on the heels of Fidelity Bank and FCMB. Fidelity Bank also impressed with a 10.4% rise in its numbers. FBNH, one of the oldest banks also rose 12.5% and at its rate could outpace the number one on the list, Access Bank.
Profits After Tax
Corporate Profits are often viewed positively or negatively depending on how you view the impact of capitalism. For banks, it can attract scrutiny if it comes at the expense of small businesses or the wider economy. Nigerian banks reported a total profit after tax of N815.5 billion at the end of 2019. This, compared to N754.7 billion reported in 2018 and N630.3 billion in 2017.
Though banks have often been criticized for reporting fat profits at the expense of the wider economy, we are better off having profitable banks than unprofitable ones. The more profitable banks are (consistently) over time, the more robust they are to support economic growth.
READ ALSO: UPDATED: Nigeria received $5.85 billion capital inflows in Q1 2020 –NBS
Banks that declared the most profits.
First Position – Zenith Bank, N208.8 billion.
Second Position – GT Bank, N196.8 billion
Third Position – Access Bank, N97.5 billion.
Fourth Position – UBA – N89 billion
Upshots – Zenith Bank and GT Bank appear to be in a world of their own as they make more than double their closest rival. Both banks are neck and neck again in the first quarter with N50 billion in profits for GTB and N50.5 billion for Zenith Bank.
In terms of the most improved bank based on profitability growth year on year, the winner goes to Wema Bank with a 56.3% rise in profits to N5.2 billion. Union Bank also saw its profits rise by 34.7%. Others with significant profit increases in 2019 were Sterling Bank, FCMB, and UBA with 17.2%, 13.2%, and 13.3% respectively.
Return on Equity
This is another important metric used in assessing how well a bank has performed in terms of returns to shareholders. We consider this the most important in terms of performance and efficiency. You can post the largest profits but just like any regular investment you want to know what that translates to in terms of return on equity capital.
Based on our pool of banks’ data, a return on average asset of 18.1% was achieved in 2019 compared to 17.5% a year earlier. This is higher than the inflation rate for 2019, higher than MPR, and just lower than banks’ lending rate. This figure was 11.39% in the US
How have they performed?
First Position – GT Bank, 31.2%
Second Position – Stanbic IBTC, 27.7%
Third Position – Zenith Bank, 23.8%
Fourth Position – Access Bank, 17.7%.
Upshots – Whilst Stanbic yielded the first place to GTB after catapulting to the top in 2018 with a return on average assets of 35%, it was interestingly the only notable drop from all the banks except Access Bank. Union Bank’s numbers increased from 6.3% to 10.2% one of the most improved performances in 2019. We note FBNH broke the single-digit ceiling to 10.6% as the bank continues with its growth comeback.
Return on Average Assets
This measures how well a bank is sweating its assets to generate profits. It is one thing for a bank to have all the assets in its balance sheet but is it providing returns to all providers of capital? We like this metric at Nairametrics because it tells us how well a bank is able to run efficiently using all the resources at its disposal to generate profits for its shareholders.
In general, banks reported a return on total assets of 2.3% in 2019 compared to 2.4% in 2018. Return on Average Assets for US banks was about 1.3% in 2019 and about 1.1% for South African Banks.
Best Banks based on ROAA
First Position – GT Bank, 5.6%
Second Position – Stanbic IBTC 4.2%
Third Position – Zenith bank, 3.4%
Fourth Position – UBA, 1.7%
Upshots – Just like the impressed with ROAE, GT Bank is again the best bank based on Return on Average Assets at a whopping 5.6%. That just shows how very well run the bank is and that it maintained this return in a struggling economy is even more remarkable. We noticed a drop in return on assets across most of the banks highlighting how difficult the economy has been for banks.
Which is the best bank overall for the first quarter of 2020? Well, we leave that to you our readers to judge.
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
Leave a Reply
Cancel reply
This site uses Akismet to reduce spam. Learn how your comment data is processed.
Research Analysis
Chart of the day: It’s a V Shaped Recovery
A V-Shaped recovery means the Nigeria economy recovered faster than was expected
Published
2 weeks agoon
February 18, 2021
The chart above is V-Shaped!
Nigeria’s Bureau of Statistics revealed on Tuesday that Nigeria reported a real GDP Growth rate of 0.11% for the fourth quarter of 2020, the first time following three consecutive quarters of negative GDP growth rate.
Why this matters
- A V-shaped recovery means the economy got out of a recession faster than expected.
- Several analysts had various predictions on what Nigeria’s economic recovery chart might look like. The predictions were between U, V, L, or W, shaped.
- This was also the headline of the Nairametrics Q3 2020 Economic Outlook Webinar where most of our panelists settled for a U-shaped recovery.
- Most analysts had opined that Nigeria’s GDP Growth rate will contract again in the 4th quarter of 2020 before eeking our growth in the first quarter of 2021.
- However, the latest GDP number indicates a GDP growth rate in the 4th quarter thus a V-shaped recovery.
At 0.11%, this is the slowest GDP Growth rate Nigeria has recorded since the GDP was rebased in 2011. In the second quarter of 2017 when Nigeria also exited a recession, the GDP Growth rate was 0.72% and was considered relatively tepid at the time.
Exclusives
Prices of local rice, onions, tomatoes, others crash as foreign rice continues to ease off
This report contains information on items that witnessed price increase, price decrease, as well as information on special markets and insights.

Published
2 months agoon
January 15, 2021
It appears Nigerians are in for good times in the new year, as the price of bags of local and foreign rice, onions, pepper, tomatoes, amongst others recorded a significant drop in price.
This is according to the latest market survey, carried out by Nairalytics Research – the research arm of Nairametrics.
The survey revealed that the price of a 50kg bag of locally produced rice dipped by 6.4% from an average of N25,375 recorded in December to an average of N23,750 while a bag of foreign rice of the same size now sells for an average of N24,500 as against an initial average of N26,125.
READ: Quality of local rice improves as food prices drop across major markets
Also, the price of a bag of dry onions dropped by 77.5% to sell for an average of N21,500 compared to an initial average of N95,500 while the price of new onions crashed by 74.6% to sell for an average of 16,500.
This report contains information on items that witnessed price increase, price decrease, as well as information on special markets and insights.
READ: Inflation rate jumps to 12.13%, highest in 21 months
Items that witnessed price increase
- A big bag of melon that was sold for an average of N43,500 in December now sells for an average of N45,000. This represents an increase of 3.45% in three weeks.
- A nylon of crayfish now sells for an average of N14,250, representing an increase of 9.6% compared to an initial average of N13,000.
- The price of a big tuber of yam spiked by 31.2% to sell for an average of N1,000 as against an initial average of N763.
- Also, a medium-sized tuber of yam now sells for an average of N588, indicating an increase of 11.9% compared to an initial average of N525.
- A big basket of sweet potatoes that was sold for an initial average of N5,500, witnessed an increase of 9.1% to sell for an average of N6,000.
- The price of a small-sized basket increased by 3.6% to sell for an average of N727 from an initial average of N700.
- Also, a big basket of Irish potatoes now sells for an average of 25,000 as against an initial average of N20,000. This represents an increase of 25% in three weeks.
READ: FG warns local rice dealers to desist from price hike
Items that witnessed price decrease
- A big basket of round shaped tomatoes that was sold for an average of N15,000 in December, now sells for an average of N6,500. This represents a price decrease of 56.7% in three weeks.
- Also, the price of a medium-sized basket of round shaped tomatoes reduced by 64.7% to sell for an average of N3,000 as against an initial average of N8,500.
- A big bag of pepper now sells for an average of N7,750. This is 61.3% lower than an average of N20,000 recorded in December while a medium-sized bag currently sells for an average of N3,750 as opposed to an initial average of N10,000.
- A 50kg bag of brown beans currently sells for an average of N30,000, representing a 27.7% decline in price compared to an initial average of N41,500.
- The price of a 10kg bag of Mama Gold rice dipped by 8.3% to sell for an average of N4,400 compared to an initial average of N4,800.
- Also, a 50kg bag of Royal Stallion rice that was initially sold for an average of N26,125 now sells for an average of N24,500 while Mama Gold rice of the same size sells for an average of N24,875 as against an initial average of 26,125.
- The price of a carton of full chicken recorded a marginal decrease of 0.29% to sell for an average of N14,125 compared to an initial average of N14,167.
- A big bag of Bush mango seeds (Ogbono) that was sold for an average of N115,000 during Christmas festivity, now sells for an average of N105,000. This represents a price decrease of 8.7%.
READ: Why onion has become the “new gold” in Nigeria
Items that maintained initial prices
- A crate of eggs continues to sell for an average of N1,200, the same as recorded in December.
- A big bag of yellow maize is still sold for an average of N20,167, while a bag of white maize costs an average of N20,000.
- A bag of yellow maize sells for an average of N23,333, the same as recorded in December, while white maize of the same size still sells for an average of N23,167.
- A 50kg bag of Honey well and Mama Gold flour sells for N13,950 and N13,850 respectively, while a bag of Dangote flour sells for an average of N13,750.
- Horse fish (Kote) and Titus fish still sell for an average of N613 and 638 respectively across markets in Lagos.
- A 50kg bag of garri (Ijebu) still sells for an average of N14,375, while white and yellow garri sell for an average of N10,750 and N11,125 respectively.
- Amongst the list of food items that maintained their initial prices include: noodles, beverages, cocoa drinks, sugar, water, and juice.
- A 12.5kg cylinder of cooking gas is filled for an average of N3,975, while a 5kg cylinder is filled for an average of N1,750.
READ: Betting on Bitcoin is better than investing in PayPal, Google, Facebook, Amazon
Special markets/items
- Several customers were sighted at Mile-12 market negotiating and transacting with traders at different units of the market as the prices of most food items recorded a significant decline in price compared to the just-concluded year.
- In an interview with a tomato seller at Mushin market, Mr. Bala, explained that the decline in the price of tomatoes is due to seasonal fluctuations and increased supply of the food item.
- He stated that there has been a huge amount of harvest during this period, which has caused an increased supply of tomatoes coming from the north, and as a result driving the price of the commodity downwards. He however mentioned that oval-shaped tomatoes are not currently in the market, only round-shaped tomatoes were harvested and supplied to the market.
- The price of foreign rice has continued to witness a significant decrease in the past four weeks, largely due to the reopening of some land borders across the country. Also, the price of locally produced rice trickled down last week due to the new influx of foreign rice.
- According to our correspondent at Daleko market, Mrs. Oladayo, she explained that foreign-made rice is of two types for each of the brands, long and short. A 50kg of the long grain of rice sells for an average of N24,000 in the market, while the bag of short grains sells for an average of N24,000.
- Although, a 50kg bag of Big Bull rice sells for an of N24,000 some Nigerian made rice are now selling for as low as N18,000 and N17,000. She however warned that some of these brands are quite stony. For example, Zainab rice sells for an average of N17,000 at Daleko market.
READ: No giving up, Bitcoin gains $5,000
Market insights
- In an interactive session with an Onion seller at Mile-12 market, it was revealed that the reason for the significant nosedive in the price of onions was due to bountiful harvest towards the end of December.
- According to Muhammed, he said this is a period for onion harvest and it is only normal for the price to decline, although it seemed like a significant decline due to the irregular hike witnessed in the price of onions last year as a result of some string of events, such as insecurity, lack of harvest, etc.
- He further mentioned that the reduction in the price of onions is a very positive development for the year, considering the hardship experienced by many Nigerians during the past year.
- “We are happy that the price of onions and other food items have dropped in recent times and we hope it continues this way, because the lesser the price, the more customers are likely to buy,” He added.
- In a bid to understand the cause of the increase in the price of potatoes, Mr. Audu explained to Nairalytics that the price of potatoes increased due to the effect of seasonal fluctuations.
Items | Brand | Unit | MUSHIN (7/1/2021) | DALEKO (7/1/2021) | OYINGBO (7/1/2021) | MILE 12 (7/1/2021) | Average | MUSHIN (17/12/2020) | DALEKO (17/12/2020) | OYINGBO (17/12/2020) | MILE 12 (17/12/2020) | Average | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Bag of Rice | Mama Gold | 10kg | 4400 | 4200 | 4500 | 4500 | 4400 | 4600 | 4800 | 4800 | 5000 | 4800 | |
Bag of Rice | Royal Stallion | 50Kg | 25000 | 24000 | 25000 | 24000 | 24500 | 26000 | 25500 | 26000 | 27000 | 26125 | |
Bag of Rice | Rice Master | 10kg | NA | 4300 | 4300 | 5000 | NA | 4500 | 4750 | ||||
Bag of Rice | Mama Gold | 50kg | 25000 | 24000 | 24500 | 26000 | 24875 | 26000 | 25500 | 26000 | 27000 | 26125 | |
Bag of Rice | Caprice | 50kg | 25000 | 22000 | 24000 | 25000 | 24000 | 26000 | 25500 | 26000 | 27000 | 26125 | |
Bag of Rice | Mama's Pride | 50kg | 23000 | 24000 | 24000 | 24000 | 23750 | 25500 | 25000 | 25000 | 26000 | 25375 | |
Bag of Beans | Oloyin | 50kg | 20000 | 21000 | 20000 | 20333.333333333 | 20000 | 21000 | 21000 | 20000 | 20500 | ||
Bag of Beans | White | 50kg | 40000 | 45000 | 43000 | 42666.666666667 | 40000 | 43000 | 45000 | 43000 | 42750 | ||
Bag of Beans | Brown | 50kg | 32000 | 30000 | 30000 | 28000 | 30000 | 43000 | 38000 | 42000 | 43000 | 41500 | |
Tuber of Yam | Abuja | 1 Big Size Tuber | 1000 | 900 | 1100 | 1000 | 1000 | 800 | 750 | 700 | 800 | 762.5 | |
Tuber of Yam | Abuja | 1 Medium Size Tuber | 550 | 600 | 550 | 650 | 587.5 | 550 | 500 | 550 | 500 | 525 | |
Carton of Noodles | Indomie | 305g (Belle full) | 3200 | 3250 | 3300 | 3300 | 3262.5 | 3200 | 3250 | 3300 | 3300 | 3262.5 | |
Carton of Noodles | Indomie | 200g (Hungry man) | 3200 | 3200 | 3200 | 3200 | 3200 | 3200 | 3200 | 3200 | 3200 | 3200 | |
Carton of Noodles | Chikki | 100g | 2200 | 2200 | 2100 | 2300 | 2200 | 2200 | 2200 | 2100 | 2300 | 2200 | |
Carton of Noodles | Minimie | 70g | 1900 | 1750 | 1700 | 1800 | 1787.5 | 1900 | 1750 | 1700 | 1800 | 1787.5 | |
Carton of Noodles | Golden Penny | 70g | 1700 | 1500 | 1600 | 1600 | 1600 | 1700 | 1500 | 1600 | 1600 | 1600 | |
Bag of Garri | Ijebu | 80kg | 14500 | 14000 | 14500 | 14500 | 14375 | 14500 | 14000 | 14500 | 14500 | 14375 | |
Bag of Garri | White | 50kg | 10500 | 11000 | 11000 | 10500 | 10750 | 10500 | 11000 | 11000 | 10500 | 10750 | |
Bag of Garri | Yellow | 50kg | 11000 | 11000 | 11500 | 11000 | 11125 | 11000 | 11000 | 11500 | 11000 | 11125 | |
Basket of Potato | Sweet | Big Basket | 6000 | 6000 | 5500 | 5500 | |||||||
Basket of Potato | Sweet | Small Basket | 700 | 750 | 725 | 700 | 700 | 700 | |||||
Basket of Potato | sweet | Smallest Basket | 400 | 300 | 350 | 400 | 250 | 325 | |||||
Basket of Potato | Irish | Biggest Basket | 25000 | 25000 | 25000 | 20000 | 20000 | 20000 | |||||
Basket of Potato | Irish | Medium Basket | 2600 | 2600 | 2500 | 2500 | |||||||
Basket of Potato | Irish | Small Basket | 1700 | 1600 | 1650 | 1700 | 1500 | 1600 | |||||
Packet of Pasta | Golden Penny | 500g | 4400 | 4400 | 4300 | 4200 | 4325 | 4400 | 4400 | 4300 | 4200 | 4325 | |
Packet of Pasta | Dangote | 500g | 4200 | 4300 | 4300 | 4300 | 4275 | 4200 | 4300 | 4300 | 4300 | 4275 | |
Packet of Pasta | Power (1 pc) | 500g | 250 | 230 | 250 | 230 | 240 | 250 | 230 | 250 | 230 | 240 | |
Packet of Pasta | Bonita (1 pc) | 500g | 220 | 230 | 230 | 220 | 225 | 220 | 230 | 230 | 220 | 225 | |
Gallon of Palm Oil | Local | 5 Litres | 2700 | 2600 | 2800 | 2600 | 2675 | 2700 | 2600 | 2800 | 2600 | 2675 | |
Gallon of Palm Oil | Local | 25 Litres | 13000 | 13000 | 13000 | 13000 | 13000 | 13000 | 13000 | 13000 | 13000 | 13000 | |
Gallon of Vegetable Oil | Local | 5 Litres | 3400 | 3400 | 3500 | 3400 | 3425 | 3400 | 3400 | 3500 | 3400 | 3425 | |
Gallon of Vegetable Oil | Local | 25 Litres | 16000 | 17000 | 17000 | 16500 | 16625 | 16000 | 17000 | 17000 | 16500 | 16625 | |
Gallon of Vegetable Oil | Kings | 5 Litres | 3200 | 3000 | 3000 | 2800 | 3000 | 3200 | 3000 | 3000 | 2800 | 3000 | |
Gallon of Vegetable Oil | Wesson | 5 Litres | 4500 | 3900 | 3900 | 4300 | 4150 | 4500 | 3900 | 3900 | 4300 | 4150 | |
Gallon of Vegetable Oil | Mamador | 3.8 Litres | 2500 | 2450 | 2500 | 2800 | 2562.5 | 2500 | 2450 | 2500 | 2800 | 2562.5 | |
Gallon of Vegetable Oil | Power | 3 Litres | 1900 | 1800 | 1800 | 2200 | 1925 | 1900 | 1800 | 1800 | 2200 | 1925 | |
Bunch of Plaintain | Plantain | 1 Big Bunch | 500 | 600 | 500 | 600 | 550 | 500 | 600 | 500 | 600 | 550 | |
Bag of Flour | Dangote | 50kg | 13600 | 13600 | 13800 | 14000 | 13750 | 13600 | 13600 | 13800 | 14000 | 13750 | |
Bag of Flour | Honey well | 50Kg | 14000 | 13600 | 14000 | 14200 | 13950 | 14000 | 13600 | 14000 | 14200 | 13950 | |
Bag of Flour | Mama Gold | 50kg | 13800 | 13600 | 14000 | 14000 | 13850 | 13800 | 13600 | 14000 | 14000 | 13850 | |
Milk | Peak Powdered (Tin) | 400g | 1200 | 1300 | 1200 | 1250 | 1237.5 | 1200 | 1300 | 1200 | 1250 | 1237.5 | |
Milk | peak Powdered(Tin) | 900g | 2800 | 2750 | 2700 | 2750 | 2750 | 2800 | 2750 | 2700 | 2750 | 2750 | |
Milk | Peak milk (Refill) | 500g | 1200 | 1100 | 1200 | 1200 | 1175 | 1200 | 1100 | 1200 | 1200 | 1175 | |
Milk | Dano Powdered (Tin) | 500g | 1200 | 1200 | 1100 | 1200 | 1175 | 1200 | 1200 | 1100 | 1200 | 1175 | |
Milk | Dano Powdered(Tin) | 900g | 2600 | 2500 | 2400 | 2500 | 2500 | 2600 | 2500 | 2400 | 2500 | 2500 | |
Milk | Dano (Refill) | 500g | 1000 | 950 | 1000 | 1000 | 987.5 | 1000 | 950 | 1000 | 1000 | 987.5 | |
Milk | ThreeCrown (Refill) | 380g | 800 | 750 | 800 | 750 | 775 | 800 | 750 | 800 | 750 | 775 | |
Milk | Loya Powdered (Tin) | 400g | 1000 | 1100 | 1100 | 1050 | 1062.5 | 1000 | 1100 | 1100 | 1050 | 1062.5 | |
Milk | Loya (Refill) | 400g | 900 | 800 | 850 | 800 | 837.5 | 900 | 800 | 850 | 800 | 837.5 | |
Milk | Coast (Refill) | 500g | 750 | 750 | 750 | 750 | 750 | 750 | 750 | 750 | 750 | 750 | |
Cocoa Beverages | Milo (Tin) | 500g | 1500 | 1450 | 1500 | 1450 | 1475 | 1500 | 1450 | 1500 | 1450 | 1475 | |
Cocoa Beverages | Milo (Tin) | 1kg | 2500 | 2450 | 2400 | 2500 | 2462.5 | 2500 | 2450 | 2400 | 2500 | 2462.5 | |
Cocoa Beverages | Milo Refill | 500g | 1100 | 1100 | 1000 | 1100 | 1075 | 1100 | 1100 | 1000 | 1100 | 1075 | |
Cocoa Beverages | Bournvita Refill | 500g | 1300 | 1300 | 1200 | 1300 | 1275 | 1300 | 1300 | 1200 | 1300 | 1275 | |
Cocoa Beverages | Bournvita (Plastic) | 900g | 2200 | 2200 | 2300 | 2200 | 2225 | 2200 | 2200 | 2300 | 2200 | 2225 | |
Cocoa Beverages | Ovaltine Refill | 500g | 1000 | 900 | 1000 | 950 | 962.5 | 1000 | 900 | 1000 | 950 | 962.5 | |
Cocoa Beverages | Ovaltine(Plastic) | 500g | 1500 | 1500 | 1450 | 1400 | 1462.5 | 1500 | 1500 | 1450 | 1400 | 1462.5 | |
Coffee | Nescafe Classic | 50g | 600 | 600 | 600 | 600 | 600 | 600 | 600 | 600 | 600 | 600 | |
Tea | Lipton Yellow label | 52g | 300 | 290 | 300 | 300 | 297.5 | 300 | 290 | 300 | 300 | 297.5 | |
Tea | Top tea | 52g | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | |
Sugar | St' Louis Sugar(Cube) | 500g | 600 | 600 | 600 | 550 | 587.5 | 600 | 600 | 600 | 550 | 587.5 | |
Sugar | Golden Penny Sugar (cube) | 500g | 400 | 350 | 400 | 400 | 387.5 | 400 | 350 | 400 | 400 | 387.5 | |
Bread | Val-U | 1 loaf | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | |
Bread | Butterfield | 1 loaf | 450 | 450 | 400 | 450 | 437.5 | 450 | 450 | 400 | 450 | 437.5 | |
Egg | N/A | Crate | 1200 | 1200 | 1250 | 1200 | 1212.5 | 1200 | 1200 | 1250 | 1200 | 1212.5 | |
Bottled Water (Refill) | Cway | Refill | 600 | 650 | 600 | 600 | 612.5 | 600 | 650 | 600 | 600 | 612.5 | |
Juice | 5 Alive | 1 litre | 550 | 550 | 550 | 600 | 562.5 | 550 | 550 | 550 | 600 | 562.5 | |
Juice | Chivita | 1 litre | 550 | 550 | 600 | 550 | 562.5 | 550 | 550 | 600 | 550 | 562.5 | |
Gas | Refilling | 12.5kg | 4000 | 4000 | 3900 | 4000 | 3975 | 4000 | 4000 | 3900 | 4000 | 3975 | |
Gas | Refilling | 5kg | 1700 | 1800 | 1800 | 1700 | 1750 | 1700 | 1800 | 1800 | 1700 | 1750 | |
Tomatoes | Big Basket | round shaped | 6500 | 6500 | 15000 | 15000 | |||||||
Tomatoes | Medium Basket | round shaped | 3000 | 3000 | 8500 | 8500 | |||||||
Tomatoes | Small Basket | round shaped | 2500 | 2500 | 5500 | 5500 | |||||||
Tomatoes | Big Basket | Oval Shaped | NA | 10000 | 10000 | ||||||||
Tomatoes | Small Basket | Oval Shaped | NA | 6000 | 6000 | ||||||||
Fish | Kote (Horse Mackerel) | 1 kg | 650 | 600 | 600 | 600 | 612.5 | 650 | 600 | 600 | 600 | 612.5 | |
Fish | Titus (Mackerel) | 1 kg | 600 | 650 | 650 | 650 | 637.5 | 600 | 650 | 650 | 650 | 637.5 | |
Pepper | Big bag | 8000 | 7500 | 7750 | 20000 | 20000 | |||||||
Pepper | Medium bag | 4000 | 3500 | 3750 | 10000 | 10000 | |||||||
Maize | Yellow | 25000 | 22000 | 23000 | 23333.333333333 | 25000 | 22000 | 23000 | 23333.333333333 | ||||
Maize | White | 25000 | 22500 | 22000 | 23166.666666667 | 25000 | 22500 | 22000 | 23166.666666667 | ||||
Melon | Big bag | 45000 | 45000 | 45000 | 43500 | 43500 | 43500 | ||||||
Onions | Big bag | Dry Onions | 26000 | 17000 | 21500 | 94000 | 97000 | 95500 | |||||
Onions | Big bag | New Onions | 20000 | 13000 | 16500 | 65000 | 65000 | 65000 | |||||
Bush mango seed | (Ogbono) | 1 big bag | 105000 | 105000 | 115000 | 115000 | |||||||
Frozen food | Full chicken | Carton | 14000 | 14500 | 14000 | 14000 | 14125 | 14500 | 14000 | 14000 | 14166.666666667 | ||
Frozen food | Chicken lap | Carton | 13500 | 14000 | 14000 | 14000 | 13875 | 14000 | 14000 | 14000 | 14000 | ||
Frozen food | Turkey | Carton | 18000 | 18500 | 19000 | 18500 | 19000 | 19000 | 19000 | 19000 | |||
Crayfish | Nylon | 14000 | 14500 | 14250 | 12500 | 13500 | 13000 |
About Nairametrics Food Price Survey
Nairametrics Food Price Watch is a bi-weekly Household Market Survey that covers the prices of major food items in Nigeria, with emphasis on five major markets in Lagos – Mushin market, Daleko market, Oyingbo market, Idi-Oro market, and Mile 12 market.
Nairametrics | Company Earnings
- Custodian Investment Plc posts N12.69 billion profit in FY 2020.
Custodian […]
- 2020 FY Results: Nestle posts N39.2 billion, as earnings per share prints N49.47
Nestle Nigeria Plc released its audited […]
- 2020 FY: WEMA Bank posts N5.06 billion profit after tax as earnings per share prints at N13.1.
Wema Bank Plc released […]
- 2020 FY: Zenith Bank post N230.6 billion profit after tax
Zenith Bank Plc released its […]
- Mutual Benefits Assurance Plc boosts post tax profits by 25.9%
Mutual Benefits Assurance Plc released […]
-
Get the scoops and market intelligence that can help
you make better investment decisions right in your
mailbox.
Yekeen Abdul-Maliq
June 23, 2020 at 3:25 pm
Please let us also know their loan – to – deposit ratios as well as loan loss ratios. These are critical for the assessment of long-run health of our banks.