Traders and consumers alike have reacted to the significant surge in the prices of food items in Kano State and the Federal Capital Territory (Abuja). The price of yam, beans, groundnut oil and other staple food items skyrocketed in March, following the scarcity of fuel across the country.
A survey carried out in Wuse and Yankura Markets in Abuja and Kano State respectively, by Nairametrics Research shows that the price of foreign rice increased by 6.5% to sell for an average of N27,700 at Yankura Market in Kano State.
Similarly, a 25-litre gallon of Kings groundnut oil that was sold for an average of N28,000 at Wuse Market in Abuja, is now selling for an average of N34,500, representing an increase of 23.2% in less than a month.
Highlight of prices in Yankura Market (Kano)
- A 50kg bag of foreign rice which was previously sold for an average price of N26,000 last month recorded a 6.5% increase and now sells for an average of N27,700 this month.
- A 50kg bag of red beans, which was initially sold for N23,000 in February now sells for an average of N26,000, representing a 13% increase compared to the previous month.
- Also, a 50kg bag of white beans which was sold for an average of N20,000 last month now sells within the range of N22,000 and N23,000.
- A 5-litre gallon of groundnut oil, which was initially sold for an average of N6,300, now sells for N7,500 at Yankura market.
- A big tuber of yam was previously sold for N900 but now sells within the range of N1,100 and N1,300. Similarly, a medium-sized tuber of yam now sells for as high as N800 compared to an initial average of N550.
Highlight of prices in Wuse Market (Abuja)
- A carton of small Indomie that was sold for an average of N2,900 in February at Wuse Market has now increased to sell for an average of N3,100, while Superpack Indomie now sells for an average of N5,000 compared to an initial average of N4,800.
- A carton of 3.5 litre of Mamador oil, which was sold for N15,500 last month, is now being sold for an average of N25,200 in the market.
- Also, a pack of Golden Penny Spaghetti that was sold for N6,250 last month, is now being sold for 6,400.
- A carton of Gino sachet tomato is currently sold for N4,300 while the 400 grams tin of 24 is sold at N14,000.
- A bag of white beans is sold for N42,000 while brown beans is sold for N49,000. A modu of the white beans goes for an average of N900 and the red one is sold for N1,000.
- A small basket of fresh pepper is currently sold for an average of N1,500 while tomatoes in the same size is being sold for N2,000.
- A tuber of yam that was sold for an initial average of N700 is now sold for N1,000 at Wuse Market.
What they are saying
A trader identified as Tochukwu attributed the rise in food price to the hike in the cost of transportation.
“Since fuel became scarce, vehicle owners now charge higher for transportation. I use to come to this market from Galadima for N200. Now I pay N300, If it’s you won’t you increase the price?” he asked.
Another trader named Chioma who sells groceries lamented the cost of waybill.
She said, “Everything has increased, the things I waybill from the east at N5,000 is now N8,000. Just yesterday, I asked my customer at Abba to waybill garri for me, when he got to the park, the price for waybill had doubled.”
Similarly, Mahmoud, a trader who sells yam and plantain at Wuse Market decried the recent hike of transporting goods.
He said, “I usually buy yam from Benue but the cost of waybilling it now has gone up. Some days they will postpone the waybill till the next day because of fuel.”
When asked if the price is likely to come down, Mr Mahmoud said, “that is if fuel too comes down but you know Nigeria if things increase because of fuel, they hardly come down.”
