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Home Business News Business

Cost of living crisis: Lagos opens discounted food markets across the state

Chike Olisah by Chike Olisah
March 16, 2024
in Business, Business News
Food inflation, food price,
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The Lagos State Government has announced the commencement of ‘Ounje Eko’ food markets for the sales of essential food items at discounted prices across the state with effect from Sunday, March 17, 2024.

This disclosure is contained in a statement signed by the Lagos State Commissioner for information and strategy, Gbenga Omotosho, who said that the markets will offer Lagos residents a 25% discount on staple food items like rice, beans, gari, bread, eggs, tomatoes, and pepper.

Omotosho said this is to prevent sharp practices and ensure the foodstuff reaches a large number of Lagosians, a voucher system will be introduced as the pilot scheme kicks off.

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He noted that independent payment solution providers and food vendors have been identified and carefully selected to operate the process, adding that they will also provide real-time data on the exercise for monitoring.

Food items to be sold at 25% discount for residents

The statement from Omotosho reads,

  • ‘’Governor Babajide Olusola Sanwo-Olu has directed that ‘Ounje Eko’ food markets should commence discounted sale of food items across the five divisions of Lagos effective from Sunday, March 17, 2024.
  • ‘’The food items – rice, beans, gari, bread, eggs, tomatoes, pepper, among others – will be sold at 25% discount to residents.
  • ‘’In order to prevent sharp practices and ensure the foodstuff reaches a large number of Lagosians, a voucher system will be introduced as the pilot scheme kicks off.
  • ‘’Independent payment solution providers and food vendors have been identified and carefully selected to operate the process. They will also provide real-time data on the exercise for monitoring.

Price list of some food items

The commissioner added,

  • ‘’For the purpose of transparency, prices of the items have also been listed. A 5kg bag of rice would sell for N5,325 while 1kg goes for N1,065; 5kg bag of Beans – N6,225 while 1kg would sell for N1,245. Prices of other staple food items will also be made available through various media outlets.
  • ‘’The markets will be open at 27 locations in Ikeja; six in Lagos Island; nine in Ikorodu; five in Epe; and 10 in Badagry divisions.
  • ‘’Mr. Governor has called on all Lagosians to cooperate with the operators at the various locations, monitor the process, and provide feedback through official channels of the Lagos State Government.’’

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Tags: Discounted Food marketGbenga OmotoshoGovernor Babajide Sanwo-oluLagos StateOunje Eko’ food markets
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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