Food prices in the Federal Capital Territory (FCT) and its surrounding areas have begun to decline, the News Agency of Nigeria (NAN) reports.
A market survey conducted by NAN across different locations in the FCT shows varying price reductions on essential food items, depending on market location and type. Prices tend to be lower in satellite town markets compared to those in the city center.
At Kado Market, a 50kg bag of rice, which previously sold for between N97,000 and N100,000 in January, now sells for N87,000. Similarly, a 25kg bag of rice, formerly priced at N45,000 to N50,000, is now available for N43,500, depending on the brand.
In Garki Market, a 50kg bag of rice has dropped from N92,000 in January to N81,000–N83,000, while a 25kg bag now sells for N42,000–N43,000, compared to N45,000 earlier in the year.
In Nyanya Market, located in the satellite town, a 50kg bag of rice, which sold for N90,000–N93,000 in January, now goes for N70,000–N83,000, depending on the brand.
At Apo Fish Market, the price of a 50kg bag of rice has dropped from N105,000 to N93,000.
Onions, another staple food item, have also seen significant price reductions. At the popular Orange Market along Abuja-Keffi Expressway, a bag of onions, previously sold for N90,000–N100,000 in January, now costs N50,000–N55,000. Similarly, in Garki Market, onion prices have dropped drastically from N180,000–N200,000 to N55,000–N60,000 per bag.
In Karu Market, a bag of Bendel (yellow) garri, previously sold for N57,000–N60,000, now costs N55,000.
For palm oil and groundnut oil, a 25-litre keg of red oil, which was sold between N75,000 and N83,000 in January, now costs between N50,000 and N55,000 at Nyanya Market.
At Apo Fish Market, a 25-litre keg of Terra groundnut oil has decreased from N88,000 to N84,000. Similarly, a four-litre keg of groundnut oil now sells for N15,500, down from N17,500–N20,000.
White beans have also seen a price reduction. A big bag, initially priced at N150,000–N200,000, now sells for N115,000–N120,000 at Kado Market.
A mudu of white beans, which sold for N2,100–N2,300 in January, now costs N1,700–N1,800. Likewise, a mudu of brown beans, previously N2,200–N2,800, is now available for N1,800–N2,000 at Orozo Market.
Price Increases in Selected Food Items
Despite these reductions, some food items have recorded price hikes. Yam, pepper, and plantain are among the affected commodities.
At Wuse Market, five medium-sized tubers of yam, which sold for N8,000–N10,000, now cost N15,000. In Lugbe and Orozo Markets, yam prices have risen from N6,000–N7,000 to N10,000.
Similarly, plantain prices have surged. A bunch of plantain, previously sold for N6,000, now ranges between N8,000 and N9,000.
Pepper has also experienced a significant price increase. A big bag of pepper, initially N31,000, now sells for N73,000. A big basket of shombo, which cost N30,000 in January, is now sold for N36,000.
Reactions from Consumers and Traders
Some consumers have welcomed the price drops, although they believe that the reductions are not yet significant enough to ease the economic burden.
Mrs. Amina Suleiman, a mother of four, expressed mixed feelings about the trend.
“I am happy that prices are coming down, but I do not think we should start celebrating yet. The government must do more to improve security and infrastructure and provide incentives for farmers. This will help further reduce food costs,” she said.
Mr. Albert Okoro, a rice wholesaler in Garki Market, attributed the drop in prices to a slight reduction in fuel prices, which has eased transportation costs.
However, he emphasized that sustained policies and interventions would be necessary to maintain price stability in the long run.
What you should know
Last week, Nairametrics reported that during the first week of Ramadan, Abuja markets are seeing a slight decline in food costs.
While traders, consumers, and experts acknowledge the recent price relief, concerns remain over whether this trend will be sustained.
