Despite a welcome, albeit slight, easing of prices for major staple foods like rice, vegetable oil, onion, tomato, and wheat meal, Lagos markets continue to offer a mixed experience for shoppers this month.
While the drop in prices of essential food items has provided some relief, households are now contending with rising costs of other commodities like pepper, frozen foods, egusi, and ogbono (bush mango seeds).
The latest monthly survey by the Nairametrics research team for March 2025 reveals a market marked by volatility, where reductions in certain food categories are being counterbalanced by hikes in others, leaving consumers to navigate a highly unpredictable pricing landscape.
Breakdown of March 2025 food price shifts
The latest market price survey reported in this article is a result of a physical market survey conducted by Nairametrics in four markets in Lagos – Mushin, Oyingbo, Mile 12, and Daleko.
The survey reflects a complex pricing environment where consumers are experiencing both relief and strain simultaneously.
- Pepper: The price of pepper mounted pressure as a medium bag rose sharply by 132.14%, posting the highest price increase for the month, with the big bag increasing by 50%.
- Frozen Foods: Notably, the price of frozen food specifically the price of Titus (mackerel) and Kote (horse mackerel) surged by 87.5% and 40.63% respectively.
- Other staple foods: Price increase was also recorded for Irish potato, 500g of bournvita jar, egusi (melon), and ogbono.
This uneven pricing pattern is typical of Nigeria’s food supply chain, where factors like seasonality, fuel prices, transportation logistics, and regional harvest yields all converge to create volatile price points.
On the flip side, some food items such as 5ltrs of palm oil and vegetables, a big bag of dry onions, 50kg of foreign and local rice, 1kg of Honeywell wheatmeal, and a big basket of tomatoes recorded price declines.
However, prices of some essential goods remained relatively stable, experiencing only marginal fluctuations.
Market sentiment
The market survey this month at Mushin, Mile 12, Daleko, and Oyingbo, Lagos’ key food hubs, reveals a catch between moderate relief and persistent challenges.
- The disparity in prices is creating mixed feelings among shoppers. Some express cautious optimism, while others voice concern over the surge in essential soup ingredients.
A trader, Mrs. Amaka at Mushin market, shared, “The drop in rice and oil prices is a relief, but the hike in egusi and ogbono is frustrating. It’s like balancing a scale that never stays even.”
Meanwhile, Mr. Sodiq, a trader at Mile 12, explained, “The price of pepper went up because of supply issues from the North due to transportation costs and weather. But tomatoes dropped as farmers had a bumper harvest this season.”
Frozen food seller, Ms Adelani, at Daleko noted that the increased price is being driven by import complications and volatile currency exchange.
Food items that experienced price increases (strain for consumers)
- The price of a medium bag of pepper rose sharply from N28,000 to N65,000, indicating a 132.14% increase; with a big bag selling for an average price of N75,000 from N50,000, posting a 50% price increase.
- The price of frozen food items, Titus and Kote, increased by 87.5% and 40.63% respectively; due to logistics and supply chain issues. A kilo of Titus fish now sells at N6,000 compared to N3,200 in February.
- A bag of Egusi, formerly N257,000, now sells between N300,000 and N320,000, recording a 24.51% increase.
- A big bag of Irish potatoes recorded a 23.4% increase to now sell for an average price of N250,000.
- A 500g jar of Bournvita increased by 17.34% to sell for N4,940 from N4,210 recorded in the month of February.
- The price of Ogbono saw a significant jump, moving by 12.73% from N550,000 per bag to N620,000.
Staple foods that recorded price reductions (relief for consumers)
- A 5-litre keg of palm oil decreased from N12,500 in February to N9,300 in March, reflecting a decline of 25.6%, while a 5-liter keg of vegetable oil recorded a dip of 19.35% to now sell for an average price of N12,500 from N15,500.
- The price of a 70kg carton of Mini-mie noodles now sells for an average of N8,000 from the initial average of N9,500, displaying a decrease of 15.79%.
- A big sack of dry onions, previously N115,000, now sells for N100,000. This reveals a decrease of 13.04%
- The price of a 50kg bag of Cap parboiled rice dropped from N78,000 to an average of N68,000, easing some pressure on household staples and reflecting a 12.82% dip. In the same vein, the price of Mama Pride reduced by 11.34% to now sell for an average price of N86,000.
- The 1kg bag of Honeywell wheat meal fell by 12.28%, from N1,710 to N1,500.
- There was a marginal reduction in tomato prices, with a big basket now selling for an average of N23,000, down from N25,300 in the prior month.
About the Nairametrics Food Price Survey
- The Nairametrics Food Price Watch is a monthly market survey tracking the prices of major food items across Nigeria.
- This report specifically covers four key markets in Lagos State: Mushin Market, Daleko Market, Oyingbo Market, and Mile 12 Market.
- The survey provides up-to-date insights into food price trends, helping businesses, policymakers, and consumers make informed decisions.
