Lagos food market delivered a mixed performance in May 2025, with some staple food items witnessing notable price drops while others surged on the back of seasonal and structural supply constraints.
Amid economic uncertainties, a 50kg bag of local parboiled rice recorded a sharp decline of 12.96%, now selling for an average of N53,570, compared to N61,550 in April.
Similarly, the price of a 5kg pack of Semolina dropped modestly, also did a kilogram of horse mackerel (Kote), offering slight relief to households battling shrinking purchasing power.
Market participants, including both sellers and consumers, responded to various influencing factors such as the cost of transporting food items to Lagos, which is affected by fluctuating fuel prices. Despite recent price adjustments, overall market prices remain high, with many noting that the decline in prices has been only marginal.
These reactions reflect a volatile price trend amid lingering inflationary pressures, high transportation costs, and off-season supply shortages.
Market impulse: traders and consumers react
Traders across surveyed markets expressed concerns over fluctuating diesel costs that impact the transportation of the food items from their harvest region and uncertain supply timelines from the North. Many blamed the price hikes on seasonal transitions and deteriorating road conditions that hamper the movement of perishable goods.
Consumers, meanwhile, continue to grapple with reduced food budgets. “Even when the price of rice goes down, it doesn’t make much difference because everything else is climbing,” a shopper at Oyingbo market lamented.
Shoppers in markets such as Mile 12, Oyingbo, and Mushin expressed cautious optimism over the price drops. “This reduction helps, but it’s not enough. Prices are still too high compared to last year,” said Mrs. Adeyemi, a trader and mother of four.
Others echoed similar sentiments, welcoming the reprieve but calling for sustained interventions to ensure price stability. “We need consistency. Today it drops, tomorrow it goes back up,” noted a shopper at Daleko market.
“Last month, N5,000 could hardly get me much. Now, I can buy rice and garri and still have change. Things are improving slightly.” — Mrs. Adeola, shopper at Mile 12 Market.
“Yes, tomatoes are a bit cheaper now, but you never know what next week will bring. Prices keep jumping up and down.” — Chuks, food vendor in Mushin.
Market analysts attribute the recent easing to better regional harvests, reduced hoarding activities, and a temporary stabilization in fuel and logistics costs. However, they warn that prices remain vulnerable to seasonal volatility and broader macroeconomic pressures.
Food items that recorded a price reduction
Amid improved supply chains and reduced market hoarding, select food items recorded notable price reductions across major Lagos markets in May 2025.
- A 50kg bag of local rice dropped by 12.96%, declining from N61,750 to N53,750, offering much-needed relief for households battling persistent food inflation.
- Similarly, the average price of frozen horse mackerel (Kote fish) fell by 14.29%, now selling at N6,000 per kilogram, down from N7,000, driven by increased imports and improved cold chain logistics.
- Also experiencing a downward trend is the 5kg pack of Semovita, now selling for N8,625, representing a 7.75% decrease from N9,350 recorded last month.
- In the grains category, a 50kg bag of yellow maize saw a 9.33% decline, selling at N68,000 from N75,000, while a 50kg bag of white garri dropped by 5%, now priced at N38,000, down from N40,000.
Upward movers: pepper, tomatoes, chicken, and palm oil climb
While rice and other staples eased, several food items saw sharp increases in May.
- Pepper prices jumped by 28.57%, as a big bag rose from N140,000 to N180,000
- Tomatoes followed suit, with a big basket of round-shaped tomatoes up by 30.67%, now selling for N58,500 from N44,750 recorded in April.
Traders attribute the increases to off-season scarcity and supply disruptions from northern farms.
- Frozen poultry prices also climbed: a carton of chicken laps rose by 15.38% to N60,000, while a carton of turkey increased by 8.76%, now priced at N90,000.
- Local palm oil (25 litres) surged 23.23% month-on-month to sell for N61,000, driven by rising demand and supply bottlenecks.
- Brown beans (50kg) increased by 13.89%, reaching N82,000, while a basket of sweet potatoes rose by 10.50% to average N50,000.
Food inflation updates for April 2025
According to the National Bureau of Statistics (NBS), Food inflation in April 2025 was 21.26% year-on-year, a significant 19.27% drop from 40.53% in April 2024 and a 0.53% drop from 21.79% in March 2025. On a month-on-month basis, food inflation declined slightly to 2.06% in April from 2.18% in March.
The sharp decline is attributed to the rebasing effect resulting from a methodology change from the beginning of the year. However, the one-month decline as noted by the NBS was driven by reduced prices in staple food items such as maize flour, wheat grain, dried okro, yam flour, soya beans, rice, bambara beans, and brown beans.
This is the second consecutive month of decline in food inflation, suggesting easing pressure on household food expenditure, though the rates remain historically high.
Lagos State food inflation report for April 2025
In April 2025, Lagos State experienced a significant moderation in food inflation, providing some relief to consumers grappling with high living costs. Lagos recorded a year-on-year food inflation rate of 22.74%, a decrease from 24.20% in March 2025. On a month-on-month basis, food inflation in Lagos stood at 5.13%, slightly down from 1.2% in March.
The Nairametrics Food Price Survey showed that the prices of major food items across Lagos markets have been declining gradually since February 2025, with slight moderations in March 2025 and April 2025.
The statistics presented for Lagos State align with the findings from the April food survey conducted by Nairametrics, which recorded price declines in select food items. Furthermore, the continued decrease observed in this month’s market survey suggests a potential further drop in food inflation for May.
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.