The Lagos food market experienced significant price fluctuations in April 2025, with some staples recording double-digit percentage increases while others offered relief.
According to the latest Food Price Survey carried out by a media outlet, key drivers behind these movements include rising transportation costs, poor harvest yields due to weather conditions, and persistent supply chain disruptions.
Notable Price Increases
– Frozen Fish: Titus (Mackerel) prices soared by 115% to N12,900, while Kote (Horse Mackerel) jumped by 47.37% to N7,000.
– Tomatoes and Pepper: A big basket of round tomatoes surged by 86.47% to N44,750, and pepper prices increased by 85.43% to N140,000.
– Semovita: A 5kg pack of Honeywell Semovita rose by 26.35% to N9,350.
– Grains and Staples: Brown beans increased by 11.76% to N95,000, and yellow maize climbed by 10.29% to N75,000.
Price Declines
– Local and Foreign Rice: Mama’s Pride rice fell by 16.28% to N72,000, and Caprice rice declined by 9.19% to N61,750.
– Sweet Potatoes: A small basket dropped by 12% to N22,000, and a big basket fell by 9.50% to N45,250.
– Oloyin Beans: Prices decreased by 10.71% to N75,000.
Market Insights
Traders and consumers shared their experiences with the recent price fluctuations.
Abu from Mile 12 attributed the sharp increase in pepper prices to higher transportation costs and poor harvests.
Mallam Kabiru, a tomato seller in Mushin Market, noted the impact of transportation and perishability on prices.
National Context
Nigeria’s headline inflation rate rose to 24.23% in March 2025, driven by increasing food and essential goods prices.
Food inflation surged to 21.79% year-on-year, with month-on-month food inflation standing at 2.18%.
Lagos Food Inflation
Lagos State recorded a food inflation rate of 24.2% year-on-year in March 2025, with a significant monthly spike of 5.1%. The elevated food inflation is driven by rising prices of core staples. /Additional report by Nairametrics