Easter shopping activity across major markets in Lagos has slowed significantly, as rising food prices force many residents to cut back on spending.
A survey conducted over the weekend in key markets such as Mile 12 Market, Oyingbo Market, and areas along the Lekki-Epe corridor revealed sharp increases in the cost of essential cooking ingredients over the past two weeks.
A bag of scotch bonnet pepper (atarodo) now sells for about N105,000, up from N85,000 during the recent Eid al-Fitr period. A 25kg bag of bell pepper (tatashe) has doubled to N70,000 from N35,000, while chilli pepper (shombo) has risen to N60,000 from N35,000.
Other staples have also seen price hikes. A 100kg bag of onions now costs N84,000, up from N71,000, while a 50kg basket of tomatoes sells for around N40,000, compared to N30,000 within the same timeframe.
Traders attribute the surge to increased transportation and logistics costs, largely driven by high fuel prices, including petrol and diesel. They also point to global energy market disruptions linked to geopolitical tensions involving Iran, Israel, and the United States.
Market stakeholders say the situation has weakened consumers’ purchasing power, with many buyers now opting for smaller quantities or abandoning purchases altogether.
The rising costs have also disrupted traders’ planning, especially due to increased expenses in transporting goods from northern parts of Nigeria.
Some residents say they are scaling down their Easter celebrations, citing the high cost of food. Many have called on the government to stabilise fuel prices, address supply chain challenges, and introduce measures to ease the burden on households.