The prices of some perishable food items have plummeted by about 50 percent amid the ongoing nationwide hunger protest, according to reports from the News Agency of Nigeria (NAN).
The protest, marked by the hashtag #EndBadGovernanceinNigeria, is scheduled to continue until August 10, aiming to draw the Federal Government’s attention to the severe economic hardships facing Nigerians.
In separate interviews with NAN on Friday, traders and buyers at the Ile-Epo food market in the Alimosho/Agege area of Lagos confirmed the significant price drops. NAN also reported that local food markets across the area saw reduced activity due to the protests.
Rabiu Aliu, a tomato trader at Ile-Epo market, stated that the prices of perishable items such as tomatoes and chili peppers have dropped to minimize losses caused by low patronage during the protests.
“A 50kg basket of tomatoes now sells for between N40,000 and N50,000, compared to N80,000 to N100,000 two weeks ago,” Aliu said. “A 25kg basket sells for between N18,000 and N19,000, down from N30,000 to N40,000 two weeks ago. We have no choice but to sell off because few customers are available to buy the produce. The purchasing power is actually low at the moment.”
Another trader, Mukit Afolabi, echoed this sentiment, noting that prices of perishable items have decreased due to the hunger protest.
“On Day 1 of the protest, tomatoes were even cheaper because there was no one to buy. I bought a 5kg basket of tomatoes at N4,000, which sold for N12,000 two weeks ago,” Afolabi said. “However, rodo (scotch bonnet pepper) is still expensive. On Monday, a bag sold for N40,000, but today it sells at N84,000 because it is currently unavailable in the market. No produce truck has delivered any pepper since Wednesday, the day before the protest began.”
Ibrahim Ahmed, a foodstuff trader, confirmed a drop in the price of rice and beans. “A 50kg bag of short grain rice now sells for N73,000, down from N83,000 last month. Long grain rice sells for N78,000 per 50kg bag, down from N87,000 to N88,000. A paint bucket of honey beans now sells for N10,000, compared to N12,000 in July. Other varieties now sell for between N8,000 and N9,000,” Ahmed said.
Conversely, the prices of groundnut oil and palm oil have surged. Hope Osagie, a trader at Agege Market, reported that a 25-litre container of groundnut oil now sells for N60,000, up from N38,000 last month, while a 25-litre container of palm oil now sells for N36,000, up from N27,000 in July. “We really do not know the reason for the hike, but generally, foodstuff prices have been rather unpredictable,” Osagie noted.
Despite the price hikes in some items, buyers like Anuoluwa Olayinka expressed excitement over the drop in the price of tomatoes and other perishable items. “I bought as much as I could afford as I saw the price had dropped. There are just a few people in the market, which is quite unusual for a Friday. So, I guess traders just want to sell off to minimize loss,” Olayinka said.
Another buyer, Ada Uzor, remarked, “Foodstuff prices are unpredictable, but I think the protest contributed to the slight price drop of some items.”
