Many residents of the Federal Capital Territory (FCT) have breathed a sigh of relief following the decrease in prices of some staple foods decrease in the city centre and satellite towns.
A market survey conducted by the News Agency of Nigeria (NAN) revealed that while prices of some food items are coming down, others remain on the rooftop.
The survey was conducted in the Apo Fish Market, Dutse, Lugbe and Wuse, Nyanya markets and Orange Market.
The residents attributed the reduction in prices to harvest season, which has increased food supply, as well as tax waiver on some food items granted by the Federal Government.
NAN reports that tomatoes, Irish potatoes, peppers, sweet potatoes, and yams are being harvested, which has helped to boost supply and ease prices.
Mr Godwin Solomon, a tomato seller at Apo Fish Market, said a big basket full of tomatoes which was sold for as high as ₦230,000 in June was now being sold at ₦40,000 to ₦55,000.
“A dustbin full of tomatoes priced between ₦16,000 to ₦20,000 has dropped to between ₦5,000 to ₦12,000, offering some relief to consumers.
“Also, a dustbin-full of pepper now sells for ₦6,000 to ₦9,000 depending on the day of the week while that of onions goes for ₦4,500 from ₦6000,” Solomon said.
A yam seller at the Dutse market, David Adole, said consumers who for two months could not buy yams, were now able to buy, due to a price reduction.
“Old yam is rarely available now in the market, what we have now is the new yam and it is more affordable for the people.
“Five tubers of yam which we used to sell at about ₦25,000 to ₦35,000, now go for between ₦12,000 to ₦18,000.
“A dustbin-full of sweet potatoes now goes for ₦3,000 from the former price of ₦5,000 while Irish potato dropped from around ₦25,000 to between ₦6,000 and ₦8,000,” he said.
Equally, the price of “Garri” (cassava flake) has decreased minimally in the market.
A “mudu”, (the common unit of measure for foodstuff in the market) of white garri now goes for ₦1,100 while red garri goes for ₦1,300 compared to earlier prices of ₦1,400 and ₦1,600 respectively.
At the Nyanya market, Mrs Yetunde Adeleke, a garri seller said that a bag of white and red garri was sold at ₦66,000 and ₦70,000 in June but has reduced to ₦55,000 and ₦60,000 respectively.
Ahmed Aliyu, at the Lugbe market, said the price of grains – maize and guinea corn – has remained at ₦1500 per mudu while millet was reduced to ₦1400 from ₦1600 it was sold for in June.
However, NAN checks revealed that prices of some food items like meat, rice, beans and provisions either remained unchanged or had slightly increased in the market.
Mr Shehu Danladi, a butcher at the Wuse market, said two months ago, a Kilo of beef was sold at N5000, but it was now sold for between ₦5200 to ₦5,500.
Mrs Jane Agbende, said a bag of white beans, which was sold at ₦200,000 in June, has increased to ₦250,000.
“One mud of brown beans was sold at ₦1,800 and white beans ₦1,600 but is now ₦3,200 and 2,800 respectively.
“The price of beans has been unstable, but we hope that by October/November, the price will reduce because farmers will start harvesting their produce,” Agbende said.
Alhaji Mohammed Idris, who sells rice in bags at the Orange market, Nasarawa State, said the cost of rice had also been unstable for a while.
According to Idris, the situation has affected the trade, as traders no longer can purchase large stock from farmers as they were doing before.
He said a 50kg bag of local rice sold for ₦64,000 in June, is currently being sold between ₦80,000 to ₦84,000, while its 25kg bag sold for ₦35,000 is now ₦42,000.
“We sold a mudu of local rice for ₦1,800 in June, but it is now sold at ₦2,800.
Honestly, customers are not buying our goods the way they used to do because of hardship.
“In spite of the reduced price of some food items, the level of patronage by consumers has remained low,’’ Idris said.
Mrs Amina Shaibu, a foodstuff seller, also corroborated Idris that most people now preferred to buy only what they needed at the time due to the high cost of living.
“The sellers are feeling the impact. We can barely make enough income to sustain our families these days.
“We pray that the prices of these items will continue to decrease because people are suffering a lot.
“Our customers are also no longer patronising us as they used to.
“We want the government to do the needful, ensure security, reduce cost of production, and stabilise food prices,” she said.
A teacher, Mrs Grace Udochi, said even with the minimal lower prices, Nigerians are still struggling and finding it almost impossible to feed or make ends meet.
“The demand for food remains constant, but the ability to purchase has become increasingly strained, thus the urgent need for solutions to mitigate the impact of inflation on everyday Nigerians,” Udochi said.
Mr Hogan Abraham, a Civil Servant, said the reduction in prices of some of the food items was a big relief for parents, especially during this holiday period.
“As you know most students are on holidays, and most children have formed the habit of eating unrestrained while on holidays.
“I went to the market on Thursday to restock my house after a long time, and you cannot imagine my excitement when I realised that prices of some food items have reduced,” Abraham said.
Malam Mohammed Abdullahi, a farmer in Karshi told NAN that some traders were not sincere, as they always tried to make excess profits off their customers.
According to him, traders are using this high cost of prices in the market as an opportunity to make too much profit, which is not fair.
Meanwhile, Dr John Bello, an economist has advised the government to promote domestic production of essential goods.
According to Bello, local production will help to reduce reliance on imports, mitigate the impact of currency devaluation and improve the standard of living of Nigerians.
NAN reports that the National Bureau of Statistics (NBS) in its Consumer Price Index (CPI) and Inflation report for April showed food inflation increased to 40.53 per cent on a year-on-year basis.
The NBS said the April figure indicated a 15.92 per cent increase compared to the rate recorded in April 2023 at 24.61 per cent.
The Bureau in its July CPI report however showed that Nigeria’s headline inflation rate declined to 33.40 per cent.
However, on a year-on-year basis, the headline inflation rate in July was 9.32 per cent higher than the rate recorded in July 2023 at 24.08 per cent.
The increase in the headline index for July on a year-on-year basis and month-on-month basis was attributed to the rise in prices of some goods and services at the divisional level.
