Lagos Protests Trigger Sharp Decline in Perishable Food Prices

In Lagos, the prices of some perishable foods have fallen by nearly 50 percent amid the ongoing nationwide protest against economic hardship. The #EndBadGovernanceinNigeria protest, which started on August 1, is set to continue until August 10, drawing attention to the severe economic challenges facing Nigerians.

Interviews conducted by NAN at the Ile-epo food market in the Alimosho/Agege area revealed that the protests have led to a significant drop in market activity and a subsequent reduction in food prices.

Rabiu Aliu, a tomato trader, noted that prices for various perishable goods, including tomatoes and chili peppers, have plummeted to mitigate losses from decreased patronage. “A 50kg basket of tomatoes now sells for between N40,000 and N50,000, down from N80,000 to N100,000 two weeks ago. Similarly, a 25kg basket now sells for N18,000 to N19,000, compared to the previous N30,000 to N40,000,” Aliu explained.

Another trader, Mukit Afolabi, highlighted the impact of the protests on prices, stating, “On the first day of the protest, tomatoes were even cheaper due to lack of buyers. A 5kg basket of tomatoes that was N12,000 two weeks ago now sells for N4,000.” However, he noted that scotch bonnet peppers have become scarce, with prices skyrocketing from N40,000 to N84,000 per bag.

Foodstuff trader Ibrahim Ahmed confirmed that prices for staples like rice and beans have also dropped. “A 50kg bag of short grain rice now sells for N73,000, down from N83,000 last month, and long grain rice has decreased to N78,000 from N87,000 to N88,000. A paint bucket of honey beans is now N10,000, compared to N12,000 in July,” Ahmed said.

Conversely, other items such as groundnut oil and palm oil have seen significant price increases. Hope Osagie, a trader at Agege Market, reported, “A 25-liter container of groundnut oil now sells for N60,000, up from N38,000 last month, while a 25-liter container of palm oil has risen to N36,000 from N27,000 in July.”

Despite the price hikes in some items, buyers like Anuoluwa Olayinka are pleased with the drop in prices for tomatoes and other goods. “I bought as much as I could afford since the prices have dropped. There are fewer people in the market, so traders are selling off to minimize loss,” Olayinka said. Another buyer, Ada Uzor, remarked on the unpredictability of food prices, attributing the current changes partly to the ongoing protests.