Easter: Price Of Perishables goods Skyrocketed In Lagos Market

Easter: Price Of Perishables Goods Skyrocketed In Lagos Market

Easter: Price Of Perishables Goods Skyrocketed In Lagos Market

News Agency Of Nigeria, NAN made a survey in some major markets in Lagos. Markets in Mile 12, Oyingbo, Mushin and surulere this Easter week. Survey show that prices of both perishable and non perishable items went more than 25 per cent this week.
List of goods that increased in price Nigeria market

1. 40 kilogram basket of tomato. Increased from 6,000naira to 8000naira.

2.  50kg bag of Scotch Bonnet pepper. Increased from N14,000 to N7,000. It might increase more because of increase in demand.
Not only bonnet pepper, 50kg basket of bell pepper (Tatashe) Skyrocketed to N15,000 from N10,000.

3. 100kg basket of onions went from N14,000 to N19,000 within a month.

4. 25 litres of vegetable oil has increased from N17,000 to N19,500.  The good news is, palm oil dropped from N18,000 to N12,000.

5. Local and foreign 50kg bag of rice remains the same at N22,000 and N23,000. No changes in price.

 

The increase in price is not caused by the manufacturing company or present economy. The major problem Nigeria market is facing is the middle men.

Mr Femi Odusanya, one of the middle men and Spokesperson for Mile 12 Market Traders Association, attributed the situation to the seasonal nature of the farm produces.

Harvest is winding down; another planting season is beginning and demands for these goods have increased. Due to low supply of the product, price of goods increased.

He told NAN that youths should start large scale farming, this would increase the sector’s Gross Domestic Product. And improve the economy of the nation.

“What has happened is that harvest is winding down, supply is reducing while demand is constant.
“And with the Easter celebration, demand has increased so the price would go up.

“What the government can do is to initiate measures that would ensure mechanised farming all over the country.
“By so doing, the prices would be constant as supply is constant and able to meet up with consumption and processing into paste and other things for exportation.
“Money will also remain in the country, the nation will compete better in the Africa Continental Free Trade Area (AfCFTA) and disposable income will be more meaningful as people can plan better,’’

Although people are complaining about the increase in price, others don’t care.

Updated: April 3, 2021 — 11:43 am

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