** Traders attribute trend to cessation of hoarding, artificial price hike
By Amuda Dan Sulaiman Fab
In a welcome development, signifying major relief for Nigerian households, the cost of staple foods has significantly dropped in major markets in Kogi State, according to a survey carried out by NationalWatch Tv.
Findings in major markets in the State revealed that the average prices of staple foods such as rice, beans, yam, potatoes, garri, vegetable oil, tomatoes, flour and maise have decreased by 15 to 20 per cent in, compared to what they were as at few months ago.
In Lokoja, at the popular Kpata Market, a 50kg bag of rice, which sold between N90,000 to N95,000 in January 2025, is now sold around N75,000, depending on the type of grain, either short or long grain.
Also, the price of a big basket of fresh tomatoes has dropped by 70 per cent within the period in view, falling from N120,000 to N35,000.
Garri prices have also eased, with a 4-litre paint container now selling for N2,000, compared to N3,500 it sold for in January 2025. A 60kg bag of garri now sells for N37,500. A bag of maize which sold for N80,000 in January, now sells between N60,000 and N70,000 depending on the grade and bargaining power.
According to the NationalWatch Tv survey, the price of groundnut oil has decreased. A 5-litre bottle of King’s oil that was sold for N23,000 in January can now be bought at N19,000. There was also a sharp reduction in the price of beans, which formerly sold for N105,000 in January but now sells for N80,000.
A 25-litre of palm-oil sold between N63,000 and N65,000, is now being sold for N45,000.
Further findings showed that 120 pieces of yam which was sold at N300,000 in January, now sells for about N180,000 to N200,000, depending on the type and sizes of the Yam, either Abuja Yam, Benue Yam, etc.
Onion prices have also dropped. It is now possible to buy six to 10 pieces of medium to big sizes of onion for N1000 as against three or four pieces at the same price three months ago at Kogi State International Market. A small bucket of sweet potatoes currently sells for N2,000, down from N6,000 it was in January, while Irish potatoes of similar size sell for N3,500 from N9,000 it was in January.
An analyst, Bashir Mohammed has attributed the fall of food prices in the country to the improved agricultural practices, favorable weather conditions, and government initiatives to boost food production which led to a surplus in food supply, causing prices to drop.
He further explained that lifting of the ban on food imports and the suspension of duties on some imported food items has drastically increased supply chain.
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