In recent weeks, Nigerian markets have witnessed a significant drop in the prices of key food items, a development that has brought relief to many households. This trend is largely attributed to the current harvest season, which has led to a surge in the supply of fresh produce such as yams, pepper, and potatoes.
Farmers and traders alike have spoken out about the factors driving this decline in prices. Chidike Ukoh, National Secretary of the National Fish Association of Nigeria (NFAN), noted that while prices are indeed falling, the purchasing power of many Nigerians remains weak. “The prices of some food items are coming down, but most people still struggle to afford them due to low income,” Ukoh explained.
Lizzy Igbine, National President of the Nigeria Women Agro Allied Farmers Association, echoed this sentiment. She emphasized that the drop in prices is a natural result of the harvest season. “Now that we are harvesting our crops, the prices will naturally come down. We are seeing new potatoes, onions, and yams in the markets at lower prices,” she said.
However, despite the reduced prices, many traders report that sales have not significantly increased. Babangida Yakubu, a yam seller at the Nyanya market in Abuja, expressed his concerns about low patronage. He called on the government to implement the new minimum wage, stating that, “My customers often complain of ‘no money’ when I call them to buy. If the government and private sector could increase salaries, more people would be able to afford what they need.”
On the consumer side, Nkechi Aboh, a regular market-goer, praised both the government and farmers for their efforts in reducing food prices. She pointed out that, while some items remain costly, the situation has improved compared to a month ago. “A small basket of tomatoes that previously sold for ₦15,000 is now between ₦2,500 and ₦3,500. This is a huge relief for families like mine who prefer fresh produce over canned alternatives,” Aboh shared.
She also suggested that the government support initiatives aimed at preserving perishable goods, such as using dehydrators to convert tomatoes into powdered form, which could help stabilize prices even after the harvest season.
Despite these positive changes, the prices of some staples like garri, rice, onions, maize, millet, and beans remain high. For instance, a small basket of onions that used to cost ₦3,000 now sells for between ₦4,000 and ₦4,500. Similarly, the price of five tubers of yam has dropped from ₦25,000-₦28,000 to ₦15,000, while a small basket of pepper has decreased from ₦15,000-₦10,000 to ₦6,000-₦5,500.
As the harvest season progresses, it remains to be seen how long these price reductions will last and whether they will lead to increased purchasing power for Nigerian consumers. Farmers and traders are hopeful, but they also recognize the need for broader economic measures to ensure that the benefits of these lower prices are felt by all.
