News Update
Food prices are beginning to drop in several parts of the country as the Christmas and New Year celebrations draw closer.
Items like rice, garri and yam, which went up after the removal of fuel subsidy and the rise in insecurity, are now cheaper in many markets visited.
In Imo State, checks at Relief and World Bank markets show a 50kg bag of rice now sells for N60,000, down from N75,000.
A 10kg gallon of garri has dropped from N7,600 to N5,000, while yam now goes for about N1,900 instead of N2,500.
Beans are also slightly cheaper, now at N30,000 per 50kg bag, down from N34,000.
In Lagos, traders at Mushin and Daleko markets confirmed that a 50kg bag of rice now sells for N54,000, compared to the N75,000 it was sold for recently.
In Delta State, food prices are fairly stable, though many buyers say they struggle to afford basic items.
A paint of tomatoes, which sold for N5,000 some months ago, now sells for N4,000.
Yam goes for between N1,800 and N2,000 per tuber, and garri remains around N3,000 per paint bucket.
Rice and beans have dropped a little, but livestock prices remain high.
Traders blame insecurity and poor road conditions for the high cost of transporting goods.
Markets in Bayelsa show mixed prices. While rice, beans and garri have reduced, yam, palm oil, meat and stockfish remain high.
Traders say the poor road network and long travel time from the North keep transport costs high.
A bag of beans has dropped by about N10,000, while some rice brands now sell between N63,000 and N75,000.
Palm oil prices, however, have gone up, and poultry farmers say feed costs make it hard to reduce prices.
In Benue State, the harvest season has pushed prices down, but insecurity continues to affect food supply.
Many farmers are displaced and now produce only enough for themselves.
Some say they cannot farm large quantities because of frequent attacks in farming communities.
A market survey in Sokoto shows a 50kg bag of foreign rice selling between N55,000 and N57,000, while a 100kg bag of local rice goes for N92,000.
The prices of garri, rice and beans, however, are beginning to rise again as the festive season approaches.
Traders complain of low patronage and fear losses.
In Anambra State, the prices of rice and beans have dropped compared to last year, but yam and red oil are more expensive.
A tuber of yam now costs about N2,700, up from N2,300 last year, and a 25-litre container of red oil now costs around N70,000.
In Plateau State, meat and fish prices have gone up, but grains are more affordable due to the new harvest.
Local rice, garri and beans are cheaper, though tomatoes and vegetable oil remain costly.
Some residents say the rising cost of food has made daily living difficult.
In Enugu State, a 50kg bag of rice sells between N125,000 and N130,000, while beans cost between N130,000 and N135,000.
Red oil also costs more, with 30 litres selling between N75,000 and N80,000.
In Ekiti State, some food items have dropped slightly in price, especially rice, beans and garri.
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A bag of foreign rice now goes for N67,000 and local rice for N52,000. Some farmers say transport costs prevent prices from dropping further.
Farmers in Niger State say floods, bandit attacks and the high cost of fertiliser are reducing production. Many farmlands were washed away, and insecurity has pushed farmers away from their homes.
In Yobe State, the drought has left crops dry and farmland damaged.
Farmers say the poor rainfall this year destroyed many of their crops, and some lost entire fields.
With insecurity in some areas, many farmers say the situation has become even harder.