Prices of foodstuff crash in Lagos ahead of Christmas

Prices of foodstuff crash in Lagos ahead of Christmas

- The report followed a survey of some popular markets in Lagos state where foodstuff are sold

- It compared the current prices of the foodstuff with how much they were previously sold for

- A member of an association in one of the markets advised the various tiers of government while revealing why the situation was like that

The prices of tomatoes, pepper and onions have reduced by about 45 percent in Lagos, a report by the News Agency of Nigeria (NAN) has indicated.

The report said checks of prices at the Mile 12, Whitesand, Iddo and Oko Oba markets in the state on Monday, December 11, revealed that the drop was due to bumper harvest of agricultural produce.

The report further stated that a basket of tomatoes, previously sold for N15,000 now goes for N8,000 while red pepper (tatashe) now cost N8,000 compared to its previous price of N14,000 a basket.

Also, a basket of chilli pepper (rodo) dropped from N18,000 to N10,000 and a jute bag of onions, previously costing N30,000, now goes for N20,000.

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Furthermore, a 25-litre of vegetable oil, which was earlier sold for N11,500, now cost N10,700, palm oil decreased from N11,000 to N10, 300, while a measure of garri now cost N400.

The report however stated that the price of a 50 kilogramme bag of rice ranged between N13,500 to N17,000, depending on the brand while a measure of beans cost N1,500.

The spokesperson for the Mile 12 Market Traders Association, Femi Odusanya, attributed the price drop to the ongoing harvest season for most of the produce.

He said: “Over 20 percent of the annual four million metric tonnes of tomatoes produced in the country is supplied to Mile 12 Market annually and redistributed to over 400 markets in Lagos and Ogun state and six ECOWAS countries.

“About 200, 000 metric tonnes of the 800,000 metric tonnes of tomatoes annually supplied to Mile 12 Market get wasted due to postharvest losses.

“Presently, the supply of the produce is more than the demand because farmers commenced harvest in December and there would be surplus in the market till April when the harvest season would end.

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“That is why we have been advocating for increased investment in tomato processing plant to mop up the excess and reduce waste, create jobs and increase contribution to Gross Domestic Product (GDP),” Odusanya said.

He urged the federal, state and local governments to create an enabling environment toward attracting more investors to tomato processing in the country.

Legit.ng earlier reported how Governor Akinwunmi Ambode of Lagos broke a record in the history of governance in the state on December 11, as he presented a budget estimate of N1.046 trillion to members of the House of Assembly.

Ambode, who christened it 'budget of progress and development, said his government would concentrate on completing all ongoing projects in the state while maintaining stability and boosting the economy of the state.

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Source: Legit.ng

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