Dealers Hike Crayfish Prices in Lagos, Other Nigerian States, Consumers Lament

• Crayfish dealers have announced an increase in prices, reaching as high as 150%, citing scarcity as the reason
• Findings show that a paint bucket of crayfish has risen from N4,000 to N5,000 in early 2024 now sells for between N12,500 and N14,000.
• The dealers disclosed that the seafood is currently off-season, accounting for the reason for high price

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

Crayfish prices have risen in major markets in Lagos, causing consumers to resort to rationing the popular seafood.

According to a survey by the New Agency of Nigeria, a paint bucket of crayfish has risen from N4,000 to N5,000 in early 2024 now sells for between N12,500 and N14,000.

Also, a measurement previously sold for N4,000 now sells for between N75,000 to N80,000, respectively.

Traders and consumers express concern

According to the report, a cup of crayfish now sells for between N3,000 and N4,000, and a basket of crayfish currently goes for between N260,000 and N350,000.

The traders and consumers expressed concerns over the hike, saying that the seafood is expensive because it is off-season, which affects quality and quantity, with sparsely filled bags.

The NAN report quoted the treasurer of Oyingbo Foodstuff Market Association, Abigail Onu, as saying that the high cost was due to its off-peak period.

Onu disclosed that the hike in price is not new, as it happens annually, because it is a seasonal seafood.

Crayfish is off-season 

Other traders highlighted poor storage as the reason the product does not last in the market.

She revealed that traders are cautious with supplies to avoid rot.

Meanwhile, consumers have lamented the high cost of the staple, saying that they have to reduce the quantity they purchase because of its high price.

The NAN report says Nigerians see crayfish as not just an ingredient but an essential flavour in the meals.

Crayfish can be prepared whole or in powder form, elevating the most basic meal into a wholesome experience.

It is valued in dishes such as egusi soup, other soup varieties, and jollof rice.

Food inflation drops

The development comes as food prices have crashed in Nigeria, with the National Bureau of Statistics (NBS) saying that food inflation has reduced to 23.71% in April 2025.

The statistics body announced this on Thursday, April 15, 2025, when it released the April 2025 inflation data.

The NBS said that the movement for the review period showed a 0.52% decline relative to the March 2025 inflation figure.

Every month, the inflation rate in April 2024 was 1.86%, representing 2.04% lower than the rate recorded in March 2025 at 3.90%.

 Prices of food items crash by 40%

Legit.ng earlier reported that grain hoarders are crying over a 40% dip in food costs between December 2024 and March 2025.

Many traders bought grains in December for storage, hoping to sell at higher prices from February to March.

However, grain prices have continued to plummet as a 50kg bag of beans sold between N100,000 and N140,000 has crashed to N75,000 and N85,000.

Source: Legit.ng