Beans Prices Drop in Nigeria: See How Much Oloyin, Drum Varieties Now Cost
- Beans prices recorded a mixed trend in September 2026, with three of the four categories tracked falling compared with August
- Oloyin beans by the derica recorded the biggest decline, while Drum beans by the derica fell by 5.4% from N925 to N875
- However, Drum beans by the paint increased slightly from N4,433.75 to N4,440, while Oloyin beans by the paint dropped from N4,942.50 to N4,885
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Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
The price of beans recorded a mixed movement in September 2026, with three of the four bean categories tracked falling compared with their August prices.
The figures show that consumers buying Oloyin beans and Drum beans by the derica enjoyed the biggest price reductions during the month, while the price of Oloyin beans sold by the paint also declined slightly.
Source: UGC
However, the price of Drum beans by the paint increased marginally, showing that the downward movement was not uniform across all varieties and measurements.
Oloyin beans lead price decline
Oloyin beans recorded a noticeable reduction in price between August and September.
A 3.3kg paint of Oloyin beans fell from N4,942.50 in August to N4,885 in September, representing a reduction of N57.50, or about 1.2%.
The decline was more significant when measured by derica. The price of 0.65kg of Oloyin beans dropped from N1,032.12 in August to N969.44 in September.
This represents a reduction of N62.68, or about 6.1%, making Oloyin beans by derica the biggest percentage fall among the four categories in the table.
For consumers, the reduction means that buying smaller quantities of Oloyin beans became relatively cheaper in September, although the difference in the price of a full paint was much smaller.
Drum beans show mixed movement
Drum beans also recorded a significant fall when sold by the derica.
The price of 0.65kg, or one derica, dropped from N925 in August to N875 in September, representing a N50 reduction or 5.4%.
However, the trend was different for consumers buying a full paint.
A 3.3kg paint of Drum beans increased slightly from N4,433.75 in August to N4,440 in September. The increase of just N6.25 represents about 0.1%, indicating that the price was virtually stable rather than experiencing a major increase.
This means that while three of the four categories recorded price declines, the movement in the beans market cannot be described as a broad-based price crash.
What the new prices mean for consumers
Overall, the September figures point to a modest easing in beans prices, particularly for consumers who purchase beans in smaller quantities.
Of the four categories, Oloyin beans by the derica recorded the largest decline at 6.1%, followed by Drum beans by the derica at 5.4%. Oloyin beans by the paint declined by 1.2%, while Drum beans by the paint edged up by only 0.1%.
Source: Getty Images
The figures suggest that September brought some relief to households that rely on beans as a regular source of protein. However, the relatively small movement in paint prices shows that consumers should not expect a dramatic reduction in the cost of buying beans in bulk.
Broader market data also showed that food prices generally eased across several Lagos markets in September, although some commodities continued to rise.
Dealers announce new rice prices
In related news, Legit.ng earlier reported on rice prices in Nigeria, which declined across wide varieties and package sizes between August and September 2026.
Imported long-grain rice saw the steepest drop, with its 25kg price falling by 6% in a month. The declines come as the cost of cooking jollof rice for a family of five has climbed to nearly N30,000.
Source: Legit.ng
