Abuja: Prices of food items are gradually dropping in the Federal Capital Territory (FCT) markets and environs, a News Agency of Nigeria (NAN) survey reveals. The survey highlights that the prices of essential commodities such as onions, beans, and rice are seeing a decline, though prices for some items like yams and plantains have increased.

According to News Agency of Nigeria, the survey conducted across various markets in the FCT indicates a variation in prices depending on the market and its location. The analysis shows that food prices tend to be higher in city center markets compared to those in satellite towns. At Kado Market, for instance, the price of a 50kg bag of rice has reduced from N97,000-N100,000 in January to N87,000, while a 25kg bag that previously sold for N45,000-N50,000 is now available at N43,500, brand dependent.

In Garki Market, situated at the city center, a 50kg bag of rice now costs between N81,000 and N83,000, down from N92,000 in January. Similarly, a 25kg bag is now priced bet
ween N42,000 and N43,000, compared to N45,000 earlier this year. Meanwhile, Nyanya Market in the satellite town offers a 50kg bag of rice for N70,000-N83,000, a decrease from the January price range of N90,000-N93,000.

The survey further reveals that at Apo Fish Market, the price of a 50kg bag of rice has dropped from N105,000 to N93,000. On the Abuja-Keffi Expressway’s Orange Market, a bag of onions has seen a significant price reduction, from N90,000-N100,000 in January to N50,000-N55,000. Garki Market has also seen a notable decrease in onion prices, now selling for N55,000-N60,000 compared to N180,000-N200,000 in January.

In Karu Market, located in an FCT satellite town, Bendel (yellow) garri prices have slightly decreased, now selling at N55,000 compared to N57,000-N60,000 in January. Nyanya Market reports a reduction in red oil prices, with a 25-liter keg now going for N50,000-N55,000, down from N75,000-N83,000. Apo Fish Market shows a decrease in groundnut oil prices, with a 25-liter Terra groundnut
oil dropping from N88,000 to N84,000, and a four-liter keg now priced at N15,500, previously between N17,500 and N20,000.

Moreover, a big bag of white beans at Kado Market has dropped significantly from N200,000-N150,000 to N115,000-N120,000. A mudu of white beans, previously sold for N2,100-N2,300 in January, is now available for N1,700-N1,800. At Orozo Market, a mudu of brown beans has decreased from N2,200-N2,800 to N1,800-N2,000.

However, the report notes an increase in prices for certain items. At Wuse Market, five pieces of medium-sized yams, previously N8,000-N10,000, are now N15,000. Similarly, Lugbe and Orozo Markets report the same size yams increasing from N6,000-N7,000 to N10,000. Plantain prices have also surged, with a bunch now costing N8,000-N9,000, up from N6,000. Additionally, a big bag of pepper has increased to N73,000 from the January price of N31,000, and a big basket of shombo is now N36,000, compared to N30,000 earlier this year.

Mrs. Amina Suleiman, a mother of four, expressed that
while the drop in prices is welcomed, it is not yet substantial enough to make a significant impact. She emphasized the need for improved security, infrastructure, and incentives for farmers to further decrease production costs, thereby reducing food prices for Nigerians.

Mr. Albert Okoro, a rice wholesaler in Garki Market, attributed the drop in prices to a slight reduction in fuel prices.