Multiple Nigerian markets experienced substantial price reductions for their staple foods during November because of enhanced crop production, improved distribution networks, and decreasing inflation rates. The market research conducted in various states showed that prices for essential food items, including rice, bean, garri, vegetables, and poultry products, experienced substantial decreases. The following list shows the ten food products that experienced the greatest price decreases throughout November.
Rice prices decreased by ₦25,000 for a 50 kg bag which now costs ₦65,000.
The price of brown/“Oloyin” beans decreased to ₦60,000 from its previous value of ₦70,000.
The price of “kongo” decreased to ₦500 from ₦1,800 while a complete bag of garri became cheaper to ₦28,000 from ₦40,000.
The price of Groundnut/Vegetable Oil decreased to ₦13,000 for a 5-liter gallon from its previous value of ₦16,000.
The market prices for yams became more affordable when large tubers decreased from ₦2,500 to ₦1,800 in specific markets.
The price of tomatoes decreased to ₦35,000 per basket from its previous value of ₦40,000.
The price of Scotch Bonnet peppers decreased to ₦500 from its previous value of ₦1,500 for a small bucket.
The prices of onions decreased throughout multiple states while a bag of onions became cheaper to ₦35,000 from ₦45,000.
The average price of chicken in retail stores decreased to ₦10,000 from its previous value of ₦12,000 per bird.
The prices of imported wheat and maize decreased in Nigeria because global market indices decreased by 1%–2.5% which reduced local market pressure.
