Nigerians are optimistic that the recent reduction in petrol prices across the country will lead to a drop in the cost of foodstuffs as the festive season approaches.
The price of Premium Motor Spirit, commonly known as petrol, reportedly dropped by ₦36 per litre in the last week, offering a glimmer of hope to consumers burdened by rising costs of goods and services.
Petrol prices directly impact transportation costs, which constitute a significant portion of the expenses incurred in moving food items from farms to markets.
With reduced transport costs, many Nigerians are hopeful that traders will transfer the benefits of cheaper logistics to consumers by lowering food prices.
As the festive season draws near, markets across Nigeria are bustling with activities. However, traders and consumers alike are still waiting to see if the petrol price reduction will reflect on staple food prices such as rice, beans, yam, and tomatoes.
Here is the price of major food commodities this week:
Price Of Bag Of Rice
Vitally 50kg Long Grain Bag of Rice - ₦95,000
Parexcellence Premium Parboiled Rice Half Bag - ₦85,000
My Choice Bag of Rice - ₦96,000
25kg Bag of Rice - ₦47,500
Price Of Bag Of Beans
Sweet Pure Butter Beans 50kg - ₦160,000
Brown Beans 50kg From Maiduguri - ₦90,000
A Rubber of Brown Beans - ₦7,500
Peeled Dried Honey Beans/ Beans Flour - ₦15,000
Clean Hand Picked Oloyin Beans (Honey Beans) 50kg - ₦175,000
Chad Sweet Brown Beans (50kg) - ₦90,000
Soyabeans Very Dried - ₦130,000
Peleed Beans for Moi Moi 20kg - ₦80,000
Neat and Picked Pure Oloyin Sweet Beans 2.5kg - ₦8,500
Price Of Bag Of Garri
One Paint Of Garri - ₦3,900
Bag Of Garri 50kg - ₦45,000
Garri (Garri Ijebu) - ₦70,000
100 kg Bag of Garri - ₦100,000
Tomatoes
Fresh derica tomatoes Big basket - ₦180,000
Fresh Tomatoes Basket - ₦55,000
Royal Sun Plum Tomatoes By 24 Cans - ₦32,000
Price Of Spaghetti
Golden Penny Spaghetti (500g × 20) cartoon - ₦28,000
Price Of Palm Oil
5 litre gallon - ₦7,500
25 litre gallon - ₦45,500
Onions
One bag - ₦180,000
Irish Potatoes
One Basket - ₦75,000
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