Business National News

Yuletide: Lagos Residents Groan As Food Prices Soar

By Enitan Isiaka

Lagos residents have continued to groan over the high cost of food in the state as the yuletide period approaches.

Food items that were bought at low cost before the yuletide have soared now that the celebrations draw closer.

A visit by our reporter to some of the markets around show that prices of rice, beans, pepper, red oil and groundnut oil and other good products have gone higher than the previous weeks’ prices.

A bag of local rice which sells for between 22,000 to 24,000 now sell at between 25,000 and 28,000 while that of foreign goes for 30,000 to 32,000 per bag.

A retailed marketer, Mrs Esther Adeola, at the Ijesha market, gave an account of how the market system had been poor lately and how those in the market have been experiencing low patronage as a result of the bad state of the country’s economy at present.

“All goods now increase in price monthly” you can’t buy a Kg of semo for #250 and expect to meet it at that same price the following month, this increase affects the marketing system as few people will consume such goods.

“We have continued to record low patronage, people complain of no money to buy things for this year’s Christmas,” she said.
The marketer continued, the price of the PMS also has a great impact on the increase of market goods, the lower the price of petroleum, the lower the price of things in the market, but the higher the price the more increase in the price of things in the market”.

Saying no business that does not deal with transportation, as it is necessary for the transfer of goods from one place to another to aid easy consumption.


The retailer in her conclusion said things now cost double the initial price ever since the outbreak of the Covid-19 disease.

A customer, who simply identified herself as Mama Chioma in the market who spoke with our reporter lamented the high cost of goods blaming the government for the poor state of the economy.

“This is too exorbitant, goods were never these costly in the previous months, but now they are triple of the prices we buy somethings in the last month. The government is not doing enough, the economy is bad, worst still, there is no money to buy all these items needed for the Christmas period” she said.

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