NAIJ weekly price check: Price of beans rises to N34,000 as recession bites harder (photos)

– The prices of commodities and goods continue to increase in various markets across the country

– Traders are currently groaning due to the low patronage occasioned by the recess in the nation’s economy


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– Buyers complained about the inflation of various food items, which is taking a toll on their salaries.

– A survey conducted by at Ojota market and Mile 12 markets, reveals the continuous rise in the price of goods and low patronage experienced by traders

For the average Nigerian, life has become unbearable as the basic necessities of life can no longer be afforded. Traders are currently groaning due to the low patronage occasioned by the recess in the nation’s economy.

Buyers complained about the inflation of various food items, which is taking a toll on their salaries.

Prices of goods, especially consumables goods continue to rise daily. Traders attribute this to poor earnings, low profile margin, increase in pump price of petrol, exchange rate, among others.

Check 1

Traders aren’t happy with the present inflation in the market. Photo: Esther Odili

A bag of rice now sells at N19,000 as against N10,000 to N12,000 it was selling earlier this year.

The prices of other main staples like garri, vegetable, plantain, groundnut-oil, beans, kerosene and household items have also gone haywire in the market.

Buyers attribute this to the present economic situation and the devaluation of naira, owing to the fact that it affects their purchasing power.

A trader at the market, Vincent, who sells wares and shoes, attributed the hike in prices of goods to the present economic situation.

According to him, the present administration is not to be blamed on the hardship posed to Nigerians, Buhari met a dead economy.

Check 4

Even meat sellers are unhappy with the turn of events in the country over the present economic recession. Photo: Esther Odili.

“The present administration is not to be blamed for the hardship most Nigerians are facing now. Buhari met a dead economy. The economy is worse. We know things will turn-out this way, why then are we complaining.

“For us the traders in the market, we record loss. There is no market. Before, when five customers come to purchase wares, at least three will buy end up buying but now the reverse is the case. You might shade your wares all day, and not make sales for that day. We do not make profit at all. We just come out to display our wares.

“Right now, my wares are not too expensive, but the present economy has affected the customers, as they no longer buy what they set out for in the market. As cheap as the wares are, some cannot afford the wares. Because they come complaining.

“When you give them a fixed price, they end up pleading for a reduced amount which favours them at our own risk. There is hardship in the land. We are managing. Patronage is bad,” he stated emphatically.

A meat seller, simply identified as Alabi, also said that the downturn in the economy has affected their purchase lately. The price of meat, according to him, has skyrocketed incredibly.

He said: “What we are experiencing now is aching. Meat is very expensive now. Before we make buy and make gains, but now we buy and record loss. Right now we are surviving by the grace of God. If we are not careful, after purchase we end up in debt. Buyers do not have enough money to spend. Right now, my colleagues only survive by engaging in menial jobs like carpentry, bus conductor and even bricklaying.

Check 2

Prices of other staple food items have also added up. Photo: Esther Odili.

“We that are standing before you, are not making sales at all. We just come out so we will not be idle. Patronage is encouraging but the challenge is that we record low sales. The money spent in purchasing the cows is not gotten.

“We are hopeful things will return to normalcy. There is no fixed price for cows now. The prices are influenced by its sizes. The prices ranges from N80,000, N100,000 upwards. But when we purchase the cow, we sometimes end up in debt. We are just hopeful.”

Meanwhile a trader who deals in chemical has a different view to the increase in the price of goods generally in the market.

The woman who spoke with on the condition of anonymity, said: “Everything is expensive in the market now. The present administration is confused. The way things are, led to the rise in the prices of various items in the market. What do you expect, when we have expensive goods to sell and there are no buyers, we tend to make loss. The ones who come to patronize us, when they purchase the chemicals for making soaps and detergents, they come back complaining and not making profit. Instead of profit, it is shortage at the end of the day.

“For soaps, chemical, a 25-litre was sold for N3,000 but now N3,000. And a 50-litre is sold for N5,000 but before it costs N4,000. For Izal, a 5-litre costs N2,400 before but now, it costs N3,300. The price of the chemicals and other things continues to rise daily, it is worrisome.”

Most of the commodities consumed and sold in the local markets are imported from the neighbouring countries and the traders have complained of incurring losses in transporting the commodities due to poor roads and high cost of fuel including the scarcity of the dollar.

Sylvester, a trader in the market who sells rice, beans, garri and maize says the increase in the price the food items is as a result of the northerners influence, exchange rate and ban placed on importation.

“The northerners have refused to release new beans to sellers. They insist on selling the old one first rather than the new one, this thereby leads to the increase in the price of beans. For rice, the ban placed on the importation of rice in Nigeria. Not leaving out the rise in dollar.

“A bag of beans now costs N34,000 while Oloyin and Niiger beans ranges from N20,0000- N30,000. A bag of rice, ranges from N18,000 and above depending on the type and location of the market. Meanwhile, a bag of garri now sells from N9,500 – N10,000. For white garri, a bag of garri costs N9,500 while that of red garri costs N10,000,” the fair-skinned Igbo boy was quoted to have said.

A tomato seller, Iya Toyosi, who also lent her voice on the prevailing issue, noted that the present economic condition of the country led to the increase in the price of tomatoes, pepper and onion.

“The price fluctuates daily. The present economy and situation in Nigeria led to them increase of the perishable items. Buyers patronize us, but they do not buy as usual. With the type of goods we sell, if one does not sell it on time, it will get spoilt and then we will record loss. This is why we sell at a reduced price, so we can go and buy a fresh one.

“A basket of Hausa tomatoes now sells from N5,000 and above, while a basket of pepper costs N 7,000 upwards. The price of Onion as not drop. A basket of new onion costs N24,000 while that of old onion costs N38,000. Rotten tomatoes (esha), onion and pepper, are sold at a cheap rate but the fresh ones are expensive,” she explained.

Iyke, a foodstuff dealer who sells egusi, ogbono, crayfish and groundnut at the market, laments on low patronage and non-profit after purchase of the foodstuff.

He said: “The way things are moving now is not encouraging at all. There is an increase in ogbono. Before we buy a bag of ogbono at the rate of N30,000-N50,000. But now, due to the exchange rate, we buy ogbono in Cameroun, Ghana and Togo. The cost of transportation led to its increase. A bag of ogbono now ranges from N85,000, N95,00- N110,000.

“Inflation led to the increase of egusi. A bag of egusi before costs N20,000 but now Nit ranges from N30,000 and above. For groundnut, a plastic (Paint) before costs N800 but now it costs N1000. While the price of a bag of groundnut varies and is influenced by the size of the bag.

“Before a bag of groundnut costs N20,000 and below but now it costs N30,000. And for crayfish, when the ocean increases, the price increases. When the ocean comes down, the price reduces. Now due to the floods in some part of the country, the price of crayfish has increased. A big nylon (Patala) of crayfish, before ranges from N7,000- N8,000 and now it costs N12,000 upwards. Patronage is very low.

“People are complaining seriously. And often times, we beg customers to patronize us. Things are very very hard now. Prices of all sorts of commodities in the region could even go higher in the coming days as the festive season is approaching.”


Before         Now


Aroso/special N19,000       N19,500
Agric N17,500             N18,500

Beans(Normal bag):
Olotu N15,000             N35,000
Oloyin N18,000           N20,000
White beans N17,000       N23,000

White N8,500 N9,500
Red N9,500 N10,000

A bag of egusi N20,000 N30,000
A bag of ogbono N85,000 N95,000
A big nylon of crayfish N12,000 N8,000
A bag of groundnut N20,000 N30,000

25-litre-of groundnut oil N13,500 N15,000
25-litre of palm oil N12,500 N14,000

Perishable goods
A basket of hausa tomato N5,000 N7,000
A basket of pepper N7,000 N8,000
A big bag of new onion N23,000 N24,000
A big bag old onion N35,000 N38,000

Sausage roll/ table water/drink
A carton of beefie meat pie N1,000 N1,100
A carton of small Gala N1,100 N1,200
A carton of big Gala N4,000 N4,200
A pack of Eva water(small) N600 N700
A pack of Plastic maltina N2,400 N2,600
A pack of plastic maltina N1,200 N1,300
A pack of Cway drink N1,000 N1,100

The post NAIJ weekly price check: Price of beans rises to N34,000 as recession bites harder (photos) appeared first on Nigeria News today & Breaking news | Read 24/7.

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