The prices of key food items including frozen fish, pepper, and tomatoes have surged by more than 100% in major markets across Lagos, placing additional strain on household budgets and raising concerns about food affordability in the state.
Market surveys revealed that a carton of frozen fish, which previously sold for around N27,000, now sells for as much as N34,000 to N38,000, depending on the brand and location. Retailers have also increased prices, with a single piece of fish now going for between N2,000 and N3,000, compared to about N1,200 just weeks ago.
Similarly, the prices of tomatoes and pepper have seen significant hikes. A medium-sized basket of tomatoes that was recently sold for N40,000 now ranges between N80,000 and N85,000, while a bag of pepper has increased from N30,000 to as much as N70,000. Traders attributed the spike to seasonal scarcity, rising transportation costs, and supply disruptions from the northern parts of the country.
According to sellers in Mile 12 and Oyingbo markets, the price fluctuations have affected both wholesale and retail levels, with many buyers now reducing their purchases or seeking cheaper alternatives. Some traders expressed concern that continued increases could further slow down business activity as demand declines.
Consumers, particularly low-income earners, are feeling the pressure as food expenses take up a larger portion of household income. Many residents have called for government intervention to stabilize prices and address logistical challenges contributing to the rising cost of food.
