Fuel Price Hike: See 4 Most Expensive Food Items Under Tinubu’s Economy

The fuel price hike occasioned by the fuel subsidy removal has led to the increment in the cost price of major goods in the markets across Nigeria.

The cost of basic food items is also not left out in the development as their cost price has increased drastically leading to a drop in the purchasing power of buyers and a reduction in the profit margin of traders.

In view of the above assertion, this article presents a list of the top three food items whose cost prices have increased in the popular market.

1. Rice

At the market this month, the cost price of rice increased from N35,000 to N41, upwards. This is both the Nigerian local rice and the foreign rice. The local rice that contains stone and is not really neat sells from N35,000 and below.

2. Ogbono

A trader selling foodstuff items at the market and has been in the business for over ten years said, that a bag of “new ogbono” sells for N120,000 while the “old ogbono” is scarce and a bag sells from N200,000 and N210,000 upwards depending on the market visited and the seller’s choice.

3. Egusi

The cost price of egusi has become very expensive in major markets across Lagos state. A bag of egusi according to sellers at Mile 12 market, cost N180,000 and some sell from N190,000 upwards. This is the cost price offered by suppliers in major markets at wholesale price.

4. Tomatoes

At the moment, tomatoes is the new gold in Lagos market. The produce is very expensive and it’s giving buyers as well as sellers a run for their money. A full basket of tomatoes (Bawa) is sold from N40,000 and N50,000 while the other tomatoes that is watery, a basket is sold from N25,000 and below.

The reason why tomatoes is expensive at this period is due to the season (rain); from the dry season, a basket will be sold from N10,000 and below.

Conclusion:

It is important to note that other goods are expensive in the market during this period but the goods listed above have become way expensive beyond the imagination of the traders and buyers.