Food prices across major markets in Lagos recorded a significant increase in March 2026, as higher petrol costs pushed up transportation expenses and triggered widespread rises in the cost of staple commodities.
A market survey tracking 68 food items across Mushin, Daleko, Mile 12 and Oyingbo markets showed a broad-based increase in prices, reversing the marginal easing recorded in February. The latest data points to renewed inflationary pressure across both perishable and non-perishable goods.
Brandspur Banking News Desk reports that the surge in fuel prices played a central role in the upward trend, as petrol pump prices climbed from N875 to N960 per litre during the period, while refinery pricing adjustments also contributed to higher logistics costs.
The Lagos market environment, which relies heavily on the transportation of goods from other regions, was particularly affected. Traders and transport operators reported that increased haulage charges were quickly passed down the supply chain, directly impacting retail food prices.
According to the survey, 43 items recorded price increases in March, compared to 23 items in the previous month, while only 13 items saw price reductions. Another 12 items remained unchanged, indicating limited stability in the market.
Staple food items experienced some of the steepest increases. Pepper prices surged sharply, with a medium bag rising from N32,000 to N80,000, while a larger bag increased from N58,000 to N140,000. Tomatoes also recorded notable gains, with big baskets moving from N40,000 to N60,000, and oval varieties rising from N25,000 to N35,000.
Beans prices climbed significantly as well. Brown beans (50kg) increased from N50,000 to N85,500, while Oloyin beans rose from N45,000 to N75,000. Larger bag variants also saw substantial upward movement, reflecting tightening supply conditions and higher distribution costs.
Fish prices were not left out of the surge, with Kote rising from N5,000 to N8,500 per kilogram and Titus increasing from N7,000 to N9,500. Other items such as yam flour, onions, cooking oil, and fresh produce also recorded moderate increases across different categories.
Market participants attributed the price escalation to a combination of fuel-driven logistics costs, seasonal supply shortages, and reduced inflows of goods from northern farming regions. Traders noted that rising transportation charges were quickly reflected in wholesale and retail pricing.
Despite the general increase, a few commodities experienced price declines, particularly wheat-based products and select grains. Items such as semovita, garri, rice, and some wheat flour brands recorded modest reductions, although these declines were not sufficient to offset the broader upward trend.
Consumer sentiment remains under pressure as households grapple with higher living costs. Buyers and sellers alike reported reduced purchasing power, with traders expressing concerns about balancing profit margins against declining demand.
Overall, the March 2026 market survey highlights the continued sensitivity of Lagos food prices to fuel costs and transportation dynamics, underscoring the persistent challenges of inflation in Nigeria’s largest consumption hub
