Price increases
- Price increases were only observed in about 4 items on our list (see table below)
- We observed an over 400% increase in the price of oval-shaped tomatoes which rose from about N800 to N5,800 for a small basket. Our researchers inform us that the item has been scarce in the market for months now and only just became available a few weeks ago.
- They opine that the price of N800 was the last official price that we tracked, which was month’s ago when the item was available.
- Our sources inform us that pest related issues and wastage has made farming for tomato unprofitable thus the increases in prices to make some profit.
- Tomato prices are said to be cheaper around the last 3-4 months of the year and the first quarter of the year.
- For example, a small basket of round shaped tomato was about N2,700 in September of 2016 and about N3,400 in February this year. It now goes for about N7000 for a basket.
- We also observed significant increases in the price of a one big size tuber of yam, which went up 43% compared to two weeks ago. Prices rose from N700 to N1000
Price drops
- Significant price drops was recorded in about 9 items of which potato recorded the highest drop.
- A small basked of potato now cost about 23% less from two weeks ago at N500. A medium basket cost 17% less at N1000.
- A 12.5kg cylinder of gas now retails for about N4000 compared to about N4,500 two weeks ago. Gas prices have now dropped from about N5,500 earlier in the year.
- Relative price decreases were observed with Basmati rice, palm and vegetable oil items.
| Item | Brand | Unit | 17/09/2016 | 27/05/2017 | 10/06/2017 | % Change from base | % Change from 2 wks ago | Impact on Base | Location |
| Baby Milk | SMA Gold | 500g | 2,750.00 | 2,750.00 | 2,750.00 | 0 | 0 | Neutral | Ojuwoye Market |
| Baby Milk | NAN | 500g | 2,000.00 | 2,000.00 | 2,000.00 | 0 | 0 | Neutral | Ojuwoye Market |
| Bag of Beans | Oloyin | 50kg | 16,000.00 | 17,500.00 | 17,500.00 | 0.09 | 0 | Price Increase | Iddo Market |
| Bag of Beans | White | 50kg | 14,000.00 | 16,500.00 | 16,500.00 | 0.18 | 0 | Price Increase | Iddo Market |
| Bag of Beans | Brown | 50kg | 15,000.00 | 17,000.00 | 17,000.00 | 0.13 | 0 | Price Increase | Iddo Market |
| Bag of Flour | Dangote | 50kg | 11,000.00 | 11,200.00 | 11,200.00 | 0.02 | 0 | Price Increase | Aguda Market |
| Bag of Flour | Honey well | 50Kg | 11,000.00 | 11,200.00 | 11,200.00 | 0.02 | 0 | Price Increase | Aguda Market |
| Bag of Flour | Mama Gold | 50kg | 11,000.00 | 11,200.00 | 11,200.00 | 0.02 | 0 | Price Increase | Aguda Market |
| Bag of Garri | Ijebu | 80kg | 15,500.00 | 32,000.00 | 32,000.00 | 1.06 | 0 | Price Increase | Ago Ishaga Market |
| Bag of Garri | White | 50kg | 9,000.00 | 18,500.00 | 18,500.00 | 1.06 | 0 | Price Increase | Ago Ishaga Market |
| Bag of Garri | Yellow | 50kg | 9,000.00 | 17,800.00 | 18,000.00 | 1 | 0.01 | Price Increase | Ago Ishaga Market |
| Bag of Rice | Basmati | 5kg | 3,700.00 | 4,000.00 | 3,800.00 | 0.03 | -0.05 | Price Increase | Daleko Market |
| Bag of Rice | Mama Gold | 10kg | 3,500.00 | 3,500.00 | 3,500.00 | 0 | 0 | Price Increase | Daleko Market |
| Bag of Rice | Royal Stallion | 50Kg | 18,000.00 | 16,500.00 | 16,500.00 | -0.08 | 0 | Neutral | Daleko Market |
| Bag of Rice | Rice Master | 10kg | 3,500.00 | 3,500.00 | 3,500.00 | 0 | 0 | Price Increase | Daleko Market |
| Bag of Rice | Mama Gold | 50kg | 17,000.00 | 16,500.00 | 16,500.00 | -0.03 | 0 | Price Increase | Daleko Market |
| Bag of Rice | Caprice | 50kg | 17,000.00 | 16,500.00 | 16,500.00 | -0.03 | 0 | Price Increase | Daleko Market |
| Bag of Rice | Falcon | 25kg | 9,000.00 | 8,500.00 | 8,500.00 | -0.06 | 0 | Price Increase | Daleko Market |
| Bag of Rice | Ofada | 5kg | 2,100.00 | 3,000.00 | 3,000.00 | 0.43 | 0 | Price Increase | Ago Ishaga Market |
| Bag of Sugar | Dangote | 50kg | 15,000.00 | 19,800.00 | 19,800.00 | 0.32 | 0 | Price Increase | Aguda Market |
| Basket of Potato | Sweet | Big Basket | 800 | 400 | 400 | -0.5 | 0 | Price Reduction | Iddo Market |
| Basket of Potato | sweet | Small Basket | 500 | 200 | 200 | -0.6 | 0 | Price Reduction | Iddo Market |
| Basket of Potato | Irish | Big Basket | 3,600.00 | 2,400.00 | 2,200.00 | -0.39 | -0.08 | Price Reduction | Iddo Market |
| Basket of Potato | Irish | Medium Basket | 1,800.00 | 1,200.00 | 1,000.00 | -0.44 | -0.17 | Price Reduction | Iddo Market |
| Basket of Potato | Irish | Small Basket | 1,000.00 | 650 | 500 | -0.5 | -0.23 | Price Reduction | Iddo Market |
| Basket of Tomato | Oval Shaped | 1 Small Basket | 800 | 1,100.00 | 5,800.00 | 6.25 | 4.27 | Price Increase | Ago Ishaga Market |
| Basket of Tomato | Round Shaped | 1 Small Basket | 2,700.00 | 7,000.00 | 7,000.00 | 1.59 | 0 | Price Increase | Ago Ishaga Market |
| Bottled Water (Refill) | Cway | Refill | 500 | 550 | 550 | 0.1 | 0 | Price Increase | Ojuwoye Market |
| Bread | Val-U | 1 loaf | 300 | 300 | 300 | 0 | 0 | Neutral | Ojuwoye Market |
| Bread | Butterfield | 1 loaf | 280 | 280 | 280 | 0 | 0 | Neutral | Ojuwoye Market |
| Bunch of Plaintain | Plaintain | 1 Big Bunch | 800 | 1,200.00 | 1,200.00 | 0.5 | 0 | Price Increase | Idi-Oro Market |
| Carton of Noodles | Indomie | 120g | 2,900.00 | 2,900.00 | 2,900.00 | 0 | 0 | Neutral | Ojuwoye Market |
| Carton of Noodles | Indomie | 70g | 1,900.00 | 1,800.00 | 1,800.00 | -0.05 | 0 | Price Reduction | Ojuwoye Market |
| Carton of Noodles | Chikki | 100g | 1,800.00 | 2,100.00 | 2,100.00 | 0.17 | 0 | Price Increase | Ojuwoye Market |
| Carton of Noodles | Minimie | 70g | 1,500.00 | 1,700.00 | 1,700.00 | 0.13 | 0 | Price Increase | Ojuwoye Market |
| Carton of Noodles | Golden Penny | 70g | 1,500.00 | 1,750.00 | 1,750.00 | 0.17 | 0 | Price Increase | Ojuwoye Market |
| Cocoa Beverages | Milo (Tin) | 500g | 750 | 1,000.00 | 1,000.00 | 0.33 | 0 | Price Increase | Ojuwoye Market |
| Cocoa Beverages | Milo (Tin) | 900g | 1,400.00 | 1,900.00 | 1,900.00 | 0.36 | 0 | Price Increase | Ojuwoye Market |
| Cocoa Beverages | Milo Refill | 500g | 700 | 950 | 950 | 0.36 | 0 | Price Increase | Ojuwoye Market |
| Cocoa Beverages | Bournvita Refill | 500g | 700 | 850 | 850 | 0.21 | 0 | Price Increase | Ojuwoye Market |
| Cocoa Beverages | Bournvita (Plastic) | 500g | 750 | 950 | 950 | 0.27 | 0 | Price Increase | Ojuwoye Market |
| Cocoa Beverages | Bournvita (Plastic) | 900g | 1,300.00 | 1,600.00 | 1,600.00 | 0.23 | 0 | Price Increase | Ojuwoye Market |
| Cocoa Beverages | Ovaltine Refill | 500g | 700 | 850 | 850 | 0.21 | 0 | Price Increase | Ojuwoye Market |
| Cocoa Beverages | Ovaltine(Plastic) | 500g | 750 | 900 | 900 | 0.2 | 0 | Price Increase | Ojuwoye Market |
| Coffee | Nescafe Gold Blend | 100g | 1,300.00 | 1,600.00 | 1,600.00 | 0.23 | 0 | Price Increase | Ojuwoye Market |
| Coffee | Nescafe Classic | 50g | 400 | 550 | 550 | 0.38 | 0 | Price Increase | Ojuwoye Market |
| Egg | N/A | Crate | 1,200.00 | 1,100.00 | 1,100.00 | -0.08 | 0 | Price Reduction | Ojuwoye Market |
| Gallon of Palm Oil | Local | 5 Litres | 2,200.00 | 2,400.00 | 2,300.00 | 0.05 | -0.04 | Price Increase | Ago Ishaga Market |
| Gallon of Palm Oil | Local | 20 Litres | 10,000.00 | 10,600.00 | 9,200.00 | -0.08 | -0.13 | Price Reduction | Ago Ishaga Market |
| Gallon of Palm Oil | Local | 30 Litres | 14,200.00 | 15,800.00 | 13,800.00 | -0.03 | -0.13 | Price Reduction | Ago Ishaga Market |
| Gallon of Vegetable Oil | Local | 5 Litres | 2,400.00 | 2,500.00 | 2,400.00 | 0 | -0.04 | Neutral | Daleko Market |
| Gallon of Vegetable Oil | Local | 20 Litres | 11,800.00 | 11,200.00 | 14,700.00 | 0.25 | 0.31 | Price Increase | Daleko Market |
| Gallon of Vegetable Oil | Local | 30 Litres | 15,300.00 | 16,800.00 | 16,800.00 | 0.1 | 0 | Price Increase | Daleko Market |
| Gallon of Vegetable Oil | Kings | 5 Litres | 2,700.00 | 3,400.00 | 3,400.00 | 0.26 | 0 | Price Increase | Daleko Market |
| Gallon of Vegetable Oil | Wesson | 5 Litres | 3,500.00 | 4,500.00 | 4,500.00 | 0.29 | 0 | Price Increase | Daleko Market |
| Gallon of Vegetable Oil | Mamador | 3.8 Litres | 2,500.00 | 3,100.00 | 3,100.00 | 0.24 | 0 | Price Increase | Daleko Market |
| Gallon of Vegetable Oil | Power | 3 Litres | 2,000.00 | 2,500.00 | 2,500.00 | 0.25 | 0 | Price Increase | Daleko Market |
| Gas | Refilling | 12.5kg | 5,500.00 | 4,500.00 | 4,000.00 | -0.27 | -0.11 | Price Reduction | Aguda Market |
| Gas | Refilling | 5kg | 2,400.00 | 1,800.00 | 1,800.00 | -0.25 | 0 | Price Reduction | Aguda Market |
| Juice | 5 Alive | 1 litre | 300 | 400 | 400 | 0.33 | 0 | Price Increase | Ojuwoye Market |
| Juice | Chivita | 1 litre | 300 | 400 | 400 | 0.33 | 0 | Price Increase | Ojuwoye Market |
| Magarine | Blue Band | 450g | 450 | 450 | 450 | 0 | 0 | Neutral | Ojuwoye Market |
| Magarine | Simas | 250g | 200 | 180 | 180 | -0.1 | 0 | Price Reduction | Ojuwoye Market |
| Milk | Peak Powdered (Tin) | 400g | 850 | 1,150.00 | 1,150.00 | 0.35 | 0 | Price Increase | Ojuwoye Market |
| Milk | peak Powdered(Tin) | 900g | 1,500.00 | 1,900.00 | 1,900.00 | 0.27 | 0 | Price Increase | Ojuwoye Market |
| Milk | Peak milk (Refill) | 500g | 800 | 950 | 950 | 0.19 | 0 | Price Increase | Ojuwoye Market |
| Milk | Dano Powdered (Tin) | 500g | 800 | 900 | 900 | 0.13 | 0 | Price Increase | Ojuwoye Market |
| Milk | Dano Powdered(Tin) | 900g | 1,400.00 | 1,650.00 | 1,650.00 | 0.18 | 0 | Price Increase | Ojuwoye Market |
| Milk | Dano (Refill) | 500g | 600 | 800 | 800 | 0.33 | 0 | Price Increase | Ojuwoye Market |
| Milk | ThreeCrown (Refill) | 380g | 700 | 800 | 800 | 0.14 | 0 | Price Increase | Ojuwoye Market |
| Milk | Loya Powdered (Tin) | 400g | 700 | 800 | 800 | 0.14 | 0 | Price Increase | Ojuwoye Market |
| Milk | Loya (Refill) | 400g | 650 | 750 | 750 | 0.15 | 0 | Price Increase | Ojuwoye Market |
| Milk | Coast (Refill) | 500g | 600 | 700 | 700 | 0.17 | 0 | Price Increase | Ojuwoye Market |
| Packet of Pasta | Golden Penny | 500g | 190 | 200 | 200 | 0.05 | 0 | Price Increase | Ojuwoye Market |
| Packet of Pasta | Dangote | 500g | 190 | 200 | 200 | 0.05 | 0 | Price Increase | Ojuwoye Market |
| Packet of Pasta | Power | 500g | 190 | 200 | 200 | 0.05 | 0 | Price Increase | Ojuwoye Market |
| Packet of Pasta | Bonita | 500g | 250 | 250 | 250 | 0 | 0 | Neutral | Ojuwoye Market |
| Percentage average | 325,230.00 | 381,320.00 | 385,370.00 | 0.18 | 0.01 | ||||
| Sugar | St’ Loius Sugar(Cube) | 500g | 380 | 400 | 400 | 0.05 | 0 | Price Increase | Ojuwoye Market |
| Sugar | Golden Penny Sugar (cube) | 500g | 250 | 300 | 300 | 0.2 | 0 | Price Increase | Ojuwoye Market |
| Tea | Lipton Yellow label | 52g | 180 | 220 | 220 | 0.22 | 0 | Price Increase | Ojuwoye Market |
| Tea | Top tea | 52g | 170 | 190 | 190 | 0.12 | 0 | Price Increase | Ojuwoye Market |
| Tuber of Yam | Abjuja | 1 Big Size Tuber | 900 | 700 | 1,000.00 | 0.11 | 0.43 | Price Reduction | Iddo Market |
| Tuber of Yam | Abuja | 1 Small Size Tuber | 500 | 500 | 700 | 0.4 | 0.4 | Price Reduction | Iddo Market |
(NAIRAMETRICS)
