Joy as tomato prices crash in Lagos, sells for ₦7,000 per medium basket

Food vendors in Lagos rejoiced Tuesday morning upon discovering a significant drop in the prices of tomatoes and peppers.

At the popular Ile-Epo market, a hub for foodstuffs in Lagos West, a medium basket of tomatoes now sells for ₦7,000, while a bag of round pepper (ata rodo) is priced at ₦80,000.

‘Tutu Olayinka, a food vendor, expressed her elation to Animal Times Africa about the returning affordability.

“It’s surprising to find a basket of tomatoes at ₦10,000 today in the market where we have been buying it several times more in recent months. It even went as high as ₦100,000 or more in some places,” she said.

The restaurant owner, operating DANOCH FOODS on Kayode Street, Ogba in Ifako-Ijaiye Local Government Area of Lagos State, noted, “Some baskets are even sold at ₦7,000 depending on the varieties, but the pepper is still very expensive.”

Consumers were observed teaming up to buy baskets of tomatoes and bags of pepper, viewing these as opportunity purchases.

On Monday, the Federal Government announced a 150-day duty-free import window for certain food commodities in a bid to combat rising inflation, which has impoverished many Nigerians.

The government also declared its intention to collaborate with states and the military to expand land cultivation nationwide.

This intervention is expected to reduce demand for foreign exchange by food importers.

In 2023, Nigerians spent $2.13 billion importing food items, further driving up food prices, according to a report.

Quarterly data from the Central Bank of Nigeria revealed that despite Nigeria’s vast arable land, the country imported a large volume of food.

The Minister of Agriculture and Food Security, Abubakar Kyari, highlighted that the National Bureau of Statistics put food inflation at 40.66 percent, creating a crisis in the food sector.

“We have all been witnesses to the escalating cost of food items in all parts of the country. There is virtually no food item that has not had its price raised to a level higher than what a good many Nigerians can afford,” Kyari stated.

Aditionally, Kyari announced that the Federal Government would import 250,000 metric tons of wheat and 250,000 metric tons of maize.

These semi-processed food commodities will be targeted at small-scale processors and millers across the country.

Picture credit: Yinka Adelakun