Legit.ng Weekly Price Check: Top 3 Foodstuff Items Whose Cost Price Have Increased in Popular Lagos Market

• Nigerians are not happy with the current situation in the country and they are not wasting time expressing their pains to the government
• Whilst Nigerians are groaning over the naira scarcity and fuel shortage, traders on the other hand are bothered about the cost price of major goods in the market
• This week at a popular market in Lagos, Legit.ng had a chat with traders and they highlighted some foodstuff items whose cost prices have increased drastically

A lot is happening in the country and it is taking a toll on the daily means of Nigerians.

The current hardship brought upon by the new naira notes scarcity and fuel price hike and shortage, have affected business activities in the country.

At a popular market in Lagos, businessmen and women are lamenting as the naira redesign policy has affected their businesses negatively.

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Interestingly, this has led to a drop in sales level and as well reduced the purchasing power of buyers in turn, cutting down the profit margin of the traders.

Food prices rise in Lagos market

The cost price of goods has continued to rise in Lagos market where goods are offered for sale at wholesale prices; for some traders, it has so much to do with the nation's grappling economy and the Central Bank of Nigeria's policy.

Whilst the deadline for the use of the old naira notes elapses today, February 10th, 2023, Legit.ng confirmed from traders the foodstuff items whose cost price have been affected by the latest happenings in the country.

At the market, it was revealed that the cost price of;

1. Ogbono

2. Egusi and

3. Crayfish have increased drastically and buyers are feeling the heat presently.

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Why are the items are expensive and their present cost of purchase

1. Ogbono

According to information gotten from the traders at the market, ogbono is expensive because a new one is out and available giving way for the old one to vacate the market.

The traders informed that seasonal factors and the grappling economy, not leaving out insecurity in the country further led to the rising price of the item.

In fact, others opined that the cost price of a bag of the new ogbono goes for N285,000 and the old ogbono sells from N220,000 and below.

2. Egusi

Egusi, according to the traders in the market is very expensive despite the fact that it is in its season which is supposed to make it more affordable; the reverse is actually the case they noted.

Foodstuff dealers at the market told Legit.ng that egusi is expensive because of the happenings in the states wherein its is grown and purchased in Nigeria.

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It was gathered that the spate of insecurity in the northern and southern region of the country has affected the cost price of egusi at the market.

At the moment, a big bag of egusi sells from N230,000 and above while the small bags sells from N200,000, N190,000 and below.

3. Crayfish

Crayfish is one item at the market whose present cost of purchase surprised not only the buyers but the traders as well.

Foodstuff dealers who spoke with our correspondent revealed a bag of crayfish now sells for N300,000 and noted some traders are managing to sell the time because buyers are complaining bitterly.

They, however, noted that fuel scarcity and seasonal factors are major issues inflating the cost price of crayfish at the moment.

Other goods whose cost price increases at the market

Meanwhile, at the market, it was discovered that goods such as provisional items, yam, fruits, palm oil and vegetable oil have increased by over five percent due to the current harsh economic situation in the country as wholesalers are groaning over poor sales

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Atiku, Tinubu or Obi? Lagos Traders reveal preferred presidential candidate they will vote for and why

The traders in a popular market in Lagos state are giving a different vibe ahead of the nation's presidential election, which is slated for Saturday, February 25th, 2023.

While reacting to the recent happenings that have rocked the discussion of most Nigerians in the polity, the scarcity of the new naira notes and the price hike of fuel and scarcity of the product, traders in a popular market maintained they would vote wisely in the coming poll.

Speaking with Legit.ng, a trader who sells foodstuff items and food items such as rice, beans and garri, revealed the presidential candidate he will support and vote for and why.

Deadline for old naira notes: How is it affecting you? Lagos traders voice out their frustration

Lagos traders expressed deep worry over the current hardship they are faced with in recent times.

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Naira, Fuel Scarcity: Gov Sanwo-Olu Announces 50% Reduction in Fares for BRT, LAGRIDE in Lagos

According to businessmen and women, the Central Bank of Nigeria's (CBN)'s recent policy is affecting their businesses, especially the recent redesign of the nation's currency, the N200, N500 and the N1,000 notes.

This week, Legit.ng had a chat with some of the traders at Mile 12 international market, Lagos state and they expressed their opinion on the burning issue in the polity.

Source: Legit.ng