By Emmanuel Jimmy
Food prices in the Federal Capital Territory (FCT) and its environs have begun to decline, according to a market survey by the News Agency of Nigeria (NAN).
In Kado Market, a 50kg bag of rice, previously sold for up to N100,000 in January, now costs N87,000, while in Garki Market, prices have dropped from N92,000 to as low as N81,000. Satellite town markets like Nyanya offer even lower prices, with a 50kg bag of rice now selling for N70,000—-N83,000.
Onions have seen a significant reduction, with prices at Orange Market falling from N100,000 to N55,000 per bag. Similarly, in Garki Market, onion prices have plummeted from N200,000 to N60,000.
Other essentials, including garri, palm oil, and beans, have also recorded price drops. A 25-litre keg of red oil now sells for N50,000 at Nyanya Market, down from N83,000. White beans, which previously cost up to N200,000 per bag, now range between N115,000 and N120,000 at Kado Market.
Traders attribute the reductions to increased supply and improved logistics, giving consumers some relief amid economic challenges.
