Bayo Onanuga, Special Adviser on information and strategy to President Tinubu, has revealed that food inflation in Nigeria has declined massively.
He said this in a tweet on Monday, August 12, 2024 while reacting to a report by Cable Newspaper that the prices of a basket of tomatoes has dropped from N150,000 to N60,000 amid new harvests.
According to the report by TheCable, traders in Ketu and Berger markets gave the new prices. A trader at Ketu market said a big basket of tomatoes is currently selling for about N55,000 to N60,000 — down from an average of N150,000 a few months ago.
Additionally, a crate of tomatoes that previously cost N55,000 is now being sold for N30,000. He said a large basket of habanero pepper (rodo) is now selling for an average of N25,000, compared to N55,000 at the peak of the price surge.
It is the season. Hausa tomatoes and peppers are already coming out,” the trader said, providing reasons for the decline. Another trader in Ketu market said a small basket of tomatoes now costs between N20,000 and N25,000, lower than the previous price range of N30,000 to N34,000. She also said a small sack of pepper is currently selling for about N15,000 to N20,000. This previously cost N50,000.
Traders at Berger market told TheCable that a big basket of tomatoes has dropped from between N150,000 and N200,000 to about N50,000-N60,000; adding that a crate of the commodity has decreased from N35,000 to N15,000.
In the same market, the largest sack of habanero pepper now sells for N19,500 — down from between N200,000 and N230,000, the traders said. They said the price of a medium sack fell from N130,000 to N17,500.
