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Traders List Reasons Why Prices Of Rice, Onions, Cooking Gas Rise Every Week

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2 years ago

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The price of local rice, onions, cooking gas, pepper, and other staple food items has significantly increased across major markets in Lagos State. The bi-monthly market survey is carried out by Nairalytics.

The survey considered four major markets in Lagos state namely; Oyingbo, Daleko, Mushin, and Mile 12 Market.

Specifically, the price of a big bag of dry onions rose significantly by 57.4% to sell for an average of N28,175, despite falling to N17,900 earlier in the month. Likewise, the price of a small basket of sweet potatoes climbed by 54.55% to sell for an average of N6,375 compared to an initial average of N4,125.

The report also showed that a big bag of pepper that was initially sold for an average of N22,750 two weeks ago has increased to an average of N27,950, while the cost of refilling a 12.5kg cylinder of cooking gas has topped N11,250. It is worth noting that as of this time last year, a 12.5kg cylinder of gas was refilled for an average of N4,600, representing a 145% year-on-year price increase.

On the flip side, the price of a 2kg bag of wheat meal dropped by 38.11% to sell for an average of N1,145 compared to N1,850 recorded two weeks ago. Additionally, a 500g packet of power pasta now sells for an average of N400 from an initial average price of N500, thereby representing a 20% decline in price.

Meanwhile, the incessant increase in the prices of food items was attributed to the high cost of transportation as a result of the surge in the price of fuel, scarcity of fuel in some areas, and bad road networks. In other cases, the increase was attributed to seasonal fluctuations, a high rate of insecurity, and an erratic power supply among others.

The crippling effect of the surging food prices has eroded the purchasing capacity of Nigerians as traders now lament low sales turnout and rationing by consumers.

This is in line with the World Bank’s Nigeria Development Update (NDU) report, where the apex financial institution stated that inflation will likely push an additional one million Nigerians into poverty by the end of 2022.

This is in addition to the over 80 million Nigerians that are estimated to live below the poverty line, while other socio-economic factors continue to ravage the country.

Food is a very important necessity in the Nigerian economy as most Nigerians spend a huge chunk of their household expenditure on food items. According to the National Bureau of Statistics (NBS), Nigerians spend over 56% of their household expenses on food.

The National Bureau of Statistics (NBS) on Wednesday, 15th June 2022 released the nation’s consumer price index, which showed that Nigeria’s inflation rate rose to its highest level in 11 months, rising from 16.82% recorded in April 2022 to 17.71%.

The food index, which is a closely watched component also rose by 19.5% year-on-year in May 2022, representing a 1.13% points uptick compared to 18.37% recorded in the previous month and a 2.78% decline compared to the corresponding period of 2021 (22.28%).

According to the Bureau, the rise in the food index was caused by increases in prices of bread and cereals, food products, potatoes, yam, and other tubers, wine, fish, meat, and oils.

A look at the NBS report on cooking gas price watch for the month of May 2022 released during the week, showed that the average price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) stood at N3,921 in May 2022 from N3,800 recorded in April 2022 indicating an increase of 3.18% month-on-month.

Also, the average price for refilling a 12.5kg cylinder of cooking gas increased to N8,726 in May 2022 from N8,164 recorded in April 2022 representing a 6.88% month-on-month increase.

Although field survey shows that the price has surpassed N11,000 in Lagos State as of press time.
The highlight of the report is given below. It contains information on items that witnessed price increases, and price decreases, as well as market insights from interviews conducted.

Items that recorded increases
A small basket of Irish potatoes currently sells for an average of N5,500, rising by 47.65% from an initial average of N3,725 recorded two weeks ago.

The price of a big bag of pepper witnessed a 22.86% increase to sell for an average of N27,950 compared to a previous average of N22,750.

In addition, a 0.9kg of Ayoola Poundo Yam flour now sells for an average price of N1,475, indicating an increase of 13.46% when compared to the average of N1,300 that was recorded two weeks ago.

Also, a big tuber of Abuja yam rose by 11.48% to sell for an average of N1,700. It was initially sold for an average of N1,525.

Similarly, a 50kg bag of big bull rice increased by 9.2% to sell for an average of N34,125 against N31,250 recorded earlier in the month, while 25 litres of local palm oil recorded a 9.12% increase to sell for an average of N23,475.

Other items that recorded price increases within the two weeks under review include a carton of full chicken, teabag, a bag of yellow and white Garri, a bag of Honeywell premium flour, a bag of brown beans, etc.

Items that dropped in prices

Some food items, however, recorded a price decrease in the period under review.

The price of a 5kg pack of Honeywell wheat meal dropped to N2,645 as against N3,625, indicating a 27.03% decline in price.

A small basket of round-shaped tomatoes recorded a price decrease of 17.94% to sell for an average of N13,375 compared to the initial average of N16,300.

Furthermore, a 25g pack of Nescafe classic coffee now sells for an average of N625 indicating a decrease of 12.13%.
The price of 800g Milo refill cocoa beverage declined by 15.36% to sell for an average of N2,053 while the 450g of Milo refill cocoa beverage dropped by 11.40% to sell for an average of N1,185 from the average of N1,338 recorded two weeks ago.

Market insights
In a brief chat with Ada John, a potato supplier at Oyingbo Market, she stated that her major challenge is the supply chain. She explained that whenever she is done with her account analysis, she mostly realizes a loss due to surging operating costs.

“Moving goods from the North region to Southern part of Nigeria has become very difficult for most transporters, mainly because of bad roads especially now that it’s the rainy season, So, whenever the cost of transport goes up, we have no choice but to increase the prices so as not to run into a loss,” she added.

Cynthia, a frozen food dealer at Daleko Market, stated that the cost of frozen foods especially chicken and turkey has been on the rise due to the increase in the cost of their feed, thereby making rearing of this livestock less lucrative.

“Lack of power supply and increased price of fuel to power our generator is also a major challenge that we face as a frozen food dealer, apart from the price increase from the farm, our own operating costs also reflects in the final selling price,” she explained.

While speaking with Adamu, an onion seller at Mushin Market, he complained that poor harvest and the rainy season caused the increase in the price of dry onion. This is in addition to the level of insecurity in the northern regions as explained by Mr. Adamu.

“We are often chased by bandits from the farm and even the few onions we harvested are always collected from us and we only have the leftover to ourselves”, he said.

In a conversation with Mallam Hamza, a pepper trader at Oyingbo market, he mentioned that continuous rainfall causes damage to pepper vines, thereby affecting the cultivation of pepper, which has contributed to the recent increase in the price of pepper.

“We know that the price of pepper and tomatoes usually changes as a result of seasonal fluctuations, therefore, we can’t hold on to any reason for the recent spike in the price of pepper, but I can tell you that the size of pepper available in the market is very small, the volume is also limited, hence causing an uptick in price,” Mallam Hamza explained.

According to Dupe, while making purchases at Mile-12 Market, he frowned at the irregular spike in the price of food in the country.

He said, “we do not know where we are heading to, in 2020, we thought it was the worst due to the covid-19 pandemic, with the expectation that after the pandemic and lockdown, things will go back to normal. Unfortunately, things have hit rock bottom.”

“It appears that the price of food items as well as other commodities and services have nowhere else to go except upward, while our income is not growing. It is painful, disheartening, frustrating, and we are just powerless.”

“We are only just considering food inflation now, what about other areas of insecurity, bad transportation, daylight robbery amongst others. Going out is no longer safe in any part of the country or at any time.”

“How are we supposed to function and grow our earnings, if we are constantly looking over our shoulders for fear of attack or robbery?” he asked.

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Food

Oats, potatoes… 8 foods that help lower blood pressure

Published

2 months ago

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September 29, 2024 6:36 am

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High blood pressure (HBP), or hypertension, is often referred to as the “silent killer” because it typically has no noticeable symptoms. But if left untreated, it can lead to serious health issues like heart disease, stroke, and kidney damage.

According to a study, over a billion adults have hypertension with prevalence among adults in low and middle-income countries.

While medication is a common treatment, dietary choices also play a significant role in lowering blood pressure.

Several studies have proven that adding certain foods to your daily meals can help reduce hypertension naturally.

Without further ado, here are foods to incorporate into your diet to help lower blood pressure.

  • Oats

Oats are rich in beta-glucan, a type of soluble fiber that has been linked to lower blood pressure levels.

Beta-glucan works by reducing cholesterol levels, which in turn helps to lower blood pressure.

A study on hypertensive rats found that beta-glucan and avenanthramide C present in oats reduce the levels of malondialdehyde, a marker of oxidative stress in the rats.

This suggests that the fiber in oats can help prevent high blood pressure and reduce the risk of cardiovascular diseases.

So, adding a bowl of oatmeal to your diet is a healthy way of managing blood pressure. You can also add fruits, nuts, or seeds to enhance the taste and health benefits.

Potatoes

Potatoes are filled with several plant-based compounds, making them an excellent addition to a blood pressure-lowering diet.

Potatoes are rich in potassium, which helps counteract the effects of sodium in the body and aids in the regulation of blood pressure.

They also contain magnesium, another mineral that contributes to healthy blood pressure levels by promoting the relaxation of blood vessels.

A 2021 study involving 30 adults with HBP found that a diet with potatoes, particularly boiled and baked, helped reduce systolic blood pressure significantly.

When trying to add potatoes to your diet, avoid fried potatoes. Opt for boiled or baked potatoes to maximise their benefits.

Beets

Beets are rich in dietary nitrates, which the body converts into nitric oxide.

Nitric oxide relaxes and dilates blood vessels, which improves blood flow and reduces blood pressure.

Studies have shown that drinking beet juice or adding beets to your meals can lead to a significant reduction in blood pressure, especially in those with hypertension.

To add beets to your diet, you can roast them, blend them into smoothies, or enjoy them in salads.

  • Eggs

Eggs can be a valuable part of a blood pressure-lowering diet as they are filled with high-quality protein and nutrients.

The proteins in eggs have been shown to have antihypertensive effects by acting as natural inhibitors of angiotensin-converting enzyme (ACE), which is involved in blood pressure regulation.

A 2023 study also found that eating five eggs or more per week can help reduce systolic blood pressure levels.

  • Leafy greens

Leafy greens like spinach and kale are rich in potassium. Potassium is a mineral that helps balance the sodium levels in your body.

Sodium is a major contributor to high blood pressure, and by increasing potassium intake, the body can better eliminate sodium through urine.

This process helps reduce tension in the blood vessels, leading to lower blood pressure.

Including a variety of leafy greens in your diet, whether in salads, smoothies, or as side dishes, can be a natural way to manage hypertension.

  • Berries

Berries like blueberries, strawberries, and cranberries are loaded with antioxidants including flavonoids and anthocyanins.

Anthocyanins have been said to increase nitric oxide levels in the blood and reduce the production of molecules that restrict blood flow.

This may help lower blood pressure levels.

A study on various types of berries, including whole, freeze-dried, or juice forms, also found that they can help reduce systolic blood pressure by over 3 mm Hg.

Incorporating berries into your diet is quite easy. Because they make for a great snack, topping for yogurt or oatmeal.

  • Nuts and seeds

Nuts and seeds have been shown to have a beneficial effect on blood pressure.

These nuts and seeds include flaxseed, chia seeds, walnuts and almonds.

They offer a concentrated source of nutrients important for blood pressure control, including fiber and arginine.

Arginine is an amino acid that produces nitric oxide, an essential compound for blood vessel relaxation and blood pressure reduction.

  • Yogurt

Yogurt is a great source of calcium and potassium and also contains probiotics that support overall cardiovascular health.

A review found that consuming three servings of dairy per day can help lower blood pressure by 13%.

A 200-gram increase in one’s diet per day is linked to a 5% reduction in risk for high blood pressure.

However, be sure to choose plain, unsweetened varieties to avoid excess sugar. Making these dietary changes helps you take a proactive approach to your health.

Potentially reducing the need for medication and decreasing the risk of serious health complications.

However, always consult your healthcare professionals before making significant changes to your diet or treatment plan.

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Food

Four reasons you should eat more mangoes

Published

3 months ago

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August 17, 2024 10:38 am

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If you grew up in Nigeria or any other African country, you’re probably familiar with the mango fruit. In Nigeria, this fruit is commonly available during the rainy season. It’s another mango season and you’re bound to come across vendors, stores, and markets selling these fruits more often than not.

Mangoes come in different colours and sizes depending on their species. Mangoes vary from bright yellow, dark green, pink-green, red, and peach colours and can be found easily.

German [Opioro], Cotonou, Sheri, Kerosene, Julie, Peter are names to the commonly found mango types in Nigeria. These mango types are probably very familiar to you, right?

So why should you eat more mangoes even though you’ve practically grown knowing them your whole life? The answer is simple; mangoes contain a large number of nutritional benefits for proper skin, body, and hair development.

What are these benefits you may ask:

Mangoes Are Great For Clear Skin
Vitamins A and C are major components which promote healthy skin. Mangoes are packed with lots of Vitamins A and C and when eaten habitually, promotes healthy skin.

Mangoes are equally known to exfoliate and eliminate dead pores on the skin.

In addition to the mentioned benefits, mangoes also help improve signs of ageing as it contains antioxidants which rejuvenate the skin.

Potassium and Vitamin E [both contained in mangoes] work alongside each other to keep cells hydrated to moisturize the skin. As well as working to hydrate the skin, Antioxidants also work to improve skin tone.

Mangoes Are Great For Weight Loss
Mangoes are fat-free and therefore, a great choice of food for people on the journey of shedding weight.

While the ability of mangoes in aiding weight loss has been considered by some to be factual or a myth, there’s an important truth to note. While mangoes might indeed aid in weight loss, eating only mangoes may not necessarily be a good way to go about it. However, replacing unhealthy snacks with mangoes and other fruits is the best way to go about this.

Mangoes Improve Eyesight
If you’re keen on improving your sight, mangoes might provide additional benefits to you. Certain nutrients found in mangoes are beneficial for the proper functioning of the human eyes.

Remember that mangoes are rich in vitamin A and this vitamin is a great preserver of eyesight reducing the risks of eye defects such as; night blindness etc.

Remember to combine mangoes with other food items such as oysters, seafood, carrots, etc for the best results in improving your eyes.

Mangoes Aid in Digestion
Battling with digestion issues? Then mangoes might be the answer for you as this fruit is known to aid in digestion. According to ‘Healing Foods’ by DK Publishing, mangoes contain enzymes that aid the breakdown and digestion of protein.

Having read about these benefits, would you be eating more mangoes this season?

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Food

7 foods you need to eat after a workout

Published

3 months ago

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August 11, 2024 8:00 am

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The food you consume post-exercise can impact your recovery, muscle growth, and overall progress toward your fitness goals.

Whether you’re aiming to bulk up, lose weight, or simply maintain your current physique, knowing what to eat after a workout is essential.

Here are seven key foods to incorporate into your post-workout routine, and how each one contributes to your fitness journey.

Greek yoghurt is a protein powerhouse, making it an ideal post-workout snack. It contains more protein than regular yoghurt, which helps repair muscle fibres and promotes growth. Pairing it with fruits like berries or bananas adds natural sugars, replenishing glycogen stores and providing antioxidants that combat exercise-induced stress.

Surprisingly, chocolate milk is an excellent recovery drink. It offers an optimal 4:1 ratio of carbohydrates to protein, crucial for replenishing glycogen and promoting muscle repair. It’s also a convenient and tasty option, perfect for those who need a quick refuel on the go.

3. Sweet potatoes

Sweet potatoes are rich in complex carbohydrates, which slowly release energy and help restore glycogen levels depleted during exercise. They are also a great source of dietary fibre, vitamins, and minerals like potassium, which aids in muscle function and recovery.

For a heartier meal, consider a salmon and quinoa salad. Salmon is rich in omega-3 fatty acids, which reduce inflammation and muscle soreness. Quinoa provides complete protein and complex carbs, making this combo perfect for muscle repair and energy replenishment.

Protein shakes are a versatile option, allowing you to tailor your intake based on dietary needs. Whether using whey or plant-based protein, these shakes provide a quick and efficient way to deliver protein to your muscles, aiding in recovery and growth. You can blend them with fruits or oats for added carbs.

6. Avocado toast with eggs

Avocado toast is a delicious and nutrient-dense option. Avocados provide healthy fats that support joint health and hormone production. Adding eggs increases the protein content, essential for muscle repair. This combo is not only filling but also loaded with essential nutrients like potassium and magnesium.

Cottage cheese is another excellent source of protein, containing casein, a slow-digesting protein that keeps you full longer. Combining it with granola provides additional carbs and a satisfying crunch. It’s a simple yet effective way to nourish your body post-workout.

Incorporating these foods into your post-workout meals can make a great difference in how quickly and effectively your body recovers.

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