Bayo Onanuga, Special Adviser on Information and Strategy to President Tinubu, has announced a significant decrease in food inflation in Nigeria. Onanuga made this statement on Monday, August 12, 2024, following a report indicating a dramatic drop in tomato prices.
According to TheCable, the price of a basket of tomatoes has fallen from N150,000 to between N55,000 and N60,000. Traders from Ketu and Berger markets confirmed these new prices, attributing the decline to the arrival of new harvests.
A trader from Ketu market mentioned that a large basket of tomatoes now sells for about N55,000 to N60,000, compared to N150,000 a few months ago. Additionally, a crate of tomatoes, which used to cost N55,000, is now priced at N30,000. The price of habanero pepper has also decreased, with a large basket now averaging N25,000, down from N55,000 at the peak of the price surge.
Traders in Berger market reported similar price drops, with a big basket of tomatoes now costing between N50,000 and N60,000, down from N150,000 to N200,000. A crate of tomatoes has decreased from N35,000 to N15,000, while the largest sack of habanero pepper now sells for N19,500, a significant reduction from its previous range of N200,000 to N230,000.
The overall drop in food prices is attributed to the influx of Hausa tomatoes and peppers in the market, leading to a more favorable pricing environment for consumers.
