Following the hike in prices of local commodities during the yuletide season, recent developments
In the latest report released January 17, 2019 by Financial Derivatives Company, a company which specializes in quantitative and qualitative research to provide insight for investment decisions in Sub-Saharan Africa especially Nigeria, 50kg bag of beans which sold at N26, 500 in December 2018 now sells for N20, 000.
Similarly, a 50kg basket of tomatoes and a bag of pepper which sold for N8, 000 in the previous month now sell for N6, 500 respectively.
In addition, a 50kg bag of rice which sold for N15, 500 during the yuletide season now sells for 15,000.
On the other hand, the 25l of Palm Oil remains static without change as it continues to sell at the rate of N10, 000 while Semovita (10kg) also remained same at N2, 800.
The prices of foodstuff items in the markets increased ahead of the Christmas and New Year celebrations.
With the payday for the month approaching, this appears to be a great time for Mainlanders to plan their next visit to the major markets in their neighbourhoods.