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Protest-Induced Price Drop: Perishable Food Prices Plummet by 50% in Lagos Markets
Protest-Induced Price Drop: Perishable Food Prices Plummet by 50% in Lagos Markets

The ongoing nationwide protest in Lagos State has led to a significant drop in prices of perishable food items, with some traders reporting a 50% decrease in sales.

Protest-Induced Price Drop: Perishable Food Prices Plummet by 50% in Lagos Markets

The #EndBadGovernanceinNigeria protest, which began on August 1, 2024, has resulted in low patronage at local food markets, forcing traders to slash prices to minimize losses.

At the Ile-epo food market in the Alimosho/Agege area of Lagos, traders and buyers confirmed the price drop in separate interviews with NAN. "The protest has affected our sales, so we have to reduce prices to encourage buyers," said Mr. Rabiu Aliu, a tomato trader at Ile-epo market.

Aliu revealed that the price of a 50kg basket of tomatoes has dropped to between N40,000 and N50,000, down from N80,000 to N100,000 two weeks ago. 

Similarly, a 25kg basket now sells for between N18,000 and N19,000, compared to N30,000 to N40,000 previously.

"The protest has impacted our business, but we can't do anything about it," Aliu said. "We just have to adjust our prices to stay afloat."

Other traders at the market reported similar price drops for chilli peppers and other perishable food items. 

The price drop is a welcome relief for buyers, who have been struggling with high food prices amidst economic hardship. However, traders are feeling the pinch, with many struggling to stay in business amidst the low patronage.

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