Beans prices in Lagos have witnessed a significant drop, sparking relief among traders and consumers alike. After months of sharp increases, a 100kg bag of beans that previously sold for ₦140,000–₦150,000 now costs ₦100,000–₦120,000, depending on the variety.
Traders in popular markets such as Agege and Iyana-Ipaja attribute the price drop to fresh harvests from northern Nigeria. Yakubu Ahmed, a trader at Agege Market, confirmed that the price of a paint bucket of honey beans has decreased from ₦12,000 to between ₦8,000 and ₦9,000. “We’ve seen a slight respite in the past two weeks due to increased supply,” he said.
Consumers have expressed their delight at the development. Cornelia Edet, a resident of Ketu-Ikosi, noted that a paint bucket of honey beans in her neighbourhood now sells for ₦10,000, compared to ₦16,000 earlier this year. Sandra Obalelenge of Dopemu also confirmed a similar drop, with prices for the same quantity now ranging between ₦7,500 and ₦8,000.
Traders, however, caution that the prices could fluctuate, especially as the festive season approaches. John Nwabueze, a trader at Iyana-Ipaja, said, “We are grateful for the reduction but cannot predict how long it will last.”
The drop in prices has provided some respite for Lagos residents, many of whom hope the trend continues to ease the burden of rising living costs.
Credit: NAN (Text Excluding Headline)
