Prices of Onions Decrease at Lagos Markets

By Ahmed Rahma

The prices of onions, which drastically increased after the lockdown a few months ago, have dropped in major markets in Lagos State and others.

Based on the information gathered by Business Post from sellers of the new gold at the Igando market on Tuesday, the price has dropped by 60 per cent to 50 per cent at the Mile 12 Market in Lagos. It was gathered that a bag of onions, which used to sell for N70,000, now goes for N35,000.

Another trader at the same market informed us that when the commodity became very scarce a few months ago, the bag went for N68,000 but the same bad of onions now goes for N40,000.

However, the onion seller, who identified himself as Adamu, disclosed that some retail sellers still sell the commodity at a high price so as to recover the loss they incurred when it was scarce.

“Although the price has dropped, I’m still selling at the normal price because I need to recover the loss of selling when the price increased.

“The onions I was selling for four pieces at N200 are still being sold at the same price; it is just a little bigger,” he told Business Post.

Another seller of onions at the Olugbede Model Market in Egbeda, Lagos identified as Abubakar Sanusi, explained to us that the prices of onions and other food items from the northern part of the country reduced because of the ease in the restriction of movement by the federal government.

However, he warned that prices may skyrocket again if the government impose another lockdown or fails to address the insecurity in the north.

“Government should protect farmers because Boko Haram and bandits are disturbing the farmers a lot. Also, they should not do another lockdown because things will be worse,” Mr Sanusi said.

Recall that last week, the News Agency of Nigeria (NAN) conducted a market survey in Enugu and it was observed that a bag of onions now sells for between N58,000 and N65, 000 as against N70,000 and N80,500 some months back.

A seller of the commodity, at the New Akwata in Garki Market, Mr Joe Ilora, had informed the news firm that the reduction in prices was due to an increased number of stored onions brought from the northern part of the country.

“Due to the increased number of onions brought in from the north, the scarcity of onions is now a thing of the past.

“Places like Sokoto, Kano and Jos, where we buy them from are now experiencing surplus,’’ Mr Ilora said.

Another onions trader, Mrs Clara Eze, at Garki market, said that the price of onions would further drop as its season of abundance was gradually getting closer.

Mr Dan Ugwu, who also sells onions, also blamed the high costs of months back to increased logistics charges like land charges, transportation and money paid to truck pushers.

He urged the government to build storage facilities for traders to preserve perishable items such as onions so that it would be available all year.