Us Vs Iran: Market survey shows sharp increase in food prices

Food prices in major markets across Lagos went up sharply in March 2026. This is mainly because petrol became more expensive, which raised the cost of transporting food.

This information comes from a Nairametrics market survey that tracked 68 food items in Mushin, Daleko, Mile 12, and Oyingbo markets.

After prices slightly dropped in February, they increased again in March, affecting both fresh and packaged foods.

Why prices increased

The rise in fuel prices made it more expensive to move goods. Petrol prices increased from ₦875 to ₦960 per litre, while Dangote Refinery also raised its price. Higher global oil prices, linked to the Middle East conflict, contributed to this increase.

Because Lagos depends heavily on food from other parts of Nigeria, transport costs strongly affect food prices.

What the data shows

43 food items became more expensive in March (up from 23 in February)

13 items became cheaper (down from 35 in February)

12 items stayed the same

Inflation is still high, with food prices being a major cause.

Foods that became more expensive

Some of the biggest price increases were seen in:

Pepper:

Medium bag rose from ₦32,000 to ₦80,000

Big bag rose from ₦58,000 to ₦140,000

Tomatoes:

Big basket increased from ₦40,000 to ₦60,000

Oval basket rose from ₦25,000 to ₦35,000

Beans:

Brown beans (50kg) increased from ₦50,000 to ₦85,500

Oloyin beans rose from ₦45,000 to ₦75,000

Fish:

Kote increased from ₦5,000 to ₦8,500 per kg

Titus rose from ₦7,000 to ₦9,500 per kg

Other items like onions, palm oil, yam, and packaged foods also recorded smaller increases.

Traders said the price rise was caused by higher transport costs and lower supply from northern farms.

Foods that became cheaper

A few items dropped in price, especially grains and wheat products:

Flour prices reduced

Semovita became cheaper

Some rice brands dropped slightly

Garri (white) reduced

Egusi and ogbono had small price decreases

However, these reductions were smaller compared to the large increases in other foods.

Items with no price change

Some items, such as certain vegetable oils, yellow garri, maize, milk, and sweet potatoes, stayed at the same price.

What people are saying

Traders, buyers, and transporters all agree that higher fuel prices are the main reason for the increase.

A transporter said moving goods from the North is now more expensive.

A trader explained that transport costs forced them to raise prices.

A buyer complained that beans, which became cheaper last month, are now expensive again.

Another seller said they are struggling to balance making profit and keeping prices affordable.

Conclusion

The rising cost of fuel is pushing up food prices in Lagos. Since the city depends on food from other regions, transport costs continue to affect both traders and consumers.