Escalating fuel prices and a sharp increase in food costs have weakened Easter spending across Nigeria, as households grapple with shrinking purchasing power during what is traditionally a festive period.
Market surveys across Lagos by BusinessDay show steep increases in staple food items within a matter of weeks. A large basket of tomatoes at Mile 12 market now sells for about N60,000, representing a 46 percent jump from roughly N41,000 recorded in early March. Similarly, a bag of fresh pepper has surged by 74 percent to around N80,000 from N46,000 over the same period.
Other essential commodities have also recorded steady price increases. A 50 kilogram bag of rice currently averages N61,000, up from about N56,000 in January, depending on brand and grain quality. The cost of poultry products has followed a similar trend, with a carton of small sized chicken rising to N54,000 from N50,000 in recent weeks.
Traders and consumers attribute the rapid increase in food prices to rising fuel costs, which have significantly pushed up transportation expenses. The development is linked to ongoing geopolitical tensions between the United States and Iran, which have disrupted global oil supply flows and driven crude prices higher.
Retail petrol prices in Nigeria have climbed to around N1,300 per litre, increasing the cost of moving agricultural produce from farming regions to urban markets. As logistics expenses rise, traders have passed on the additional burden to consumers.
Victoria Ada, a retired school teacher in Lagos, said the pace of price changes has made household budgeting increasingly difficult. She noted that food prices fluctuate almost daily, leaving fixed income earners struggling to keep up.
Similarly, Oluwaseun Okiki, a shop manager, observed that consumer demand has weakened ahead of Easter. According to him, the usual surge in purchases of drinks and food items has not materialized, reflecting declining spending capacity among customers.
Frozen food sellers are also facing mounting pressure. A Lagos based trader, popularly known as Mummy Amoke, explained that high energy and procurement costs have eroded profit margins. She noted that the price of turkey has climbed to about N100,000 per carton, making it difficult to sustain sales while remaining profitable.
Recent data indicates that the rise in food prices marks a reversal from earlier stability recorded at the start of the year. Figures from the National Bureau of Statistics show that food inflation dropped to 8.89 percent in January, its first single digit level in several years. However, the trend has since reversed, with food inflation rising to 12.12 percent in February amid renewed global energy shocks.
Analysts note that Nigeria’s heavy reliance on road transport for food distribution makes prices highly sensitive to fuel costs. Increased transport fares for moving goods from northern farming hubs to southern markets have significantly contributed to the current surge.
As a result, many households are cutting back on traditional Easter spending, with celebrations expected to remain subdued. What is typically a period marked by increased consumption and social gatherings is instead being shaped by economic caution and rising living costs.