A market survey carried out by this reporter to assess price performance of various staple food items in Ibadan, the Oyo State capital between October 2025 and June 2026 reveals a significant fall.
Statistics authoritatively gathered in two major markets in Ibadan, Odo Ona Kekere Market and Apata Market, show significant reduction in all items surveyed, except palm oil.
This shows that prices of everyday food items in Ibadan, which may be symbolic of the situation in many other towns across Nigeria, have dropped between the last quarter of 2025 and the first half of 2026.
The survey, conducted on 25th June 2026, involved interviews with eight (8) traders in the two markets. It examined the cost of ten (10) selected food commodities—rice, beans, garri, palm oil, groundnut oil, tomatoes, onions, eggs, crayfish, and seasoning—using the units and measurements commonly sold by traders.
Overall, the findings suggest that food affordability is moving in an upward direction. While several major staples and vegetables became cheaper offering temporary relief, only palm oil, recorded an increase in price.
Rice, for instance, fell from ₦75,000 per 50kg bag in the last quarter of 2025 to ₦60,000 in June 2026. This represents a ₦15,000 decrease and a 20% drop.
Beans also declined from ₦88,000 to ₦75,000, a reduction of ₦13,000, representing about 14.8%.
Among the most striking decreases, Garri dropped from ₦35,000 per 50kg bag in October–December 2025 to ₦24,000 in June 2026 an ₦11,000 reduction and 31% decrease, according to traders’ responses.
Palm oil rose from ₦25,000 (10 litres) in October–December 2025 to ₦30,000 10 litres in June 2026, indicating a ₦5,000 increase about 20%.
Groundnut oil, on the other hand, decreased from ₦44,000 (15 litres) to ₦30,000, showing a ₦14,000 decline 31.8% change based on the survey.