In Nigeria, there has been a notable increase in the price of onions as the Christmas season approaches. A survey conducted in the Federal Capital Territory (FCT) Abuja, specifically in the Dutse and Kubwa village markets, revealed that the cost of a small-sized onion bulb has risen to between $0.43 and $0.65. This marks a 200 per cent increase from the price in November, where a small-sized onion was priced at $0.22. The price for a large-sized onion has also escalated, now standing at $1.08, up from $0.65. Furthermore, the cost for a dustbin basket of onions has surged to $540.54, a significant rise from the previous range of $367.57 to $415.14.
Market participants have expressed their concerns over this price hike. Abdullahi Yakubu, a seller in the Dutse market, commented on the situation, stating, "It's not unusual, though this time around, the hike is long. Last month we bought a bag of onions between $367.57 and $415.14. Now, it is over $540.54." Additionally, consumer Deborah Okoli highlighted the impact on affordability, remarking, "You can imagine, a small onion of $0.22 to $0.43 is now $0.65; this is ridiculous." This price increase coincides with Nigeria experiencing a rise in headline and food inflation to 34.60 per cent and 39.93 per cent, respectively.
Source: NaijaNews