In Lagos State, a significant rise in onion prices has raised concerns among traders and consumers. Recent reports indicate that the cost of a bag of onions has escalated to approximately $108, up from a previous range of $54 to $72, reflecting a 50% increase. This price surge is primarily attributed to seasonal scarcity.
Traders from areas such as Alimosho and Amuwo Odofin have observed consistent price hikes over recent months, complicating market forecasts. The shortage is further intensified by logistical challenges, including transportation issues from northern regions, contributing to the elevated market prices. Consumers are adapting by purchasing smaller quantities or substituting onions with alternative seasonings in their meals, highlighting the impact of this price increase on daily life.
Source: Peoples Gazette