Foodstuff traders in Lagos State, Nigeria, link the rise in prices of several food items to the ongoing war involving the United States, Israel, and Iran.
A visit by The Whistler to Ilepo Market found that a bag of beans, which sold for about US$29 less than two weeks ago, is now selling for between about US$42 and US$43.
A basket of tomatoes now costs about US$18, representing a 100 per cent increase from the previous price of about US$9. A bag of melon, which earlier sold for under US$148, is now priced at about US$187. The price of a bag of rice has remained relatively stable, rising by about US$3 from about US$27 to about US$30.
Traders told The Whistler that frequent price adjustments in petroleum products continue to affect transportation and logistics costs. They added that the recent increase cannot be attributed solely to the war in Iran. The Ramadan fasting period and seasonal supply factors are also contributing to rising prices.
A resident who spoke with The Whistler said her friend's cousin bought a basket of tomatoes for US$48 at Oyingbo Market on Monday. According to her, traders linked the increase to higher diesel and petrol prices.
The Founder of Adugan Jollof, Folukemi Olamiposi, also commented on the price increases. In a video posted on Instagram, she said: "Today tomatoes jumped from 25k to 75k a basket, Rodo 80-90k, petrol 1400 per liter. Reason? Iran is bombing Dubai.
"Please, people who understand what is going on, explain. Are we also at war?"
The war involving the United States, Israel, and Iran began on February 28 with coordinated airstrikes targeting Iranian missile infrastructure, military sites, and leadership.
Crude oil prices rose above US$110 per barrel on Monday, levels last seen in 2022, as tensions linked to the Iran conflict affected global energy supply. Prices have since declined to below US$100 per barrel, but the conflict's effects continue to influence market conditions.
Source: The Whistler
