Everyday Essentials Escalate: Food Prices Soar, Squeezing Nigerian Pockets

• Food prices have surged dramatically, making basic nutrition increasingly unaffordable.
• Rising fuel and transportation costs compound the impact on everyday expenses.
• Government reforms aimed at long-term growth are causing immediate hardship.

Nigeria’s markets are still a battleground of rising prices—and it’s hitting the everyday people really hard.

In February 2025, many Nigerians are feeling the squeeze, from food prices to skyrocketing fuel costs, and honestly, it’s getting tougher every day.

Let’s talk food. Staples like rice, beans, tomatoes, and yams have shot up dramatically compared to last year. For instance, by the end of 2024, a 50kg bag of rice cost about ₦75,000 in Lagos and reached as high as ₦99,000 in Abuja. Now, the current price ranges between ₦75,000 and ₦90,000—showing a slight stabilization in some areas, but still high for many.

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Similarly, EKO HOT BLOG gathered that a 50kg bag of beans now sells between ₦78,000 and ₦85,000, while a basket of tomatoes is running at around ₦55,000. Each yam tuber costs between ₦3,000 and ₦4,000, and a 25-litre container of palm oil is about ₦50,000. Compared to last year, these numbers tell a story of dramatic price hikes that force families to cut back on meals or switch to cheaper, less nutritious options.

Fuel and Transportation issues

Fuel prices are another big headache. The government’s decision to remove fuel subsidies has pushed prices from affordable levels to over N1,000 per litre, and they have continued to rise ever since, with limited supplies in some areas. This isn’t just about filling up your car; higher fuel costs mean everything from transport to the cost of moving goods gets more expensive. When vendors pass these costs on to us, the everyday expenses pile up, and the cost of living spirals.

Back in September 2024, inflation was already around 32.70%, but fast forward to now and things haven’t gotten any better—if anything, they’ve worsened. Even small changes in commodity prices feel like a punch in the gut when you’re already struggling to make ends meet. Some urban areas might see a slight easing in certain sectors, but the overall picture is pretty grim.

For millions, these price hikes are more than an inconvenience—they’re a daily reality. Families are skipping meals, switching to lower-quality food, and even cutting back on transportation. The burden falls hardest on those who were already living on tight budgets. It’s not just the markets feeling it; even restaurants and vendors are seeing fewer customers, as people try to stretch every naira.

President Bola Tinubu rolled out some radical reforms—like ditching fuel subsidies and devaluing the naira—to supposedly kickstart long-term growth. But in the meantime, these measures have left many Nigerians reeling. The promise of a brighter future feels too distant when you’re paying almost triple for basic foods and struggling with soaring fuel prices.

Compared to last year, February 2025 feels a lot bleaker. The everyday cost of food, fuel, and transport keeps rising, squeezing households tighter than ever. For many Nigerians, these aren’t just economic terms—they’re life-altering changes that force tough choices every day.

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