Outrage as bags of beans hits N100,000 as inflation bites harder

Nigerians are beginning to react to the recent increase in the price of bags of beans and other food items; a recent increase and an all-time high of #100,000 as sent the internet wailing.

This, moreover, is an eye-opener to the mass hunger and malnutrition Nigerians will be plunged into in the coming period. On a monthly basis, prices of food items appear to be rising in major cities in Nigeria.

For example, the prices of beans have gone up over the last one month compared to previous months. Recall that a bag of beans was sold at N30,000 in early September now costs between N50,000 and N100,000 in early October.

A market survey conducted by Peoples Gazette across Abuja, Lagos, Port Harcourt, Bauchi, and Bayelsa, showed that the prices of beans have doubled in the past weeks.

The price of a big bag of beans, the ‘oloyin’ variety, ranges from N88,000 to N100,000, while ‘plastic rubber’ costs between N3,500 and N5,500. Another beans variety, ‘drum’, cost between N80,000 and N95,000, while the ‘plastic rubber’ cost N3,000 or N3,500.

A big bag of white beans cost between N50,000 and N60,000, while the ‘plastic rubber’ price could be N2,500 or N3,000.

More so, the prices of other staple foods such as rice, yam, egg, garri, groundnut, and maize are also on the rise. Groundnut oil cost N27,000 for 50kg and N5,400 for 5kg. A bag of rice cost N30,000 and N4000 for ‘plastic rubber’.

A bag of garri was priced at N16,000.

Painfully, Nigeria’s national minimum wage is N30,000 per month, mainly applicable to civil servants (both federal and state). However, many state governments have failed to pay the new minimum wage citing poor finances. The private sector pays as low as N10,000.

See reactions below

Beans was regarded as the "poor man's food" now a bag of beans is ₦100000.

— Dr. Chinonso Egemba (@aproko_doctor) October 5, 2021

Buhari takes the price of a bag of beans from 15k to 100k in 6 years.

— Premier (@SodiqTade) October 5, 2021