Onion Prices Surge by 200% Ahead of Festivities

In anticipation of the upcoming Yuletide celebrations, the price of small-sized bulb onions in Nigerian markets has skyrocketed to between N200 and N300.

A recent market survey conducted by DAILY POST on Tuesday in Abuja’s Federal Capital Territory revealed this dramatic increase.

The survey indicated that at the Dutse and Kubwa village markets, the price of a single small-sized onion soared by 200 percent, reaching N300 on December 17, 2024, compared to N100 during the same period last November.

Furthermore, larger onions have also seen a price hike, rising from N300 to N500. A seller at the Dutse First Gate market, Abdullahi Yakubu, reported that a dustbin basket of onions now costs N250,000, up from a range of N170,000 to N192,000.

Yakubu explained that while price increases are common in the weeks leading up to the festive season, this year’s surge is particularly steep.

“It’s not unusual, but this time, the increase is significant. Last month, we bought a bag of onions for between N170,000 and N192,000. Now, it exceeds N250,000,” he noted.

Deborah Okoli expressed her frustration, stating that the soaring prices are becoming unaffordable for many Nigerians. “It’s shocking to see a small onion that used to cost N50 to N100 now priced at N300; this is outrageous,” she remarked.

This price surge coincides with a rise in Nigeria’s headline and food inflation rates, which have climbed to 34.60 percent and 39.93 percent, respectively, up from 39.19 percent.