The price of onion in Nigeria has drastically increased, with a small-sized bulb currently priced between ₦200 and ₦300 across markets in anticipation of this year’s Yuletide season.
A market survey recently conducted by newsmen in the Federal Capital Territory (FCT) Abuja indicated that onion prices at the Dutse and Kubwa village markets had experienced a significant increase, with the cost of a single small-sized onion rising by 200 per cent to ₦300 on December 17, 2024, compared to ₦100 during the same period in November.
Henzodaily understands that the price of large-sized onions has escalated to ₦500 from ₦300.
In a report published on Tuesday, the Daily Post noted that the cost of a dustbin basket of onions has surged to ₦250,000, up from a range of ₦170,000 to ₦192,000.
A seller in the Dutse first gate market, Abdullahi Yakubu, remarked that this price increase is not surprising, as it is a common occurrence in the weeks leading up to the festive season.
“It’s not usual, though this time around, the hike is long. Last month we bought a bag of onions between ₦170,000 and ₦192,000. Now, it is over ₦250,000,” the individual noted.
Also, one Deborah Okoli lamented that the price of onions has almost exceeded ordinary Nigerians’ reach.
“You can imagine, a small onion of ₦50 to N100 is now ₦300; this is ridiculous,” she said.
The development comes as Nigeria’s headline and food inflation increased to 34.60 per cent and 39.93 from 39.19 per cent and 39.19 per cent, respectively.