Ginger prices hit N46,000 per paint bucket in Lagos as insecurity, supply shortage bite
By Aboki Forex —
Traders in Lagos say ginger has become a luxury item. A paint bucket of the spice now sells for as high as N46,000. A derica goes for about N12,000. Many consumers now buy small pieces for N500 because they cannot afford the full measure.
The price surge is blamed on insecurity in major producing states. Farmers in Kaduna, Nasarawa, Niger, and Plateau cannot access their farms. Harvests have dropped sharply. Disease outbreaks and rising transportation costs have made matters worse.
Mr Ademola Oduyemi, the Public Relations Officer of Oyingbo Market, confirmed the trend. He said reduced output from key states has cut supply to record lows. Logistics challenges have also pushed up costs along the supply chain.
Ginger is a staple in Nigerian cooking and traditional remedies. But traders say many households can no longer afford it. The situation shows no sign of easing soon.