-
A 100kg bag now sells for ₦80,000–₦120,000, down from ₦240,000 in 2024
-
Farmers cite increased yields, reduced pest attacks, and dual-crop planting
-
Consumers, traders rejoice as affordability returns to Nigerian kitchens
The price of beans in Nigeria has dropped by more than 100% following what farmers describe as one of the most successful harvest seasons in over a decade.
This was revealed by the Cowpea and Beans Farmers, Processors, and Marketers Association of Nigeria (C&BFPMAN) during interviews conducted on Sunday in Lagos.
According to Mr Kabir Shuaibu, President of C&BFPMAN, a surge in yield per hectare drove down the price of a 100kg bag of beans to between ₦80,000 and ₦120,000, compared to ₦210,000–₦240,000 in the third quarter of 2024.
ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!
“We harvested over 10 times what we used to. With the increased supply, prices dropped drastically,” Shuaibu said.
He explained that many farmers adopted intercropping techniques, planting beans alongside corn, which contributed to the tripling of output across multiple states.
Last year’s spike in prices, he noted, was caused by poor harvests due to floods and insecurity, which limited farmers’ access to their land.
Traders and Consumers Celebrate Price Crash
READ ALSO: INFLATION: Prostitutes in Zimbabwe Now Accept Vegetables, Cups of Beans As Payment
Mrs Esther Umeileka, a wholesale trader at Fresh2Home Ltd., cited reduced insect infestations and better adaptation to government policies as other reasons for the increased output.
In markets like Oyingbo in Lagos, beans are now sold for ₦6,000–₦7,000 per paint bucket, compared to ₦13,000–₦14,000 last year.
Consumers such as Mrs Tonia Sanwo and Mrs Favour Braye also welcomed the price relief, saying the product, a daily staple in Nigerian households is now more accessible.
