Rewane reports a significant drop in the prices of tomatoes and pepper, now at N60,000 per basket. Learn more about the impact of protests on these prices.
In light of the recent wave of hunger protests, economist and Executive Director of Financial Derivatives – Bismarck Rewane has revealed that a basket filled with tomatoes and pepper is currently being sold for N60,000 at present time.
In an interview with Channels Television, Rewane revealed that he is a member of the Presidential Economic Coordination Council. This disclosure was made on Thursday.
He stated that the decrease is noteworthy as it brings down the cost of a basket of tomatoes and pepper to less than N100,000. This is in comparison to two or three weeks prior when selling for between N130,000 and N150,000.
He observed that the food items were sold out at their perishable worth.
He believes that Nigerian markets may experience a surge in tomato and pepper prices as post-protest business activities resume.
Yesterday (Wednesday), our team visited the market where we observed a significant decrease in the price of tomatoes. It dropped by percentage down to N60,000 per basket compared to its bold pricing two to three weeks ago.
Pepper’s price has decreased to N60,000 which is a reduction of 57%. I suspect that these goods are perishable as the ongoing protests and movement limitations have hindered farmers from transporting their products to the market. Consequently, available goods in the market are depleting at an alarming rate.
He said that he believes the price of tomatoes and peppers will rise once again in the coming days. At present, it is expected that their perishable nature would be reflected in the market.
Remembering that in the previous week, demonstrators had hit major cities in Nigeria to protest against the increasing cost of living within their country.
