BRANDED CONTENT: Good News for Nigerians as Prices of Indomie, Sugar, Pasta, Others drop

There seems to be some form of relief at the moment for Nigerians, especially those in the low to middle income bracket, who have for some months now been affected by the nationwide food price hike, driven by the sharp inflation and economic pressures across the nation.


https://twitter.com/MobilePunch/status/1767205190661193886
In recent months, Nigeria’s inflationary figures have surged astronomically, rising to an all-time high in two decades, to 29.90% in January 2024; with a corresponding 2.64% headline inflation, according to figures released by the National Bureau of Statistics (NBS). Food inflation also rose by 3.21%, with core inflation hitting 2.24%, while urban and rural inflation climbed to 2.72% and 2.57 % respectively, the NBS data showed.

But according to latest market surveys carried out last week around popular markets in the country, there seems to be a reduction in the prices of some food items. Among them is noodles, especially the popular Indomie Instant Noodles.

For instance, a 40-pack carton of Indomie Regular Chicken 70g, which sold for N10,650 now sells for N8,900. Indomie standard pack 100g, which sold for N15,000 now go for N12,300 per carton. In the same vein, the 40-pack carton of Indomie Super Pack Chicken Flavor 120g which sold for N17,950 now sells for N14,700

Other food items whose prices have fallen in the markets surveyed include sugar, rice, beans, semo, spaghetti and macaroni. A 50kg BUA sugar now costs N84,000, a Dangote 50kg sugar goes for N88,000, Stallion Long grain rice which sold for N88,000 now sells for N86,000, while the price for short grain rice fell to N78,000 from N80,000. Fifteen pints of Honeybeans which sold for N78,000 now sells for N75,000, while 32 pints of brown beans now sells for N155,000 as against the previous N165,000.

Confirming this, a wholesale and retail dealer of noodles range of products at the popular Wuse Market, Mrs Debola Tairu, particularly noted that the prices of Indomie Noodles products have come down. "This is very good from Indomie, and I hope other products' will reduce their prices too", she said.

Let it drop to what it was before Tinubulation. That's the only time it will make sense

Simple. No buyers so the price comes down.

Simple rule of economics

If this is true then those companies probably want to sell off their final stocks at competitive prices and bid Nigeria goodbye forever

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Rice at 80k plus and we are in March.
If 50kg of rice is sold at 100k and above by December this year, then it will be official that Tinubu was sent from hell to destroy Nigeria.

Emergency lovers of Nigeria won't be happy

Minister of bad news and his supporters won't be happy

We are getting there.

Paraman:
Emergency lovers of Nigeria won't be happy

Only sadist members of Tinubulation will jump up and down that a bag of rice sold 45,000 naira last year is selling at 85,000 naira today.

Seems memory loss is a prerequiste to support Tinubu.

yarimo:
Minister of bad news and his supporters won't be happy

This your 30k monthly job no easy o

nairalanda1:
Simple. No buyers so the price comes down.

Simple rule of economics

The lower the demand, the cheaper the supply. Except some non essenco

Some. people will still blame Tinubu for the price reduction....and praise Bitter Obi for gallivanting from one social occasion to the other even though he wasn't invited....


Obi doesn't use his campaign to make a lot of money for himself....if I were Obi Bitter...I will contest for the President position... because I know so many tribal and ethnic bigots will keep sponsoring me even though I keep losing...

Agbadorians will soon claim this as Tinubu achievement. yeye dey smell.

They should revert the price back to where it was in 2015 before APC calamity smuggled themselves to power. In the same vane, they should revert the dollar back to where they met it before we take them serious.

yarimo:
Minister of bad news and his supporters won't be happy

Twice you have voted for incompetent leaders.
You voted Buhari for 8yrs you complemented his wasteful and wicked policies, you still want ahead to vote someone that said he will continue from where Buhari stopped now goods and services went higher than the sky, no more middle class we only have rich and the poor, with you satanic mind you turned to blame someone that is not even a councilor, the only Tinubu achievement is blaming Peter Obi.

Lies from the pit of hell. I bought a carton of super pack today.
Someone should tell Tinubu miscreants that nobody can rig governance even if he rig election.

jmoore:
Rice at 80k plus and we are in March.
If 50kg of rice is sold at 100k and above by December this year, then it will be official that Tinubu was sent from hell to destroy Nigeria.

Relax, What if disposable income increase 1000 fold?

yarimo:
Minister of bad news and his supporters won't be happy

How much was the price of these food items before Tinubu grabbed and snatched power?

jmoore:

Only sadist members of Tinubulation will jump up and down that a bag of rice sold 45,000 naira last year is selling at 85,000 naira today.

Seems memory loss is a prerequiste to support Tinubu.

Bitter people prefer the price to keep on shooting up

Paraman:
Bitter people prefer the price to keep on shooting up

How bitter brains calculate things: 85,000 naira is better than 45,000 naira.

Bitter bababluing.

Let's get a bag of rice back to around ₦40K. The price decrease is too low.

jmoore:

Only sadist members of Tinubulation will jump up and down that a bag of rice sold 45,000 naira last year is selling at 85,000 naira today.

Seems memory loss is a prerequiste to support Tinubu.

Hahaha you get mouth sha

jmoore:

How bitter brains calculate things: 85,000 naira is better than 45,000 naira.

Bitter bababluing.

Bitter people like you are in pains because there's a fall in price

Imagine being angry and upset that prices are falling?

These animals hate Nigeria.

Disgusting, despicable specimens.

Which good news? Super pack they sold for 5700 naira before Rose to 17k and drop to 14k and u said it's good news? How?

Celplas1010:

This your 30k monthly job no easy o

Don't mind him jor.

you mean the indomie i just priced 1hour ago?
seun do something fake news will destroy nairalands reputation in public.

Which Sugar dropped?
Nigerian Breweries is effecting a record price increase starting 15th March. Nestle increased last week. Promasidor doubles the price of their beverages.

Who is doing this sampling and where and how?

Where is the drop in price ,you need to be very careful with fake news

Audio price drop