The price of Nigeria's cheapest protein source, beans, has declined by 37% due to a bumper harvest, bringing relief to consumers. A 100kg bag now sells for an average of ₦190,000, down from ₦300,000 last year, according to report
Similarly, a painter of beans has dropped from ₦14,500 to ₦8,000, marking a 45% price reduction. Farmers attribute the surplus to improved yields, with some seeing triple the output compared to last year.
"This year, a piece of farmland that yielded 10 bags now produces 30," said Kaduna-based farmer Kabir Shuaibu. He noted that the high supply would keep prices low until mid-year.
Lagos trader Nura Isa added that prices typically decline between December and January due to the harvest season but may rise again when the rainy season begins.
Nigeria remains the world's largest producer and consumer of beans, but FAO data shows production has been declining since 2013. However, this year's harvest has also led to price drops in other crops across the agricultural value chain.
