A 1989 market survey document obtained from the archives has shown that there seem to be no time that Nigerians had it all figured out in terms of prices of things especially food items.
A report published in 1989 by The Nigerian Chronicle reads “At the last count, a cup of rice whose status was raised to its enviable height in the Second Republic was N2.50, while a bag went for N600, with indications to climb higher.
There is perhaps no food item that has escaped these phenomenal increases. Even beans, which until November last year, 1988 carried the lowest price tag of 30 kobo per cup, has now joined the bandwagon, selling for 70 kobo. For other items, the prices have either doubled or tripled. This phenomemon is silhouetted against the backdrop of scarce financial resources…”
Below is a market survey list showing the prices of foodstuffs in 1989.
“MARKET SURVEY FOR THE MONTH OF JANUARY 1989”
Rice:
Imported Grade 1 (50kg) – ₦600.00
Tin – ₦140.00
Adana – ₦35.00
Local (50kg) – ₦200.00
Tin – ₦115.00
Milk Cup – ₦1.20
Beans:
Red (100kg) – ₦420.00
Tin – ₦55.00
Adana (Red Beans) – ₦14.00
Milk Cup – ₦0.70
Garri:
White (100kg) – ₦140.00
Tin – ₦30.00
Milk Cup (White Garri) – ₦0.60
Garri Coloured (100kg) – ₦140.00
Groundnut Oil:
Tin – ₦170.00
Vegetable Oil:
Kings (3.78 litres) – ₦49.00
Turkey – ₦48.00
Avop (½ litre) – ₦14.00
Lucozade (bottle) – ₦8.00
Eggs:
Large (unit) – ₦0.70
Medium (unit) – ₦0.60
Crate (large) – ₦18.00
Crate (medium) – ₦17.00
Milk:
Peak (liquid) – ₦2.00
Carnation (liquid) – ₦2.00
Carnco (Powdered) – ₦15.00
Nido – ₦16.00
