The price of beans in Nigeria has dropped significantly, with costs nearly halved in recent weeks, according to local traders and business owners. This unexpected price decrease is providing relief to consumers after months of high food prices, particularly affecting staples.

A prominent businessman in the Lagos agricultural market attributed the price drop to a combination of factors, including an abundant harvest season and improved distribution networks across the country. “This year’s harvest has been particularly strong, and with better logistics in place, we’re seeing beans arrive in larger quantities at markets,” he explained.

Beans, a key source of protein for many Nigerians, have been subject to price fluctuations over the past year due to inflation, transportation challenges, and supply chain issues. However, with the current reduction, many families are able to stretch their food budgets further.

Economists suggest that if this trend continues, it could contribute to easing food inflation in Nigeria, benefiting both urban and rural households. However, some caution that prices may stabilize or rise again depending on factors like fuel costs, demand, and further harvests.

The recent drop in the price of beans highlights the importance of a stable agricultural sector in providing affordable food options and reducing financial pressure on households across the country.