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Thursday, March 31, 2022

Market Watch: Frozen turkey hits N3,200 per kilo

A survey conducted by Peoples Gazette on Thursday showed that most frozen food stores in Lagos are now selling between the rates of N3,000 and N3,200 per kilo.

• March 31, 2022
Frozen turkey
Frozen Turkey

The price of turkey, a popular protein diet in Nigerian dishes, has increased to N3,200 per kilo in stores as food scarcity occasioned by pluming economy bites harder.

Findings from a survey conducted by Peoples Gazette on Thursday showed that most frozen food stores in Lagos are now selling between the rates of N3,000 and N3,200 per kilo.

“The price of turkey is now, N3, 2000 per kilo. As of January we sold at N2, 500 but the price of everything is going up every day,” a frozen food operation in Ojodu told The Gazette “those selling at cheaper rates are still selling the items they got between December and January.”

Further checks by The Gazette indicated that some frozen food stores were still selling as low as N2,750 per kg.

While Shalom frozen food in Aina area of Ojodu Berger was selling at N3,200 per kilo,  King of Kings frozen food store along Ogunnusi road was selling at the rate of N3,100 per kg, with God’s own frozen food selling at the rate of N3,000 per kg and Abiodun food stores at N2,750 per kg.

However, other frozen food stores visited by The Gazette said they last sold between the rate of N2,600 and N2,750 before running out of stock.

The Gazette had earlier reported that Nigeria’s inflation rate shifted direction in February, rising to 15.7 per cent from 15.6 per cent the previous month. The uptick in Nigeria’s inflation rate is attributed to the increase in the price of goods and services, following the fuel scarcity across the country in February.

The Statistician-General of the Federation, Simon Harry, said the composite food index rose by 17.11 per cent, recording a decrease of 4.68 per cent points in February 2022, compared to 21.79 per cent recorded in February 2021.

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