Business
Tomato prices crash in Lagos amid harvest season glut
The price of tomatoes in Lagos and other parts of Nigeria has significantly dropped due to a glut caused by the ongoing harvest season.
Farmers and traders have attributed the price crash to the surplus supply, which occurs annually between January and March.
A tomato glut refers to a situation where an excess harvest of tomatoes leads to a price drop.
According to reports by the News Agency of Nigeria, the price of a 50kg basket of tomatoes now sells for as low as N10,000 to N12,000, depending on the species. In the northern part of the country, a 25kg plastic crate is priced between N6,000 and N7,000.
In Lagos, the price of a big basket of tomatoes has fallen to N13,000–N15,000, compared to the N140,000–N150,000 price range recorded in May 2024. This represents a decrease of approximately 90% over an eight-month period.
The Chairman of the Tomato Growers and Processors Association of Nigeria (Kaduna State Chapter), Mr. Rabiu Zuntu, said the glut is a result of the January-to-March harvest period, during which tomato plants produce an abundance of fruits. This surplus often leads to reduced prices and significant post-harvest losses.
“One of the problems we face in the tomato sector is that the period from January, February, and March is that of tomato glut,” Zuntu explained.
He added that approximately 50% of harvested tomatoes are lost during this period due to inadequate storage facilities and limited processing capabilities.
“Presently, we only have a few functioning tomato processing facilities to help reduce the post-harvest losses we witness annually,” he said.
Urgent need for preservation
Zuntu urged consumers to take advantage of the low prices to stock up and preserve tomatoes for future use.
“We usually advise consumers this period to preserve as much tomatoes as they can to cushion the effect when the produce gets expensive later in the year,” he said.
- He further highlighted small-scale preservation methods that households can adopt, such as blending, boiling, and storing tomatoes in airtight jars, which can last up to six months.
- Another traditional method involves burying tomatoes underground in a humid environment to maintain freshness.
“However, these preservation methods may not be able to work for large-scale preservation and storage of the produce,” Zuntu cautioned.
Vendors confirm price drop
Traders in Lagos also acknowledged the significant price drop. Mrs. Queen Oloyede, a trader at Surulere, noted that a 50kg basket of tomatoes now sells for N15,000–N20,000 at the Mile 12 market.
“Since a week ago, a basket of 50kg tomatoes sells at the Mile 12 market for between N15,000 and N20,000. I advise customers to begin to stock up for the time the produce will be scarce in the market,” Oloyede said.
However, Mrs. Judith Amen pointed out that the highest quality tomatoes still come at a premium price. “Presently, the highest quality of tomatoes at the Mile 12 market sells between N35,000 and N37,000 for a 50kg basket. People should preserve the quantity they can buy,” she advised.
Consumers share challenges
Some consumers expressed concerns about their ability to preserve tomatoes effectively. Mrs. Catherine Eigbedion, a resident of Agege, attributed her limited preservation efforts to an inconsistent electricity supply.
“With tomatoes in surplus this period and at a favorable price, it is advisable to buy in bulk and stock for the scarce days. Not everyone knows the local preservation techniques due to the inconsistent electricity situation. I just buy enough to last me for a week,” Eigbedion said.
Similarly, Mrs. Ebere Dudu from Dopemu emphasized the unpredictability of tomato prices. “We are glad that there are enough fresh tomatoes in the market and they are very affordable. Because we cannot predict the price of tomatoes in the coming months, I buy as much as I can and preserve for the rainy days,” she explained.
Business
Soludo takes over Onitsha main market as IPOB declares compulsory sit-at-home
The Governor of Anambra State, Prof Chukwuma Soludo has announced that his government will take over the running of Onitsha Main Market.
The governor had last Monday visited the market and also announced a one week closure over the continued adherence to sit at home protest by traders in the market.
The closure had generated a lot of tension, leading to protests by the traders, while the governor stuck to his gone, insisting that the market will remain closed for one week. He also held a meeting with the leaders of the market yesterday, where he presented them with two options.
Though it was a closed door meeting, which held at the Light House, Awka, a source in the meeting told THISDAY that the traders chose to open their shops on Monday, against an earlier option of demolishing and remodelling the market.
The source said: “The governor gave them two options. The first included; they will resume full trading activities on Mondays, mark attendance as required, while he regenerate and reorganise the market, demolish all illegal structures and plazas and create proper spaces and car parks. The second includes; To continue with Sit-at-Home on Mondays and risk the demolition of the market and use two-years for its reconstruction to restore it to its original master plan.
“The governor told them that restoring parking facilities in Main Market is an emergency, and any illegal structure erected at the park would be demolished soonest.”
It was gathered that the traders choose the first option, which will involve them opening on Monday, and giving the governor the go ahead to remove illegal structures to make way for wider roads in the market and restoring its packing space.
During the meeting, the governor told the traders that a committee will be set up to rectify all occupants of shops in the market, and that this will commence work soon, insisting that the government needs to know those who are trading in its market.
The governor was also said to have rejected a plea for the market to be opened on Saturday, insisting it can only be opened on Monday, when their compliance will again be re-accessed.
“The traders agreed to the terms, and will on Monday reopen the market to recommence business,” the source said.
Meanwhile, secessionist group, Indigenous People of Biafra (IPOB) has declared what it called Biafra-wide solidarity lockdown which is to hold on Monday in solidarity with Onitsha traders and to demand for Mazi Nnamdi Kanu’s immediate release.
A press release by the group’s publicity secretary, Mr Emma Powerful said the total shutdown across Biafraland is a direct, peaceful, and unified response to the shutting down of Onitsha Main Market for one week by Soludo.
The release said: “We remind Governor Soludo and his Abuja sponsors that the Monday sit-at-home originated as a peaceful protest demanding the unconditional release of Mazi Nnamdi Kanu, the very cause that has galvanized global attention to Biafra’s quest for self-determination.
“Attempts to twist this into “economic sabotage” or “criminality” will fail. The markets thrived during Christmas Mondays without incident, proving that voluntary compliance stems from genuine solidarity, not fear. Soludo’s escalation only exposes his desperation to provoke confrontation at a time when Biafra’s international profile is rising and diplomatic efforts are gaining traction.
“On Monday, February 2, 2026, we call on all Biafrans traders, transporters, banks, schools, civil servants, and every sector across Anambra, Abia, Imo, Enugu, Ebonyi, and beyond to observe this solidarity strike peacefully.
“Remain indoors, refrain from all commercial and public activities, and demonstrate to the world our disciplined resolve. This is not about disruption for its own sake; it is about standing with Onitsha traders who are being punished for demanding justice, and reaffirming that no governor can coerce free citizens into abandoning their rights or their solidarity.”
Business
BUA Chairman Is My Ex-Husband – Tinubu’s Minister Opens Up On Past Secret With Abdul Samad Rabiu
Nigeria’s Minister of Art, Culture and the Creative Economy, Hannatu Musawa has opened up about her former marriage to BUA Group chairman Abdul Samad Rabiu, describing it as a meaningful and life-shaping experience.
In a conversation on the MIC On Podcast with Channels Television journalist Seun Okinbaloye, Musawa reflected on her bond with Rabiu, saying their connection has remained strong despite their separation.
She explained that their relationship has evolved into one grounded in family ties, mutual respect, and continued support.
Musawa shared that although they are no longer married, they remain close and involved in each other’s lives.
She also pointed out the lasting connection between their families, noting that her daughter, Khadija, was named after Rabiu’s grandmother, showing the enduring link between them.
The minister described her time with Rabiu as one of the most memorable periods of her life.
She stated that there is no bitterness between them and that she will continue to support him in his endeavors, maintaining respect and care for their shared history.
She said: “We love each other because you love your family, obviously. But Samad is my brother. He’s my family. That’s what he is. And I’m his sister and his family, too. The marriage of the greatest experiences I’ve ever had.
“He is my ex-husband, but we are still family. We juggle coming from a background where, once you’re joined together, you continue to participate in each other’s lives. And so, we were married, and now we are just family.
“My daughter Khadija was named after Samad’s grandmother.
“We continue to share a deep respect and a love, and more than anything, support for each other. I’ll continue to be his greatest cheerleader.”
Abdul Samad Rabiu leads BUA Group, a Nigerian conglomerate with investments in cement, sugar, and other industries, and is regarded as one of the country’s leading business figures.
Business
LIRS reiterates January 31st deadline for employers’ Annual Tax returns filing
The Lagos State Internal Revenue Service (LIRS) has reiterated the statutory deadline of 31st January 2026 for all employers of labour in Lagos State to fulfil their statutory obligation to file their annual tax returns for the 2025 financial year.
In a statement issued on Thursday, January 19, the Executive Chairman of LIRS, Dr Ayodele Subair, reminded employers that the obligation to file annual returns is in accordance with the provisions of the Nigeria Tax Administration Act 2025 (NTAA).
Dr Subair explained that employers are required to file detailed returns on emoluments and compensation paid to their employees, as well as payments made to their service providers, vendors and consultants, and to ensure that all applicable taxes due for the year 2025 are fully remitted. He emphasised that filing of annual returns is a mandatory legal obligation, and warned that failure to comply will result in statutory sanctions, including administrative penalties, as prescribed under the new tax law.
According to Section 14 of the Nigeria Tax Administration Act 2025 (NTAA), employers are required to file detailed annual returns of all emoluments paid to employees, including taxes deducted and remitted to relevant tax authorities. Such returns must be filed and submitted not later than January 31 each year.
Dr Subair stated
“Employers must prioritise the timely filing of their annual income tax returns. Compliance should be part of our everyday business practice. Early and accurate filing not only ensures adherence to the law as required by the Nigerian Constitution, but also supports effective revenue tracking, which is important to Lagos State’s fiscal planning and sustainability.”
He further noted that in Lagos State, electronic filing via the LIRS eTax platform remains the only approved and acceptable mode of filing, as manual submissions have been completely phased out. This measure, he said, is aimed at simplifying and standardising tax administration processes in the State.
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