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Consumers Rejoice As Bean Prices Collapse By Over 100%

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1 year ago

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Consumers Rejoice As Bean Prices Collapse By Over 100%

The Cowpea and Beans Farmers, Processors, and Marketers Association of Nigeria (C&BFPMAN) has attributed the recent crash in the price of beans and cowpeas to a bumper harvest across farming regions.

Speaking in separate interviews with the News Agency of Nigeria (NAN) on Sunday, stakeholders, including farmers, wholesalers, and consumers, highlighted increased yields, fewer pest attacks, and improved farm access as the key drivers behind the price drop.

Just last year, a 100kg bag of beans sold for as high as ₦210,000 to ₦240,000, up from ₦90,000 in 2023. But by the first quarter of 2025, the price steadily declined. Today, that same bag goes for ₦80,000 to ₦120,000, depending on the variety.

According to the President of C&BFPMAN, Kabir Shuaibu, last year’s high prices were a result of poor harvests caused by flooding and other climate-related challenges.

Shuaibu explained, “The main reason for the drop in price is the increase we got from our cultivation. We harvested over 10 times what we usually harvested in the past years.

“You can imagine a farmer who planted a hectare expecting 10,000 bags but ended up with just a few due to flooding. That scarcity caused the spike last year.”

Shuaibu said farmers learned from the hardship and adapted by intercropping beans with corn to maximise yields.

Shuaibu further stated, “Another reason for the surplus is that farmers didn’t take chances this time. While cultivating corn, they also planted beans and cowpeas in the same rows. That method increased harvest and brought down prices.

“A bag of beans in the North now sells between ₦80,000 and ₦120,000, depending on the species. As of this time last year, it was over ₦200,000.

He expressed hope that the trend continues, benefiting both farmers and consumers.

Wholesalers, Consumers React To Falling Prices
Mrs. Esther Umeileka, Managing Director of Fresh2Home Ltd. in Lagos, said the reduced price is not only due to higher yields but also because of improved crop quality.

“Last year, we dealt with insect and weevil attacks. This year, we didn’t experience that. There was less spoilage, and government policies have helped too,” Umeileka said.

At Oyingbo market in Lagos, beans trader Mrs. Zainab Ahmed noted a major boost in patronage.

Ahmed said, “Last year, customers just priced and walked away. A paint bucket of beans sold for ₦13,000 to ₦14,000. Now, it goes for ₦6,000 to ₦7,000. Everyone can afford it again.”

For many Nigerian households, the affordability of beans has brought relief. Mrs. Tonia Sanwo, a consumer, described the staple as a necessity in her home.

Sanwo stated, “We used to buy a small cup for ₦2,000 to ₦2,500 last year. Now it sells between ₦800 and ₦1,000. We’re really glad.”

Another consumer, Mrs. Favour Braye, a civil servant, linked the price drop to improved farm security.

She said, “The price of beans has really dropped in comparison to the prices last year.

“The farmers complained that insecurity on their farms resulted in poor yields the previous year.

“However, with ease of access to their farms, the price of beans has dropped and we are all happy about it. More people can now afford beans as it is a common staple in Nigerians homes.”

Naijanews.com

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Nigeria Strengthens Maritime Leadership as Fadahunsi Emerges Vice Chairman of Eastern Atlantic Hydrographic Commission

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12 hours ago

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July 12, 2026

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The Hydrographer of the Federation and Chief Executive Officer of the National Hydrographic Agency (NHA), Rear Admiral OO Fadahunsi, has been elected Vice Chairman of the Eastern Atlantic Hydrographic Commission (EAtHC) for the 2026–2028 term, further reinforcing Nigeria’s growing influence in regional and global maritime governance.

Rear Admiral Fadahunsi’s election was confirmed on Friday, 3 July 2026, during the ongoing EAtHC Conference in Abidjan, Côte d’Ivoire, where member states endorsed his emergence to one of the commission’s most strategic leadership positions.

Established on 26 November 1984 under the auspices of the International Hydrographic Organization (IHO), the Eastern Atlantic Hydrographic Commission was founded by France, Nigeria, Portugal and Spain. Over the past four decades, the commission has expanded significantly, comprising 11 member states, 10 associate members and six observers committed to promoting hydrographic excellence across the Eastern Atlantic region.

The commission plays a pivotal role in advancing hydrography, nautical cartography and maritime safety through capacity-building initiatives, the development and implementation of International (INT) Charts and Electronic Navigational Chart (ENC) schemes, improved hydrographic surveys, enhanced charting standards, effective dissemination of nautical information and sustained advocacy on the importance of hydrography to regional maritime development.

Since its inaugural conference in Paris, France, in April 1986, the EAtHC has convened biennially to strengthen collaboration among member states and chart the future of hydrographic development.

In another significant endorsement of Nigeria’s expanding maritime profile, the country has been selected to host the next EAtHC Conference in June 2028. Nigeria will also host the 25th Meeting of the Capacity Building Sub-Committee (CBSC25) and the 19th Meeting of the Inter-Regional Coordination Committee (IRCC19) in June 2027, positioning the country at the centre of major international hydrographic engagements.

Rear Admiral Fadahunsi’s election is widely regarded as a testament to Nigeria’s sustained investment in hydrographic development, maritime safety and regional cooperation. It also reflects growing international confidence in the National Hydrographic Agency’s contributions to safer navigation, marine resource management and the blue economy.

As Nigeria prepares to welcome leading hydrographers, maritime regulators and technical experts from across the world over the next two years, the country is poised to consolidate its reputation as a key driver of hydrographic innovation and maritime security in the Eastern Atlantic region.
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Business

Canada Publishes 2 Official Websites to Find Jobs, Says Over 2,000 Vacancies Are Posted Daily 

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14 hours ago

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July 12, 2026

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Canada has made it easier for unemployed individuals and foreigners who wish to live and work in the country to find jobs that can help them live comfortably and meet their basic responsibilities.

On the official Canadian government website, two links are provided to websites where job seekers can find available jobs in Canada

According to the Canadian government website, applicants who apply for jobs through these platforms can get hired by different companies, as more than 2,000 jobs are posted every day.

Aside from these two websites, the Canadian government explains that individuals can also use employment agencies to help them find jobs that match their skills.

A job seeker can also ask friends or family members if there are job openings or vacancies, as not all positions are advertised on these websites.

1. Job Bank

The Canadian government explains that thousands of jobs are advertised on this platform every day by organisations and companies. The link to access the website can be found in the detailed post published on the Canadian government website.

2. Jobs GC

Another website where foreigners who wish to work in Canada or Canadian citizens can find government jobs is the Jobs GC website. Federal public service jobs are advertised on the website, alongside several other opportunities that may match an applicant’s skills.

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Business

BREAKING: Marketers Increase Fuel Prices Nationwide, as US-Iran War Escalates,  New Rates Emerge 

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20 hours ago

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July 12, 2026

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Fresh petrol prices have emerged across major depots in Nigeria as marketers adjusted rates upward in response to growing uncertainty in the global oil market following renewed hostilities in the Middle East.

The latest pricing released shows that several depot operators have increased the ex-depot cost of Premium Motor Spirit (PMS), popularly known as petrol, amid concerns that escalating tensions between the United States and Iran could disrupt global crude oil supplies.

Industry observers say the adjustments are largely precautionary, with marketers seeking to cushion the impact of any sharp rise in international crude prices should the crisis worsen.

The fresh increase comes after tensions flared in the Gulf region, with Iran announcing the closure of the strategic Strait of Hormuz following the expiration of its ceasefire arrangement with the United States.

According to reports, Tehran accused a commercial vessel of violating its maritime regulations and carrying out hostile activities, prompting the Islamic Revolutionary Guard Corps (IRGC) to intercept and strike the ship.

The IRGC said the vessel had travelled through an “unapproved route” and had switched off its tracking systems, adding that the Strait of Hormuz would remain closed “until further notice” and until what it described as the end of US interference in the region.

In response, the United States Central Command (CENTCOM) confirmed carrying out military strikes on more than 140 Iranian military targets, including missile launch sites, drone facilities, naval assets, ammunition depots and surveillance infrastructure. Washington said the operation was aimed at protecting civilian and commercial shipping through the strategic waterway.

The latest developments have heightened fears of disruptions to global oil exports, with the Strait of Hormuz serving as one of the world’s busiest energy transit routes.

Data from PetroleumPriceNG indicates that depot petrol prices increased by an average of 0.46 per cent compared to previous rates.

The fresh adjustments signal a departure from the previous benchmark of around N1,075 per litre at several depots.

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