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Rising Cost Of Tomato: Households Adopt Weird Alternatives To Make Stew

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Nigerians are coming to terms with the rising cost of living, as everyday spews out new problems deserving a survival strategy.

One of such problems is the high price of tomato, pepper and onion.

These combos can’t be exempted from 80 per cent of Nigerian delicacies.

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But now, it is no longer new that a N1,000 tomato consisting of five medium-sized pieces can not prepare a full pot of sauce for a household of three people for a week.

Vanguard found that many women have been struggling with various methods to complement rice, yam and other delicacies that are not complete without stew.

For Mrs. Gladys Maxwell, a tailor, she made use of N1,000 cucumber to complement her yam and rice sauce, after watching a presentation of such online.

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“I have tried using cucumber to prepare sauce, just like tomato.
“I saw the demonstration on-line and followed the steps.

“I added fresh pepper and used palm oil to make it red in colour.

“It was good. My pot was full. Imagine replacing tomato sauce with cucumber mix.

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“Cucumber is also vegetable.
“I had to tell a friend to adopt the strategy.

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“I made my family to finish the meal before I revealed the combination that made the sauce on their rice. They were surprised.

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“It’s good we try new things to survive in this country, because I doubt the price of tomato and peppers will come down soon.”

Mrs. Hannah Mayowa, a Point of Sale, PoS, agent, said she tried replacing tomato sauce with cabbage and beetroot.

I was with a friend a few weeks ago. I complained bitterly about how I struggle to manage money to prepare tomato sauce weekly for my family.

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“You know that many families in Nigeria, especially Lagos State, have this tradition of preparing rice and tomato sauce every Sunday.

“My family happened to fall into such a category.

“My friend told me to try cucumber or cabbage and beetroot stew.

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“She sent the videos to me and I decided to do that of carrot and beetroot.

“After boiling and blending them, the outcome was like the sachet tomato paste we buy in the market.

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“I was shocked and at the same time happy that I found a solution to my worries with just N2,000.

“I have tried using carrot but the taste I don’t like and it makes my last child visit the toilet a lot.

“I pray the price of tomato drops. There is nothing like it when preparing sauce.”

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Mrs. Modupeoluwa Adebowale, a trader, said she had a taste of cucumber sauce and doesn’t like it.

She added: “I decided to use our old solution which was the use of dried habanero pepper. I soaked it till it softened and blended it with enough onion to fine-tune its taste. Then I add sachet tomato paste. My sauce is ready.

“The habanero pepper is known to thicken sauce.”

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However, the replacement of tomatoes using other alternatives for preparing sauce has affected tomato sellers and grinders in the market.

Mrs. Rahimot Mojeed, a fresh tomato seller, said: “Since the price of tomato and pepper increased, sales have dropped.

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“Before, when there was a drop in supply of tomatoes due to the out of season effect, people still managed to buy.

“But now, there is nothing like that. I heard people now use cucumber, carrot and cabbage to prepare sauce the most. Some even use “ata gbigbe” meaning dry habanero pepper and sachet tomato paste to prepare stew for rice.

“I now buy tomatoes in little quantities because it is a perishable good and it’s now expensive. When it softens, it will result in a huge loss for me as there’s less patronage.”

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Miss Patience Oboh, a pepper grinder said she patronized the market asking those buying tomatoes to allow her to blend it for a N200 fee.

“In a day, I have up to 20 people who I blend tomatoes for.

“Since the price of tomatoes increased, I hardly get 10 customers.

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“I now have to roam the market searching for those who are interested in blending their tomatoes of which many decline saying,

“I will use my blender at home. The way tomatoes are expensive now, I can’t allow your machine to consume half of it all in the name of blending.”

“It is a phase. I believe it will pass.”

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SOURCE: VANGUARD

 

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CBN Sets POS Maximum Transactions In Fresh Guidelines

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The Central Bank of Nigeria has rolled out fresh guidelines for agent banking, known as Point of Sales, across the country.

The apex also in the guidelines pegged daily POS transactions at N1.2 million per agent and N100,000 per individual.

CBN disclosed this in a circular signed by its Director of the Payments System Management Department, Musa Jimoh.

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The guidelines further mandate all financial institutions to publish the list of all their POS agents on their website and to display it in their branches.

READ ALSO:CBN Establishes New Unit To Tackle Financial Crime

CBN noted that the guidelines would take effect from April 1, 2026.

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“The Guidelines aim to establish minimum standards for operating agent banking in Nigeria, enhancing agent banking to provide financial services and promoting financial inclusion, encouraging responsible market conduct and improving service quality in agent banking operations.

“This circular takes effect from the date of release, while the implementation of agent location and agent exclusivity shall be in effect from April 1, 2026.

“POS agents are restricted to a maximum of N1.2 million per day. Individual customers are limited to N100,000 in daily transactions.

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“These limits are intended to curb misuse, enhance financial integrity, and protect consumers within the agent banking framework,” it stated.

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Naira Records First Appreciation Against US Dollar At Official Market

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The Naira recorded appreciation on Wednesday against the United States dollar at the official market, the first time in three days this week.

The Central Bank of Nigeria’s exchange rate data showed that the Naira strengthened to N 1,470.62 per dollar on Wednesday, up from N1,471.09 traded on Tuesday.

This means that the country’s currency firmed up slightly by N0.47 against the dollar on a day-to-day basis.

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READ ALSO:Naira Appreciates Massively Against US Dollar In The Black Market, Highest In 15 Months

Monday and Tuesday, the Naira recorded negative sentiment at the official foreign exchange market.

However, at the black market, the Naira remained unchanged at N1,500 per dollar on Wednesday, the same rate exchanged on Tuesday.

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The apex bank data indicated that the country’s external reserves, a determinant of the exchange rates, stood at $42.57 billion as of October 7, 2025.

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SEC Warns Nigerians Of AfriQuantumX Ponzi scheme

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Nigeria’s Securities and Exchange Commission (SEC) has named AfriQuatum, with a claimed worth of N76 billion, as a Ponzi scheme.

The regulator also urged the public to be cautious about investing with the firm.

SEC disclosed this in a recent statement.

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According to the SEC, any person who places an investment or engages with the entity does so at his or her own risk, adding that its operations exhibit characteristics commonly associated with fraudulent Ponzi schemes.

READ ALSO:SEC Warns Nigerians Over AI-generated Investment Scams

“The attention of the Securities and Exchange Commission has been drawn to the activities of AfriQuantumX, which holds itself out as an investment platform trading on and selling cryptocurrency and stocks to investors in Nigeria.

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“The Commission hereby informs the public that AfriQuantumX is not registered by the Commission either to solicit investments from the public or operate in any capacity within the Nigerian capital market,” SEC stated.

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