Business
Rising Cost Of Tomato: Households Adopt Weird Alternatives To Make Stew
Published
12 months agoon
By
Editor
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.
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.
“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.
“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.
“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.
“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.
“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.”
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.”
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.”
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.
“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.”
SOURCE: VANGUARD
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The Naira, which has seen steady appreciation against the Dollar all week, closed stronger on Friday, trading at ₦1,580.44 in the official forex market.
Data from the Central Bank of Nigeria’s website show the Naira gained ₦4.51k against the Dollar on Friday alone.
This marks a 0.28 per cent appreciation from Thursday’s closing rate of ₦1,584.95 in the official foreign exchange window.
The local currency maintained consistent strength throughout the week, recording gains daily.
READ ALSO: Naira Appreciates Against Dollar At Foreign Exchange Market
On Monday, May 19, it traded at ₦1,598.68; on Tuesday, at ₦1,590.45; and on Wednesday, at ₦1,584.49.
These gains suggest increased investor confidence and improved forex supply, contributing to the naira’s performance.
Meanwhile, the CBN, at its 300th Monetary Policy Committee meeting held Monday and Tuesday, retained the Monetary Policy Rate at 27.5 per cent.
Business
BREAKING: Again, Dangote Refinery Cuts Petrol Price
Published
3 weeks agoon
May 22, 2025By
Editor
The Dangote Petroleum Refinery has announced a nationwide reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, with new prices now ranging between ₦875 and ₦905 per litre, depending on location.
The ₦15 per litre cut applies across all regions and partner fuel stations, and was confirmed via an official announcement posted on Dangote Refinery’s social media channels on Thursday.
Major marketers participating in the new pricing regime include MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy — partners in the distribution of Dangote-refined products.
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Under the previous pricing structure, Lagos residents paid ₦890 per litre, while prices reached ₦920 in the North-East and South-South regions. With the latest adjustment, Lagos now pays ₦875 per litre, while the North-East and South-South will see prices drop to ₦905.
A regional breakdown of the revised prices is as follows: Lagos: ₦875, South-West: ₦885, North-West & Central: ₦895, North-East & South-South: ₦905 and South-East: ₦905.
In its announcement, Dangote Refinery encouraged consumers to purchase fuel only from authorised partner stations and urged the public to report any cases of non-compliance via its official hotlines: +234 707 470 2099 and +234 707 470 2100.
“Our quality petrol and diesel are refined for better engine performance and are environmentally friendly,” the company said.
Business
Naira Appreciates Against Dollar At Foreign Exchange Market
Published
4 weeks agoon
May 17, 2025By
Editor
The Naira ended the trading week on a positive note, recording a bullish close on Friday at the official foreign exchange market.
It appreciated N1,598.72 against the U.S. Dollar, reflecting a modest gain that suggests continued efforts to stabilise the local currency.
According to figures published on the Central Bank of Nigeria’s official website, the Naira strengthened by N0.60k against the Dollar on Friday.
This upward movement represents a 0.03 per cent appreciation compared to the N1,599.32 exchange rate recorded at the close of trading on Thursday.
READ ALSO:Naira Depreciates In Parallel Market
The local currency had shown some resilience earlier in the week, posting gains on both Tuesday and Wednesday trading sessions.
On Tuesday, the Naira appreciated by 0.02 per cent, followed by a stronger gain of 0.21 per cent on Wednesday.
These improvements were seen as positive indicators of growing investor confidence and increased supply in the foreign exchange market.
However, Thursday’s trading session saw a minor setback, with the Naira slipping by N2.62 against the Dollar.
This loss equated to a 0.16 per cent depreciation, dampening the midweek rally seen in previous sessions.
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Market analysts attributed Thursday’s dip to a brief increase in Dollar demand from importers and other market participants.
Despite this, the week still closed on a positive note, with the Naira showing signs of gradual recovery and increased market stability.
Analysts continue to monitor the Central Bank’s policies, especially interventions aimed at improving Dollar liquidity and managing demand pressures.
The Naira’s performance in the coming weeks will likely depend on consistent supply inflows and investor sentiment across the broader economic landscape.
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