Anifowose Samson
After recording sharp increases over the past five years, the price of beans in Nigeria has shown a slight decline in mid-2025, according to recent data from the National Bureau of Statistics (NBS) compiled by Statisense.
The average market price of a 50kg bag of brown beans stood at ₦99,508 as of June 28, 2025, down from ₦114,638 recorded in June 2024. This marks a 13.2% year-on-year drop following consecutive years of rising costs.
Similarly, a 50kg bag of white beans fell to ₦94,279 from ₦107,693 in June 2024, representing a 12.5% decrease.
Despite the recent relief, a historical review reveals the cost of both brown and white beans has risen significantly since 2020:
Brown Beans (Average Price per 50kg)
June 2020: ₦14,495
June 2021: ₦23,562
June 2022: ₦27,570
June 2023: ₦32,556
June 2024: ₦114,638
June 2025: ₦99,508
White Beans (Average Price per 50kg)
June 2020: ₦12,970
June 2021: ₦21,590
June 2022: ₦26,809
June 2023: ₦31,140
June 2024: ₦107,693
June 2025: ₦94,279
Analysts State that the latest drop may be attributed to improved supply from recent harvests and declining consumer demand due to inflationary pressures on household incomes.
However, they caution that prices may remain volatile due to fuel costs, insecurity in food-producing areas, and logistics challenges.
