Ikotun Market is one of the more data-rich markets on the FoodPrices Nigeria platform. Five sellers were captured there on March 28, giving a solid cross-section of what traders were quoting on a single day. But for confirmed price movements over time, only one of those sellers, Mr Issac, appears in both the March 28 and April 15 datasets. His prices are where the story of what has actually changed begins.
Beans (Olo) has risen. Mr Issac quoted N52,000 per 50kg bag on March 28. On April 15, the same seller is at N56,000 - a confirmed increase of N4,000 or 7.7% in 18 days. The 25kg half-bag moved in lockstep from N26,000 to N28,000. This is a meaningful move on what is generally the most affordable bean variety tracked at Ikotun. Olo has historically attracted buyers who find Oloyin or Drum beans too expensive, so when its price rises, it reduces the available affordable options for budget-constrained households. For context, on March 28 the five sellers at Ikotun were quoting Olo at a range of N50,000 to N56,000 per bag - Mr Issac at N52,000 was sitting in the middle of that range. At N56,000 today, he is at the top of where the March range ended. Whether other sellers have moved similarly is something only the next multi-seller capture will confirm.
Beans (Oloyin) presents a different picture. On March 28, all five sellers captured at Ikotun quoted Oloyin at exactly N60,000 per 50kg bag - a level of consistency across sellers that is unusual and suggests strong market consensus on this variety's price at that time. Mr Issac's Oloyin price is not available for April 15 from this visit, so we cannot confirm whether that consensus has held. What the March 28 data does tell us is that Ikotun's Oloyin market was unusually well-aligned across sellers at N60,000, which is worth tracking in future visits.
The most distinctive development at Ikotun this week is the debut of Nigerian Manufactured Rice in this market's verified price record. Captured from Top Man, a seller at Ikotun, local rice is priced at N50,000 per 50kg bag, N25,000 for the half, and N4,300 for a paint bucket. This is the first time a seller at Ikotun has been recorded quoting locally manufactured rice on the FoodPrices platform. At N50,000 per bag, it sits N3,000 to N6,000 below what Ikotun sellers were quoting for imported short grain rice on March 28, which ranged from N53,000 to N54,000. The price differential between local and imported rice has been a deliberate policy target for the federal government's rice production program, and Ikotun's numbers suggest that differential is real and visible at street level. Buyers who want to compare local versus imported rice prices across Lagos markets can do so using the FoodPrices compare tool.
Ikotun is also one of the few Lagos markets where FoodPrices captures maize and soya beans data. On March 28, Maize (White) and Maize (Yellow) were quoted by four sellers in a range of N38,000 to N42,000 per 50kg bag - a N4,000 spread across sellers on a single day that reflects the normal variation in sourcing costs and stall positioning within a large market. Soya Beans was recorded at N80,000 per 50kg bag from one seller, with no prior Ikotun baseline to compare against. These products will need more collection visits before trend analysis becomes meaningful.
The broader forces behind Beans (Olo)'s confirmed rise at Ikotun are consistent with what FoodPrices is observing across other Lagos markets this period. Nigeria's domestic bean supply is under pressure from elevated input costs at the farm level. The CBN's food price monitor for Q1 2026 noted that legume prices in southwestern markets continued to trend upward, driven by higher fertilizer and logistics costs from the primary producing states. When the cheapest bean variety in a market rises 7.7% in 18 days from the same seller, it is a signal that households relying on beans as their primary protein source are absorbing real cost increases. Track live Ikotun prices at foodprices.ng/real-time-prices.