Crayfish prices in Lagos have continued their sharp upward climb, with traders warning that a paint bucket of the seafood could sell for between N15,000 and N20,000 by December if current market pressures persist.
Traders across major markets in Ikorodu, Oyingbo, and Surulere say the persistent rise is driven by a combination of fuel price hikes, high transportation costs, poor road networks, and seasonal supply shortages, News Agency of Nigeria (NAN) reports.
The situation, they noted, is squeezing profit margins and reducing customer patronage.
Crayfish, a staple ingredient in many Nigerian households, has seen price increases almost every week across some markets.
At Asolo Market in Ikorodu, trader Mrs Peace Olufemi said prices have risen steeply in just two months.
“The price of a paint bucket of crayfish rose from N7,000–N8,000 in September to N11,000 in November,” Olufemi said.
She predicted a further increase during the festive and dry seasons, noting that the current shortage may worsen.
Another trader, Mrs Josephine Anyanwu, said the price of a paint bucket of crayfish increased from N11,000 to N12,000 within a week.
“A big nylon-sized crayfish is very costly, and I can’t afford it. Prices may rise to ₦15,000 a paint in December,” she said.
At the same market, Mrs Omolara Ajibola, a major dealer, said the price of a bag of “big nylon” crayfish is now between N40,000 and N42,000, with a profit margin of about N10,000 per sale.
“Some days, I sell, and some days, I don’t. Sales have really reduced,” she added.
Similarly, Mrs Nkechi Okafor, another trader, said 10 paint buckets of crayfish sold for N100,000 in August and N130,000 in September, and now it goes for N160,000.
She expressed uncertainty about the market outlook but predicted that prices would remain high into the next year.
Mr Okechukwu Miracle, a bulk crayfish supplier who sources from Osun State, confirmed the market instability.
He explained that each bag contains six portions, sold at N120,000 each.
Ija BJ, a crayfish seller at Oyingbo Market, attributed the development to the off-season and the increase in the cost of fuel.
Ija BJ, a crayfish seller at Oyingbo Market, attributed the development to the off-season and the increase in the cost of fuel.
She said that a big basket of crayfish containing 34 paints, which they sold at N180,000 in August, now sells between N250,000 and N280,000 depending on the bargain.
An engineer at Oyinbo Market, Mr Michael Popoola, highlighted the impact of fuel prices on fishing operations.
“Fishing machines consume more fuel than vehicles, which increases production costs,” he said.
He added that the high cost of transporting goods from other states further drives up market prices.
A retailer, known as Mummy Blessing, said that custard paint of crayfish now sells for N11,000 and may reach N20,000 by December based on past trends.
A consumer at Lawanson Market, Surulere, Mrs Funke Adesina, explained that both traders and buyers should already be familiar with the usual price patterns of crayfish.
According to her, knowing the right time to buy as a trader and when to stock up as a consumer is essential.
“Crayfish is one seafood I can’t cook without, so I make sure to buy in bulk before the price rises,” she said.
She added that a trader she patronises recently mentioned that travelling has become risky.
“Many traders are now afraid to go out and restock because the roads are unsafe,” she said.
Newly released data from the National Bureau of Statistics (NBS) for October 2025 shows that Nigeria’s headline inflation eased to 16.05% in October 2025, down from 18.02% in September.
Month-on-month inflation rose to 0.93%, higher than 0.72% in September.
However, food inflation eased to 13.12% year-on-year from 39.16% in October 2024, a drop of 26.04 percentage points, following the change in the CPI base year.