Groundnut Oil Price in Nigeria 2024: Hey there! Welcome back to another exciting post where we delve deep into what matters to you the most.Â
Today we’re focusing on something that’s a staple in almost every Nigerian kitchen: Groundnut Oil.
Ah yes, the golden liquid that we use to cook up a storm of delicious Nigerian dishes. From frying akara to making that perfect pot of jollof rice, groundnut oil is the unspoken hero of our kitchens.
But have you ever stopped to wonder how much it costs, especially in 2024?
The price of groundnut oil isn’t what it used to be; it’s been affected by so many factors, from the cost of groundnuts to transportation and even packaging.
You walk into the market or grocery store and bam! A new price hits you. So, what’s the deal with that?
Why are groundnut oil prices swinging like a pendulum, and how do you know you’re getting a good deal?
That’s precisely what we’re going to explore today. We’ll look at the different brands available, the features that set groundnut oil apart from other cooking oils, and yes, the burning question of pricing.
We’ll also talk about the factors affecting these prices and where you can score the best deals. That is what we do here at NigerianPriceGuide.com.ng!
So, sit tight, because this is going to be a comprehensive post. We’re also going to tackle some of the most frequently asked questions about groundnut oil in Nigeria. Trust us; you don’t want to miss this one!
Factors that Affect Groundnut Oil Price
The following are some factors that contribute to changes in the price of groundnut oil;
1. Quality of Groundnuts: The higher the quality of the groundnuts used, the more expensive the oil will be.
2. Packaging: Some brands invest in good quality, aesthetically pleasing packaging, which can hike up the price a bit.
3. Production Costs: From electricity to the labour involved, these factors contribute to the overall cost.
4. Market Dynamics: Things like inflation, currency value, and demand and supply can swing prices either way.
5. Transportation Costs: Importing and distributing groundnut oil across states adds to the cost.
Price of Groundnut oil in Nigeria 2024
Groundnut oil, also known as peanut oil, has a light yellow hue and a distinct nutty taste. This vegetable oil is a popular choice for both cooking and frying. You’ll also find it in certain skincare and cosmetic items. What makes it a healthy cooking option is its high content of monounsaturated fats and low levels of saturated fats. Plus, it’s packed with vitamin E, an antioxidant that’s good for skin protection against free radical damage.
This oil is ideal for cooking at high temperatures, thanks to its high smoke point. That means it’s perfect for everything from stir-frying to deep-frying. It’s also a favourite for whipping up salad dressings and marinades. When it comes to buying, you’ll find groundnut oil in various packaging options, from pouches and bottles to cans. You can find it in different sizes, and some brands even offer it in bulk for business needs.
You’re not limited to physical stores when buying groundnut oil; it’s also readily available online from multiple sellers.
Devon King Oil Prices
| Sizes | Prices |
|---|---|
| 1 litre | ₦2,650 |
| 2 litres | ₦4,500 |
| 5 litres | ₦11,000 |
| 10 litres | ₦23,000 |
| 20 litres | ₦45,000 |
| 25 litres | ₦33,000 |
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Power Oil Prices
| Sizes | Prices |
|---|---|
| Power Oil Low Cholesterol 750mlX 1 Carton (12ps) | ₦30,000 |
| Power Oil Low Cholesterol 750mlX Bottle (12ps) | ₦25,800 |
| Power Oil Low Cholesterol Sachets X 1 Carton (60ps) | ₦18,000 |
| 4.5 litres | ₦15,000 |
Groundnut Oil Features
- Rich in Nutrients: High in good fats and essential vitamins.
- Versatile: Great for frying, sautéing, and even in salads.
- Stable Shelf-life: Lasts longer compared to other oils, if stored correctly.
Factors to Consider Before Buying Groundnut Oil
The following factors must be considered before buying groundnut oil;
- Quality: Always opt for high-quality, preferably cold-pressed oil for the best health benefits.
- Brand Reputation: Stick to reputable brands that are known for quality and consistency.
- Packaging: Look for sealed, tamper-proof containers.
- Price: Compare prices across different stores or brands to get the best deal.
Where to Buy Groundnut Oil in Nigeria
You get your hand on groundnut oil in any of the following;
- Supermarkets: Chains like Shoprite, Ace supermarket, or Spar offer various brands.
- Local Markets: You can find cheaper options, but ensure it’s from a reputable seller.
- Online Stores: Sites like Jumia and Konga also list different brands, sometimes at discounted prices.
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FAQs on How Much is Groundnut Oil in Nigeria
Is Groundnut Oil Healthy?
Yes, groundnut oil is rich in unsaturated fats and essential vitamins, making it a healthy option for cooking.
How Do I Store Groundnut Oil?
Keep it in a cool, dry place, away from direct sunlight to prolong its shelf life.
Can I Use Groundnut Oil for Baking?
Absolutely! It’s a versatile oil that works well in various cooking methods, including baking.
Is Groundnut Oil Suitable for All Types of Cooking?
Yes, its high smoke point makes it ideal for frying, sautéing, and even deep-frying.
How Can I Check the Authenticity of Groundnut Oil?
Look for certification marks, check the manufacturing date, and always buy from trusted sources.
Wrapping Up on Cost of Groundnut Oil in Nigeria
Well, there you have it, friend! We’ve taken a thorough look at the ins and outs of groundnut oil prices in Nigeria for the year 2024.
From the factors affecting the price, where to grab a bottle, to how to make the most out of it in your cooking, we’ve covered it all.
It’s not just about getting the cheapest bottle off the shelf; it’s about understanding what goes into making this essential cooking ingredient and how to get the best value for your money.Â
See Also: Price of Coconut Oil in Nigeria
You don’t want to compromise on quality, especially when it’s something you consume regularly.
So the next time you find yourself walking down the cooking oil aisle, you’ll be armed with all the info you need to make the best choice for your kitchen and your wallet.
Thanks for staying with us through this post. Got more questions or thoughts? Feel free to hit us up in the comments section. Until next time, happy cooking!
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His name is Tiamiyu Abdulbazeet Olawale, the CEO of NigerianPriceGuide.com.ng. He is a student at the University of Ilorin studying Electrical and Electronics Engineering.