Data Methodology

How Price Finder computes price ranges, average prices, median rates, and freshness policies across Nigerian markets.

1. Price Ranges & Statistical Averages

When multiple submissions exist for a product or service in a region, Price Finder calculates:

Minimum & Maximum: The lowest and highest verified prices recorded across retailers.
Average (Mean): Sum of prices divided by total observations.
Median Price: The middle value in a sorted list of price records to eliminate extreme outlier skew.

2. Regional & Location Specificity

Prices in Nigeria vary significantly due to logistics, port fees, and distribution costs. A cement bag in Lagos (₦9,500) differs from Maiduguri or Sokoto. Every price entry clearly specifies the State, City, and Vendor Source.

3. Currency & FX Rates

Parallel market (BDC) currency rates are labeled separately from official CBN bank rates. Unofficial rates are never presented as official government rates.

4. Data Freshness Policy

Price records untouched for over 60 days automatically display an "Outdated" warning badge to prompt community updates.