adplus-dvertising
Politics

Prices Of Rice, Garri, Yam Soar, Putting Strain On Nigerian Consumers – NBS Data Shows

Food Inflation in Nigeria 1 1

Nigerians were forced to pay inflated prices for essential foods like beef, rice, beans, white garri, and yam in April.

The National Bureau of Statistics (NBS) revealed this in its report, ‘Selected Food Prices Watch (April 2024),’ which was released on Thursday.

The report indicated that the average price of 1 kilogram (kg) of local rice reached ₦1,399.34 last month, marking a 3.47 percent or N58.6 increase from the ₦1,340.74 recorded in March.

According to the NBS, prices rose by 155.93 percent year-on-year from ₦546.76 in April 2023.

The average price of 1kg of Garri white, sold loose increased by 134.98% on a year-on-year basis from ₦362.50 in April of last year (2023) to ₦851.81 in April 2024.

“On a month-on-month basis, the average price of this item increased by 13.59% from ₦749.89 in March 2024. 

“The average price of 1kg of Tomato rose by 131.58% on a year-on-year basis from ₦485.10 in April 2023 to ₦1,123.41 in April 2024. On a month-on-month basis, it increased by 17.06% from ₦959.68 in March 2024.

“Furthermore, the average price of 1kg brown beans (sold loose) rose by 125.43% on a year-on-year basis from ₦615.67 in April 2023 to ₦1387.90 in April 2024, while there was an increase of 12.44% on a month-on-month basis,” the bureau said.

The NBS highlighted a 5.76 percent rise in the average price of 1kg of Yam tuber to ₦1,130.37 in April, marking an increase from the ₦1,068.78 recorded in the previous month.

From April of the previous year to last month, the price of 1kg of Yam tubers skyrocketed by 154.19 percent, rising from ₦444.69 to ₦1,130.37.

The NBS provided insights into the prices of essential food items across states and geopolitical zones. 

Niger had the highest average price of 1kg of local rice at ₦1,785.47, while Benue recorded the lowest at ₦993.72. 

Bayelsa recorded the highest average price for 1kg of Garri white, and Delta recorded the highest average price for 1kg of Tomato. 

Abuja recorded the highest average price of 1kg of brown beans, while Yobe reported the lowest. 

Food inflation rose to 40.53 percent compared to the previous year, indicating a significant increase.

WATCH NOW

DOWNLOAD NOW