Nigeria’s National Bureau of Statistics (NBS) has revealed that prices of selected food items in Nigeria have experienced a significant year-on-year increase, with major staples and groceries seeing over a 60% rise.
According to the November 2023 Selected Food Price Watch, the average price of 1kg of local rice sold loose stood at N867.18, marking a 73.16% increase from N500.80 in November 2022. Additionally, there was a 5.83% rise in the month-on-month price from N819.42 in October 2023.
The report highlighted a 29.61% year-on-year increase in the average price of 1kg of boneless beef, rising from N2,337.46 in November 2022 to N3,029.50 in November 2023. On a month-on-month basis, the item’s average price increased by 2.76% from N2,948.03 in October 2023.
“On a month-on-month basis, the average price of this item increased by 2.76% from N2,948.03 in October 2023.”
Brown beans (sold loose) witnessed a 44.99% year-on-year increase, going from N578.55 in November 2022 to N838.85 in November 2023. Month-on-month, there was a 6.18% rise from N790.01 in October 2023.
Similarly, the average price of 1kg onion bulb surged by 60.62% year-on-year, climbing from N425.71 in November 2022 to N683.78 in November 2023. On a month-on-month basis, there was a 15.35% increase.
Analysing by state, Imo recorded the highest price for 1kg of brown beans (sold loose) at N1,109.75, while Jigawa reported the lowest at N575.00. For 1kg onion bulb sold loose, Anambra had the highest average price at N872.23, and Gombe had the lowest at N506.41. Delta recorded the highest average price for 1kg of tomato at N1,505.16, with Kano having the least at N396.04.
Breaking down by zone, the South-West had the highest average price for 1kg of local rice sold loose at N956.28, followed by the South-South at N932.47, while the North-East recorded the lowest at N776.12.
For 1kg of boneless beef, the South-East and South-West reported the highest averages at N3,643.65 and N3,290.11, respectively, with the North-East recording the lowest at N2,632.22.
The South-East had the highest average price for 1kg of brown beans (sold loose) at N1,034.08, followed by the South-West at N977.98, while the North-West had the lowest at N663.96.
In terms of 1kg onion bulb, the South-East and South-South led with averages of N817.11 and N775.34, respectively, while the North-East reported the lowest at N529.95. The South-South had the highest average price for 1kg of tomato at N1,307.66, followed by the South-West at N1,047.18, with the North-West having the lowest at N434.80.