Abuja, Nigeria – July 23, 2024 – The National Bureau of Statistics (NBS) has reported unprecedented increases in food prices across Nigeria, highlighting significant year-on-year and month-on-month surges in essential commodities for June 2024.
According to the NBS’s Selected Food Prices Watch report released on Tuesday, the average price of 1 kilogram of brown beans surged by a staggering 252.13% from N651.12 in June 2023 to N2,292.76 in June 2024. This represents a 14.11% increase from the previous month’s price of N2,009.23.
Tomatoes, another staple, saw an even steeper rise. The average price for 1 kilogram increased by 320.67% from N547.28 in June 2023 to N2,302.26 in June 2024. Month-on-month, the price of tomatoes jumped by 55.97% from N1,479.69 in May 2024.
Irish potatoes also experienced a significant price hike, with the average cost of 1 kilogram climbing by 288.50% from N623.75 in June 2023 to N2,423.27 in June 2024.
White garri saw a year-on-year increase of 181.66%, with 1 kilogram rising from N403.15 in June 2023 to N1,135.51 in June 2024. On a month-on-month basis, the price of white garri went up by 1.86% from N1,114.72 in May 2024.
Yam tubers, essential in Nigerian diets, saw a 295.79% increase, with 1 kilogram rising from N510.77 in June 2023 to N2,021.55 in June 2024.
The report also includes state-specific data, revealing that Kogi recorded the highest average price for 1 kilogram of brown beans at N3,006.43, while Adamawa had the lowest at N1,336.11.
For tomatoes, Abuja had the highest average price at N3,992.61, and Kebbi the lowest at N1,200. Lagos reported the highest price for yam tubers at N3,376.54, compared to the lowest in Adamawa at N1,100. Gombe had the highest average price for white garri at N1,619.27, while Taraba had the lowest at N900.
Zone-wise analysis showed that the North-Central recorded the highest average price for brown beans at N2,923.45, and the South-South followed at N2,630.03. The South-West and South-East had the highest average prices for tomatoes at N3,261.84 and N2,852.59, respectively, whereas the North-West had the lowest at N1,411.16.
For yam tubers, the South-West led with N2,745.80, followed by the North-Central at N2,440.35, and the North-West recorded the lowest at N1,238.49. The South-West and North-East had the highest prices for white garri at N1,199.62 and N1,155.63, respectively.
In response to the soaring food prices, the Federal Government has introduced a 150-day duty-free import window for essential food commodities, including maize, cowpeas, wheat, and husked brown rice.
This measure aims to alleviate the impact of rising food prices and ensure food security. However, experts argue that more sustainable solutions are needed, such as addressing insecurity, foreign exchange issues, and transportation costs, to effectively combat the escalating food prices and achieve long-term food security.
This article was created using automation technology and was thoroughly edited and fact-checked by one of our editorial staff members
