Amidst Nigeria’s persistent economic challenges, the prices of staple food items have continued to climb sharply, according to the latest report by the National Bureau of Statistics (NBS).
The “Selected Food Price Watch” report for September 2024, published on the NBS website, highlights a substantial increase in the prices of key staples such as rice, beans, eggs, and bread, adding further pressure on household incomes.
The report reveals that the cost of a 50 kg bag of local rice skyrocketed by an astonishing 152.9% from September 2023, where it was priced at N37,853, to N95,738 in September 2024.This increase is consistent with broader trends in food pricing. For instance, the price of 1 kg of loose local rice rose by more than 152%, climbing to N1,914.77 from N757.06 in the previous year.
The surge in bean prices was especially concerning, showing a year-on-year increase exceeding 200%. According to the NBS, “The average price for 1kg of loose brown beans reached N2,738.59, marking a significant rise of 281.97% from N716.97 in September 2023.”
Furthermore, key food staples like beef, eggs, and bread faced significant inflation. The price of 1kg of boneless beef nearly doubled, increasing by 99.99% from N2,816.91 in September 2023 to N5,633.60 in September 2024. Meanwhile, a carton of medium-sized agricultural eggs saw a rise of 137.43%, reaching N2,487.04.
The highest price fluctuations were observed in Bauchi, where loose brown beans cost N3,450.04 per kilogram, and in Kogi, where local rice was priced at N2,688.04 per kilogram. Conversely, certain states, such as Adamawa and Benue, experienced comparatively lower food prices.
As food inflation continues to rise, Nigerian households are bearing the brunt, raising concerns over food security and access to basic nutrition across the country.
