There appears no hope in sight as recently released data by the National Bureau of Statistics (NBS) show that the prices of staple food – rice and beans have gone up by over 150 per cent between September 2023 and the corresponding period in 2024.
Both staples are a must on the average Nigerian daily meal. Garri, which used to bring succor to most homes has its price equally soaring.
According to the ‘Selected Food Price Watch’ for September 2024, released by NBS, the price of a 50 kg bag of local rice saw a massive jump of 152.9 per cent. It rose from N37,853 in September 2023 to N95,738 in September 2024.
The price of 1 kilogram of local rice also increased significantly. The report shows it now costs N1,914.77. The NBS stated, “The average price of 1kg Local rice sold loose went up by 152.92 per cent on a year-on-year basis from N757.06 in September 2023 to N1,914.77 in September 2024, while there was an increase of 4.57 per cent on a month-on-month basis.”
The report said there is also a significant rise in the price of other food items. For example, the price of 1kg of boneless beef increased by 99.99 per cent, going from N2,816.91 in September 2023 to N5,633.60 in September 2024.
On a month-to-month basis, it rose by 1.44 per cent from N5,553.80 in August 2024. Beans have also become more expensive. The price of 1kg of brown beans rose by 281.97 per cent year-on-year, from N716.97 in September 2023 to N2,738.59 in September 2024, and increased by 6.37 per cent from N2,574.63 in August 2024.
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