NBS – Prices Of Rice, Beans, Garri, Others Rose In March

NBS – Prices Of Rice, Beans, Garri, Others Rose In March

A recent report from the National Bureau of Statistics (NBS) has brought attention to a significant surge in the prices of essential food items across Nigeria. Staple foods such as beef, rice, beans, garri, and yam have experienced substantial increases in prices over the past year, indicating a concerning trend in food inflation……READ ALSO NBS Report: Food Inflation Surges, Prices Of Garri, Yam, And Akpu Soar

According to the NBS’s Selected Food Prices Watch for March 2024, released in Abuja, the average price of boneless beef per kilogram skyrocketed by 73.78% year-on-year, reaching ₦4,309.16 in March 2024 from ₦2,479.61 in March 2023. The month-on-month increase alone was 17.91% from February 2024.

The report also highlighted dramatic increases in the prices of other staple foods. The price of 1kg of local rice surged by 152.93% year-on-year, brown beans increased by 106.78%, white garri by 112.34%, and yam tubers by 141.25% over the same period.

Geographical disparities were evident in food prices across states and zones. For example, Kwara State recorded the highest average price for 1kg of boneless beef at ₦5,500, while Benue had the lowest at ₦3,400.22. Niger State saw the highest price for 1kg of local rice at ₦1,699.98, whereas Benue recorded the lowest at ₦985.83.

Zone-wise, the South-South region registered the highest average price for 1kg of boneless beef, and the South-West and South-South zones had the highest prices for local rice. The South-East showed the highest prices for brown beans.

The report underscores growing concerns about food affordability and access in Nigeria, with rising prices posing significant challenges for households already grappling with economic uncertainties.

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