Nigeria Faces Hunger Crisis Rice At ₦95,738, Beans And Eggs Becoming Luxury Item See Prices 

Nigeria Faces Hunger Crisis Rice At ₦95,738, Beans And Eggs Becoming Luxury Item See Prices 

New data from the National Bureau of Statistics (NBS) reveals a sharp increase in the prices of local rice and beans over the last year. The NBS report, “Selected Food Price Watch” for September 2024, shows that a 50kg bag of local rice has surged by 152.9% year-on-year, now costing ₦95,738, compared to ₦37,853 in September 2023.……CONTINUE READING 

Additionally, the price of 1 kilogram of local rice has also skyrocketed, now selling at ₦1,914.77.

According to the NBS report, “The average price of 1kg of locally sold loose rice increased by 152.92% from ₦757.06 in September 2023 to ₦1,914.77 in September 2024, with a 4.57% rise month-on-month.”

The report further noted that the price of boneless beef increased by 99.99% year-on-year, now at ₦5,633.60, up from ₦2,816.91 in September 2023. Month-on-month, the price saw a 1.44% increase from ₦5,553.80 in August 2024.

Prices for other food items, such as brown beans and eggs, have similarly escalated. The price for 1kg of brown beans rose to ₦2,738.59, marking a 281.97% increase from ₦716.97 in September 2023 and a 6.37% rise from August 2024’s price of ₦2,574.63. Agric eggs, medium size (12 pieces), experienced a notable 137.43% jump from ₦1,047.47 last year to ₦2,487.04 in September 2024, with an 8.64% month-on-month rise.

Sliced bread prices saw a similar pattern, rising by 115.74% from ₦708.36 in September 2023 to ₦1,528.19 in September 2024, with a 4.68% increase from August.

The NBS report also provided a state-by-state breakdown, showing Bauchi as the state with the highest average price for 1kg of brown beans at ₦3,450.04, while Adamawa had the lowest at ₦1,800.

Niger State recorded the highest average price for a dozen eggs at ₦3,000.84, while Borno had the lowest at ₦2,075.58. Rivers State had the highest price for sliced bread at ₦1,852.50, and Yobe recorded the lowest at ₦982.79.

Kogi had the highest price for 1kg of local rice at ₦2,688.04, while Benue offered the lowest at ₦1,229.14.