Nigeria Registers Increase in Food Prices –Statistics Office
Nigeria registered an increase in food prices in November, according to data released by the statistics office. The National Bureau of Statistics (NBS) said prices of beef, rice, beans, onion, tomato, and other food items increased in November 2023.
Average price of 1kg of boneless beef increased by 29.61 per cent from N2,337.46 recorded in November 2022 to N3,029.50 in November 2023.
“On a month-on-month basis, the price of 1kg boneless beef increased by 2.76 per cent in November from the N2,948.03 recorded in October,’’ it stated in its Selected Food Prices Watch report for November released in Abuja on Friday.
It added that the average price of 1kg of local rice increased by 73.16 per cent on a year-on-year basis from N500.80 recorded in November 2022 to N867.18 in November 2023. On a month-on-month basis, price of 1kg of local rice increased by 5.83 per cent from the N819.42 recorded in October 2023 to N867.18 recorded in November 2023.
The average price of 1kg of brown beans increased by 44.99 per cent on a year-on-year basis from N578.55 in November 2022 to N838.85 in November 2023, the NBS added. On a month-on-month basis, the price increased by 6.18 per cent from the N790.01 recorded in October 2023 to N838.85 in November 2023.
The report also stated that the average price of 1kg of onion bulb rose by 60.62 per cent on a year-on-year basis from N425.71 in November 2022 to N683.78 in November 2023.
On a month-on-month basis, the price increased by 15.35 per cent from N592.80 recorded in October 2023 to N683.78 recorded in November 2023. The average price of 1kg of tomato increased by 66.69 per cent on a year-on-year basis from N455.13 in November 2022 to N758.65 in November 2023, it stated.
On a month-on-month basis, 1kg of tomato increased by 12.24 per cent from the N675.91 recorded in October to N758.65 in November 2023. The state profile analysis showed that the highest average price of 1kg of boneless beef was recorded in Anambra at N3,850.47, while the lowest price was in Yobe at N2,533.33.
The NBS stated that Lagos recorded the highest average price of 1kg of local rice at N1,122.42, while the lowest was recorded in Kebbi at N688.00. It added that the highest average price of 1kg of brown beans was recorded in Imo at N1,109.75 while the lowest price was recorded in Jigawa at N575.
The average price of 1kg of onion bulb was recorded in Anambra at N872.23, while the lowest was in Gombe at N506.41.
The report indicated that Delta recorded the highest average price of 1kg of tomato at N1,505.16, while Kano recorded the lowest price at N396.04. Analysis by zone showed that the average price of 1kg of boneless beef was highest in the Southeast at N3,643.65, followed by the Southwest at N3,290.11.
The lowest price was recorded in the Northeast at N2,632.22. The Southwest and South-South recorded the highest average price of 1kg of local rice at N956.28 and N932.47, respectively, while the lowest price was in the Northeast at N776.12.
The report stated that the Southeast recorded the highest average price of 1kg of brown beans at N1,034.08, followed by the Southwest at N977.98, while the North-West recorded the lowest price at N663.96
It added that the Southeast and South-South recorded the highest average price of 1kg of onion bulb at N817.11 and N775.34, respectively, while the lowest was recorded in the Northeast at N529.95.
The NBS stated also that the South-South recorded the highest average price of 1kg of tomato at N1,307.66, followed by the Southwest at N1,047.18. “The Northwest recorded the lowest price of 1kg of tomato at N434.80,’’ the NBS stated. BUA Reduces Cement Price, Plans Further Review
