Nigerians paying more for rice, garri, yam as prices skyrocket, says NBS

Nigerians have been left with no choice but to pay exorbitant amounts for major food items such as beef, rice, beans, white garri, yam, and others as prices increased in April.

The National Bureau of Statistics (NBS) disclosed this in a report titled ‘Selected Food Prices Watch (April 2024),’ on Thursday.

According to the report, the average price of 1 kilogram (kg) of local rice stood at N1,399.34 last month – a month-on-month increase of 3.47 percent or N58.6, compared to the N1,340.74 recorded in March.

On a year-on-year basis, NBS reported an increase of 155.93 percent in price from N546.76 recorded in April 2023.

“The average price of 1kg of Garri white, sold loose increased by 134.98% on a year-on-year basis from N362.50 in April of last year (2023) to N851.81 in April 2024,” the bureau said.

“On a month-on-month basis, the average price of this item increased by 13.59% from N749.89 in March 2024. 

“The average price of 1kg of Tomato rose by 131.58% on a year-on-year basis from N485.10 in April 2023 to N1,123.41 in April 2024. On a month-on-month basis, it increased by 17.06% from N959.68 in March 2024.

“Furthermore, the average price of 1kg beans brown (sold loose) rose by 125.43% on a year-on-year basis from N615.67 in April 2023 to N1387.90 in April 2024, while there was an increase of 12.44% on a month-on-month basis.”

NBS said the average price of 1kg of Yam tuber increased by 5.76 percent to N1,130.37 in April, compared to the N1,0068.78 recorded the month before. 

On a year-to-year basis, 1kg of Yam tubers rose 154.19 percent from N444.69 in April last year to N1,130.37 last month.

PRICES OF RICE, GARRI AND BEANS BY STATE

According to state analysis, the bureau said Niger recorded the highest average price of 1kg local rice at N1,785.47, while the lowest was recorded in Benue at N993.72. 

“The highest average price of 1kg of Garri white, sold loose, was recorded in Bayelsa at N1,095.26 while the lowest was recorded in Benue state at N494.47,” the report said.

“In terms of the average price of 1kg of Tomato, Delta state recorded the highest price at N1,851.19, while Zamfara recorded the lowest price at N547.22. Abuja recorded the highest average price of 1kg beans brown (sold loose) at N2,288.36, while the lowest was reported in Yobe at N818.03.”

Based on the geopolitical zone, NBS said the average price of 1kg rice locally sold loose was highest in the south-west at N1,615.21, followed by the south-south at N1,564.85, while the north-west recorded the lowest average price at N1,163.13. 

The average price of 1kg of garri (white) was highest in the south-south and the south-west at N1,031.19 and N982.42, respectively, while the lowest was recorded in the north-west at N681.77.

“The south-south recorded the highest average price of 1kg of Tomato at N1,689.40, followed by the south-west at N1,429.06, while the lowest was recorded in the north-west with N615.54,” the bureau said.

“The north-central and the south-south recorded the highest average price of 1kg of beans brown (sold loose) at N1,594.84 and N1,579.64, respectively.”

NBS said the north-west recorded the lowest with N966.90 for 1kg of beans.

In the last consumer price index (CPI) for April, NBS said food inflation rose to 40.53 percent compared to the 24.61 percent reported in the same month last year — indicating an increase of 15.92 percent points.