By Our Correspondent
The average price of some staple foods in Nigeria rose by 134.81 per cent on a year-on-year basis in February, according to the National Bureau of Statistics (NBS)’ latest report.
TheNewsZenith quotes from the reports that the Bureau indexed 44 food items for February 2024. Some of them are rice, beans, beef and white garri among others.
The Bureau’s ‘Selected Food Price Watch’ for February 2024, published on the NBS’s official website shows that the average price of one kilogramme of local rice sold loose stood at N1,222.97.
This indicates a rise of 134.81 per cent in price on a year-on-year basis from N520.84 recorded in February 2023 and a 19.69 per cent rise in price on a month-on-month basis from N1,021.79 in January 2024.
The average price of one kilogramme of beef boneless increased by 49.41 per cent on a year-on-year basis from N2,445.96 in February of last year to N3,654.56 in February 2024.
On a month-on-month basis, the average price of this item increased by 10.22 per cent from N3,315.78 in January 2024.
Also, the average price of one kg of brown beans (sold loose) rose by 98.25 per cent on a year-on-year basis from N594.15 in February 2023 to N1,177.93 in February 2024.
On a month-on-month basis, it increased by 20.62 per cent from N976.58 in January 2024.
Similarly, the average price of one kg of Garri white, sold loose rose by 109.16% on a year-on-year basis from N345.88 in February 2023 to N723.45 in February 2024, while there was an increase of 20.44 per cent on a month-on-month basis.
In addition, the average price of one kg of Yam tuber rose by 131.33 per cent on a year-on-year basis from N436.41 in February 2023 to N1009.56 in February 2024.
On a month-on-month basis, it increased by 11.93 per cent from N901.94 in January 2024 to N1009.56 in February 2024.
The state profile analysis in February 2024 reveals that the highest average price of one kg of local rice sold loose was recorded in Niger state at N1,670.96 while the lowest was recorded in Borno state at N936.14.
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The highest average price of one kg of boneless beef was recorded in Abia at N4,595.69 while the lowest was recorded in Kogi State at N2,680.03.
In terms of the average price of one kg of brown beans (sold loose), Nasarawa state recorded the highest price at N1,500.17, while Sokoto recorded the lowest price at N734.48.
Ogun state recorded the highest average price of one kg of white garri at N821.48, while the lowest was reported in Benue at N 480.32.
The highest average price of one kg of yam tuber was recorded in Bayelsa at N1,452.95, while the lowest average price was recorded in Borno at N626.59.
Also, analysis by zone showed that the average price of one kg local rice sold loose was highest in the South-west at N1,336.79, followed by the North-Central at N1,319.95. The North-West recorded the lowest average price at N1,073.92.
The average price of one kg of boneless beef was highest in the South-East and the South-West at N4,483.78 and N3,740.72, respectively.
Conversely, the lowest was recorded in the North-West with N3,315.50.
The South-South recorded the highest average price of one kg of brown beans (sold loose) at N1,395.23, followed by the South-East at N1,384.72 while the lowest was recorded in the North-East with N885.86.
The South-East and the South-South recorded the highest average price of one kg of white garri at N788.28 and N760.23, respectively, while the lowest was recorded in the North-central with N638.88.
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