In November 2023, Nigeria experienced a surge in the prices of essential food items such as beef, rice, beans, onion, and tomato, according to the latest report from the National Bureau of Statistics (NBS).
The NBS’s Selected Food Prices Watch report, released in Abuja on Friday, revealed regional disparities, with food prices generally lower in the Northeast and Northwest regions compared to the Southwest, Southeast, and South-south regions.
For instance, the average price of 1kg of boneless beef witnessed a substantial increase of 29.61%, soaring from N2,337.46 in November 2022 to N3,029.50 in November 2023. On a month-on-month basis, the price rose by 2.76% from October’s figure of N2,948.03.
Similarly, the average price of 1kg of local rice surged by 73.16% year-on-year, climbing from N500.80 in November 2022 to N867.18 in November 2023. On a monthly basis, the increase was 5.83%, rising from N819.42 in October 2023 to N867.18 in November 2023.
The report also highlighted the annual increases in the average prices of brown beans (44.99%), onion bulb (60.62%), and tomato (66.69%). On a month-on-month basis, these items saw increases of 6.18%, 15.35%, and 12.24%, respectively.
The analysis by zone indicated that the Southeast had the highest average price of 1kg of boneless beef at N3,643.65, followed by the Southwest at N3,290.11. Conversely, the Northeast recorded the lowest price at N2,632.22.
In the case of local rice, the Southwest and South-South regions had the highest average prices at N956.28 and N932.47, respectively, while the Northeast had the lowest at N776.12.
For brown beans, the Southeast led with an average price of N1,034.08, followed by the Southwest at N977.98, and the Northwest had the lowest at N663.96.
In terms of onion bulb prices, the Southeast and South-South regions recorded the highest averages at N817.11 and N775.34, respectively, while the Northeast had the lowest at N529.95.
Finally, the South-South recorded the highest average price of 1kg of tomato at N1,307.66, followed by the Southwest at N1,047.18, and the Northwest had the lowest price at N434.80, according to the NBS report.
In November 2023, Nigeria experienced a surge in the prices of essential food items such as beef, rice, beans, onion, and tomato, according to the latest report from the National Bureau of Statistics (NBS).
The NBS’s Selected Food Prices Watch report, released in Abuja on Friday, revealed regional disparities, with food prices generally lower in the Northeast and Northwest regions compared to the Southwest, Southeast, and South-south regions.
For instance, the average price of 1kg of boneless beef witnessed a substantial increase of 29.61%, soaring from N2,337.46 in November 2022 to N3,029.50 in November 2023. On a month-on-month basis, the price rose by 2.76% from October’s figure of N2,948.03.
Similarly, the average price of 1kg of local rice surged by 73.16% year-on-year, climbing from N500.80 in November 2022 to N867.18 in November 2023. On a monthly basis, the increase was 5.83%, rising from N819.42 in October 2023 to N867.18 in November 2023.
The report also highlighted the annual increases in the average prices of brown beans (44.99%), onion bulb (60.62%), and tomato (66.69%). On a month-on-month basis, these items saw increases of 6.18%, 15.35%, and 12.24%, respectively.
Regional variations were evident in the state profiles, with Anambra recording the highest average price of 1kg of boneless beef at N3,850.47, while Yobe had the lowest at N2,533.33. Lagos recorded the highest average price of 1kg of local rice at N1,122.42, whereas Kebbi had the lowest at N688.00.
The analysis by zone indicated that the Southeast had the highest average price of 1kg of boneless beef at N3,643.65, followed by the Southwest at N3,290.11. Conversely, the Northeast recorded the lowest price at N2,632.22.
In the case of local rice, the Southwest and South-South regions had the highest average prices at N956.28 and N932.47, respectively, while the Northeast had the lowest at N776.12.
For brown beans, the Southeast led with an average price of N1,034.08, followed by the Southwest at N977.98, and the Northwest had the lowest at N663.96.
In terms of onion bulb prices, the Southeast and South-South regions recorded the highest averages at N817.11 and N775.34, respectively, while the Northeast had the lowest at N529.95.
Finally, the South-South recorded the highest average price of 1kg of tomato at N1,307.66, followed by the Southwest at N1,047.18, and the Northwest had the lowest price at N434.80, according to the NBS report.In November 2023, Nigeria experienced a surge in the prices of essential food items such as beef, rice, beans, onion, and tomato, according to the latest report from the National Bureau of Statistics (NBS).
The NBS’s Selected Food Prices Watch report, released in Abuja on Friday, revealed regional disparities, with food prices generally lower in the Northeast and Northwest regions compared to the Southwest, Southeast, and South-south regions.For instance, the average price of 1kg of boneless beef witnessed a substantial increase of 29.61%, soaring from N2,337.46 in November 2022 to N3,029.50 in November 2023. On a month-on-month basis, the price rose by 2.76% from October’s figure of N2,948.03.Similarly, the average price of 1kg of local rice surged by 73.16% year-on-year, climbing from N500.80 in November 2022 to N867.18 in November 2023. On a monthly basis, the increase was 5.83%, rising from N819.42 in October 2023 to N867.18 in November 2023.The report also highlighted the annual increases in the average prices of brown beans (44.99%), onion bulb (60.62%), and tomato (66.69%). On a month-on-month basis, these items saw increases of 6.18%, 15.35%, and 12.24%, respectively.Regional variations were evident in the state profiles, with Anambra recording the highest average price of 1kg of boneless beef at N3,850.47, while Yobe had the lowest at N2,533.33. Lagos recorded the highest average price of 1kg of local rice at N1,122.42, whereas Kebbi had the lowest at N688.00.The analysis by zone indicated that the Southeast had the highest average price of 1kg of boneless beef at N3,643.65, followed by the Southwest at N3,290.11. Conversely, the Northeast recorded the lowest price at N2,632.22.In the case of local rice, the Southwest and South-South regions had the highest average prices at N956.28 and N932.47, respectively, while the Northeast had the lowest at N776.12.For brown beans, the Southeast led with an average price of N1,034.08, followed by the Southwest at N977.98, and the Northwest had the lowest at N663.96.In terms of onion bulb prices, the Southeast and South-South regions recorded the highest averages at N817.11 and N775.34, respectively, while the Northeast had the lowest at N529.95.Finally, the South-South recorded the highest average price of 1kg of tomato at N1,307.66, followed by the Southwest at N1,047.18, and the Northwest had the lowest price at N434.80, according to the NBS report.
