The price of Nigeria’s beloved instant noodle brand, Indomie, has skyrocketed to between N17,500 and N18,000 per carton (120g super pack), a notable increase from N11,140 recorded on February 13, 2024.
A recent market survey conducted by DAILY POST across various markets, including Wuse, Dutse, and Utako revealed a significant 38.1% surge in Indomie prices within two weeks.
Comparatively, this new price marks a staggering 67% increment from the N6,000 per carton rate observed in February of the previous year.
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Digging deeper into the analysis, it was found that the cost of a single pack of Indomie (Super pack) had risen from N350 to N500 within the same two-week period, while alternative noodle brands are sold at N450.
This surge in noodle prices poses a considerable financial burden on Nigerians, especially those earning the minimum wage of N30,000, who would now need to allocate N18,500 solely for the purchase of a carton of noodles.
The surge in food prices is indicative of the broader issue of inflation, as data from the National Bureau of Statistics reveals a food inflation rate of 35.42% in January.
Moreover, predictions from organisations such as the Food and Agricultural Organisation (FAO) and the World Food Programme (WFP) had earlier foreseen an escalation in staple food prices not only in Nigeria but also across other West African countries.
In response to the growing economic challenges, Nigerians have voiced their grievances, expressing frustration over the perceived hardships under Bola Ahmed Tinubu’s administration. Protests have erupted in states such as Niger, Kogi, and Oyo, with increasing calls for civil action.
In an attempt to address the crisis, the federal government had announced plans to release 42,000 metric tonnes of grains and pledged to reduce the prices of staple foods on February 14.
However, despite this promise, citizens are yet to witness tangible benefits from the implementation of these measures, further exacerbating the strain on their livelihoods.
