The National Bureau of Statistics unveiled its Selected Food Prices Watch report for November 2023, revealing a concerning surge in the prices of essential commodities across Nigeria.
The report, made public in Abuja on Friday, disclosed notable variations in food prices across different regions of the country.
According to the report, the Northeast and Northwest regions experienced relatively lower prices for food items compared to the Southwest, Southeast, and South-South regions.
Notably, the average price of 1kg of boneless beef witnessed a substantial increase of 29.61%, surging from N2,337.46 in November 2022 to N3,029.50 in November 2023.
This surge was indicative of a broader trend affecting various staples, including rice, beans, onions, and tomatoes, contributing to an overall spike in the cost of living for Nigerians.
“On a month-on-month basis, the price of 1 kg of boneless beef increased by 2.76 percent in November from the N2,948.03 recorded in October,” it stated in its Selected Food Prices Watch report released in Abuja on Friday.
It was reported that the average price of 1kg of locally produced rice surged by 73.16% year-on-year, rising from N500.80 in November 2022 to N867.18 in November 2023.
On a month-to-month basis, the price increased by 5.83%, moving from N819.42 in October 2023 to N867.18 in November 2023.
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Similarly, the average price of 1kg of brown beans increased by 44.99% on a year-on-year basis, escalating from N578.55 in November 2022 to N838.85 in November 2023.
Month-on-month, the price rose by 6.18% from N790.01 in October 2023 to N838.85 in November 2023.
The report also highlighted a 60.62% annual increase in the average price of 1kg of onion bulb, surging from N425.71 in November 2022 to N683.78 in November 2023.
On a monthly basis, the price rose by 15.35%, moving from N592.80 in October 2023 to N683.78 in November 2023.
Furthermore, the average price of 1kg of tomato increased by 66.69% year-on-year, climbing from N455.13 in November 2022 to N758.65 in November 2023.
On a monthly basis, it rose by 12.24% from N675.91 in October to N758.65 in November 2023.
In terms of regional variations, the state profile analysis revealed that Anambra recorded the highest average price of 1kg of boneless beef at N3,850.47, while Yobe had the lowest at N2,533.33.
Lagos topped the list for the highest average price of 1kg of local rice at N1,122.42, with Kebbi having the lowest at N688.00.
Imo had the highest average price of 1kg of brown beans at N1,109.75, while Jigawa had the lowest at N575. Anambra recorded the highest average price of 1kg of onion bulb at N872.23, and Gombe had the lowest at N506.41.
Delta had the highest average price of 1kg of tomato at N1,505.16, while Kano had the lowest at N396.04.
Analyzing by zones, the Southeast had the highest average food price of 1kg of boneless beef at N3,643.65, followed by the Southwest at N3,290.11.
Conversely, the Northeast had the lowest price at $2,632.22.
The Southwest and South-South recorded the highest average price of 1kg of local rice at N956.28 and N932.47, respectively, while the Northeast had the lowest at N776.12.
The Southeast had the highest average price of 1kg of brown beans at N1,034.08, followed by the Southwest at N977.98, while the Northwest had the lowest price at N663.96.
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 South-South had the highest average price of 1kg of tomato at N1,307.66, followed by the Southwest at N1,047.18, with the Northwest recording the lowest price at N434.80, according to the NBS. #Food Prices