The rage of hunger in Nigeria is pushing emotions out of control. That is why there are fears that the #endbadgovernance planned to take off on August 1st could snowball into chaos that is capable of disrupting lives and property in the country. The problem is food prices keep rising even as purchasing power is on the decline. The attendant inflation is a thing of concern for the government and the people, raising concerns about the capability of the new administration to manage the economy. For instance, the National Bureau of Statistics, NBS says within a period of 12 months (June 2023- June 2024) the price of beans, tomatoes and yam rose by over 250 per cent.
This is contained in the NBS Selected Food Prices Watch report for June 2024 released in Abuja. The increasing cost of food items in the country, particularly since last year, has become a serious cause for concern.
Though the challenge was there before President Bola Tinubu offered himself for service, the situation was complicated by the removal of petroleum subsidy and the harmonisation of the national currency. The effect on transportation, which is a major factor in the movement of the commodities from the point of production to the markets, has a telling effect on food items and other commodities. Imported food items and drugs went out of reach of the people. The initial policy designed to encourage local production by stopping importation of commodities produced in Nigeria had to be suspended.
BUSHLINK reports that the federal government in a bid to address the persistent increase in food prices in July announced a 150-day duty-free import window for maize, cowpeas, wheat, and husked brown rice food commodities. Before the free import duty tariff, the average price of 1kg of brown beans increased by 252.13 per cent from N651.12 recorded in June 2023 to N2,292.76 in June 2024. NBS reported that “On a month-on-month basis, 1kg of brown beans increased by 14.11 per cent in June from the N2,009.23 recorded in May 2024.”
It said that the average price of 1kg of tomatoes increased by 320.67 per cent on a year-on-year basis from N547.28 recorded in June 2023 to N2,302.26 in June 2024. The report again: “On a month-on-month basis, 1kg of tomatoes increased by 55.97 per cent from the N1,479.69 recorded in May 2024”.
The report said that the average price of Irish potatoes increased by 288.50 per cent on a year-on-year basis from N623.75 in June 2023 to N2,423.27 in June 2024. Also, the average price of 1kg of white Garri on a year-on-year basis rose by 181.66 per cent from N403.15 in June 2023 to N1,135.51 in June 2024.
On a month-on-month basis, 1kg of white garri increased by 1.86 percent from N1,114.72 recorded in May 2024. In addition, the average price of 1kg of yam tuber rose by 295.79 per cent on a year-on-year basis from N510.77 recorded in June 2023 to N2,2021.55 in June 2024.
On a state basis, the report showed that in June 2024, the highest average price of 1kg of brown beans was recorded in Kogi at N3,006.43, while the lowest was recorded in Adamawa at N 1,336.11. It also said that Abuja recorded the highest average price of 1kg of tomato at N3,992.61, while the lowest was recorded in Kebbi at N1,200.
The data from NBS further showed that the highest average price of 1kg of yam tuber was recorded in Lagos at N3,376.54, while the lowest price was recorded in Adamawa at N1,100. According to the report, Gombe recorded the highest average price of 1kg of white garri at N1,619.27, while the lowest was reported in Taraba at N900.
Analysis by zone showed that the average price of 1kg of brown beans was highest in the North-Central at N 2,923.45, followed by the South-South at N 2,630.03. The South-West and South-East recorded the highest average price of 1kg of tomatoes at N3,261.84 and N2,852.59, respectively, while the lowest price was in the North-West at N1,411.16.
The report said that the South-West recorded the highest average price of 1kg of yam tuber at N2,745.80, followed by the North-Central at N 2,440.35, while the North-West recorded the lowest price at N1,238.49. The NBS said also that the South-West and the North-East recorded the highest average price of 1kg of white Garri at N1,199.62 andN1,155.63, respectively.
