One major thing that has dominated public discourse in Nigeria in the past nine
months is the rise in food prices, even as the purchasing power of the citizenry
continues to slide. So, when the National Bureau of Statistics, NBS released its
findings for the last quarter, not many people were surprised about the rise in the
prices of commodities, particularly food items. What they did not know prior to the
NBS release must be the percentage of increase, and perhaps that in comparison
with the prices in the preceding years.
According to the National Bureau of Statistics the price of 1 kilogram (Kg)
of rice increased year-on-year, YoY, by 81 percent to N917.93 in December
2023 from N506.17 in the corresponding period of 2022.
The information is contained in NBS’ Selected Food Price Watch for
December 2023.
The Bureau’s findings showed that the average price of 1kg of Beans
brown (sold loose) rose by 48.5 percent YoY to N870.67 in December 2023
from N586.14 in December 2022. The average price of 1kg onion bulb rose
by 122.9 percent YoY to N971.86 in December 2023 from N435.93 in
December 2022.
Its research on Tomato, the Bureau found out that the average price of 1kg
of the commodity rose by 77.6 percent YoY to N814.16 in December 2023
from N458.42 in December 2022.
Now, part of the factors that push up the prices of these commodities is the
cost of transportation. So, NBS decided to look into that aspect where it
found that the prices haven risen so sharply must have contributed to the
high cost of food crops. Its Transport Fare Watch for December 2023
showed that transport fare for bus, motorcycle (Okada), air and water
transport journeys increased during the period.
“The average fare paid by commuters for bus journeys within the city per
drop declined to 13.83 percent from N1,047.64 in November to N902.70 in
December 2023. “On a YoY basis, it rose by 40 percent from N644.66 in
December 2022.
“In air travel, the average fare paid by air passengers for specified routes
single journey was N85,692.12 in December 2023, showing an increase of
5.36 percent while compared to previous month (November 2023).
“On a YoY basis, the fare rose by 14.8 percent from N74,597.30 in
December 2022. The average transport fare paid on Okada transportation
was N419.73 in December 2023 which declined by 11.29 percent when
compared with the value recorded in November 2023 (N473.13). On a YoY
basis, the fare declined by 9.04 percent when compared with December
2022 (N461.45).
“For water transport (waterway passenger transportation), the average fare
paid in December 2023 increased to N1,386.76 from N1,352.70 which
indicates an increase of 2.5 percent on a monthly basis.
“On a YoY basis, it increased by 34.77 percent from N1,029.00 in
December 2022.”
State analysis by average price:
1kg Local rice (sold loose)
Highest price: Federal Capital Territory – N1,250
Lowest price: Zamfara State – N696.55
1kg Tomato
Highest price: Delta State – N1,461.87
Lowest price: Borno State – N390.50
1kg Beans brown (sold loose)
Highest price: Akwa-Ibom State – N 1,120.92
Lowest price: Jigawa State – N586.04
1kg Beef boneless
Highest price: Osun State – N3,981.04
Lowest price: Gombe State – N2,600.00
