The prices of essential food items like rice, beans, eggs, and bread are continuing to rise in Nigeria, even as prices for some other food commodities have fallen.
This worrying trend was revealed in the latest report from the Nigerian Bureau of Statistics (NBS) titled, “Selected Food Price Watch for August 2024,” released recently.
According to the report, prices for local rice, beans, eggs, and bread increased by between 2.5% and 5.5% in August.
The situation highlights the challenges many Nigerians face when it comes to food affordability.
The report specifically detailed the price changes for several staple foods.
The average price of 1kg of brown beans sold loose has risen to N2,574.63, marking a 5.31% increase from July’s price of N2,444.81.
In the case of eggs, the average price for a dozen medium-sized agricultural eggs increased by 5.48%, rising to N2,289.19 from N2,170.17 in July.
Bread also saw a notable rise, with sliced bread costing an average of N1,459.85 in August, which is up 2.28% from the previous month’s price of N1,427.25.
Local rice has not been spared either; its price has climbed by 3.65%, reaching an average of N1,831.05 per kg compared to N1,766.64 in July.
These consistent price rises present a stark contrast to the overall market trend of falling food prices.
The NBS report indicated that the prices of these essential food items have more than doubled over the past year.
“Prices increased by over 100% year-on-year,” the report stated, underscoring the growing burden on Nigerian households.
This dramatic rise in prices for staples like rice, beans, and eggs is a concern for families trying to manage their budgets.
The report also highlighted significant regional differences in food prices across Nigeria.
For example, Akwa Ibom state recorded the highest average price for 1kg of brown beans at N3,276.79, while Adamawa state had the lowest at N1,710.92.
In terms of eggs, Niger state had the highest price for a dozen medium eggs at N2,996.92, compared to Jigawa state, where they were priced at N1,786.01.
For bread, Rivers state topped the list with an average price of N1,850, while Yobe state had the lowest at N908.81.
Similarly, Kogi state recorded the highest average price for 1kg of local rice at N2,680.29, while Benue state reported the lowest at N1,206.84.
These disparities reflect the local economic conditions, supply chains, and demand fluctuations across different regions.
Interestingly, the NBS also reported a decline in prices for some other staple food items, including tomatoes and yams.
The price of tomatoes dropped significantly, with a 1kg portion now costing an average of N1,506.35, down 11.07% from July’s price of N1,693.83.
Yams also saw a decrease, with the price for 1kg falling by 7.8% to N1,661.80 from N1,802.84 in the previous month.
This mixed bag of price trends raises questions about the overall stability of the Nigerian food market.
The rising costs of rice, beans, eggs, and bread have serious implications for many Nigerians.
As staple foods, these items form the foundation of most Nigerian diets, and their increasing prices are straining household budgets.
