By Milcah Tanimu

The National Bureau of Statistics (NBS) has reported a significant rise in the prices of staple food items such as rice, tomatoes, garri, and beans in May 2024. This trend is documented in the “Selected Food Price Watch (May 2024)” report, recently published on the NBS website.

Over the past few years, escalating food prices have been a major issue in Nigeria, exacerbated by farmers abandoning their fields due to widespread insecurity. The situation worsened last year following the removal of fuel subsidies by the Bola Tinubu administration, leading to increased costs for transportation and electricity.

According to the NBS report, the average price of 1kg of local rice reached N1,608.89 in May 2024, representing a 189.79% year-on-year increase from N555.18 in May 2023 and a 14.98% month-on-month increase from N1,399.34 in April 2024. Similarly, the price of 1kg of brown beans rose by 219.05% year-on-year, from N629.75 in May 2023 to N2,009.23 in May 2024, and saw a 44.77% increase from N1,387.90 in April 2024.

Tomato prices also surged, with 1kg rising by 196.92% year-on-year from N498.34 in May 2023 to N1,479.69 in May 2024, and a 31.71% increase from N1,123.41 in April 2024. The average price of 1kg of garri increased by 200.12% year-on-year from N371.42 in May 2023 to N1,114.72 in May 2024, and by 30.87% month-on-month.

A tuber of yam, a common substitute for rice, saw its price increase by 189.20% year-on-year from N457.25 in May 2023 to N1,322.36 in May 2024, with a 16.98% increase from N1,130.37 in April 2024.

At the state level, Kogi State recorded the highest average price for 1kg of local rice at N2,528.84, while Benue State had the lowest at N1,013.59. Plateau State had the highest average price for 1kg of brown beans at N2,855, whereas Kebbi State recorded the lowest at N1,171.21. Rivers State had the highest average price for 1kg of tomatoes at N2,100.12, while Katsina had the lowest at N775.02. Gombe recorded the highest price for 1kg of white garri at N1,613.29, with Kwara reporting the lowest at N825.70.

Regionally, the highest average price for 1kg of local rice sold loose was in the Northeast at N1,821.77, followed by the Southwest at N1,698.53, with the Southeast having the lowest at N1,328.44. The North-Central and South-South regions recorded the highest prices for 1kg of brown beans at N2,574.52 and N2,293.03, respectively, while the North-West had the lowest at N1,379.97. The highest prices for 1kg of tomatoes were found in the South-South at N2,053.59 and the South-East at N1,643.76, with the lowest in the Northeast at N1,050.84. The Southwest and Northeast had the highest prices for 1kg of white garri at N1,294.51 and N1,138.62, respectively, with the North-Central recording the lowest at N1,021.20.

This sharp rise in food prices highlights the urgent need for measures to address the underlying causes, including improving security and stabilizing economic policies.