A report released by the National Bureau of Statistics (NBS) has revealed that prices of basic food items like beans, eggs, bread, rice, and other essentials witnessed significant increases in Nigeria in October.
In its “Selected Food Prices Watch” released in Abuja on Tuesday noted that its month to month monitoring showed a steep rise in food prices with many Nigerians unable to buy simple food items for their families and households in the out gone month.
The report said that the average price of 1 kg of brown beans increased by 254.23 per cent from N790.01 recorded in October 2023 to N2,798.50 in October 2024.
“On a month-on-month basis, 1 kg of brown beans increased by 2.19 per cent in October from the N2,738.59 recorded in September 2024,” the report said.
“The average price of medium-sized Agric eggs (12 pieces) increased by 140.21 per cent on a year-on-year basis from N1,112.22 in October 2023 to N2,671.60 in October 2024.
“On a month-on-month basis, the eggs increased by 7.42 per cent from the N2, 487.04 recorded in September 2024.”
The report also stated that the average price of sliced bread increased by 103.76 per cent on a year-on-year basis from N760.82 in October 2023 to N1,550.24 in October 2024.
“On a month-on-month basis, the price increased by 1.44 per cent from the N1,528.19 recorded in September 2024.
“In addition, the average price of 1 kg of local rice rose by 137.32 per cent on a year-on-year basis from N819.42 recorded in October 2023 to N1,944.64 in October 2024.
“On a month-on-month basis, it increased by 1.56 per cent from N1,194.77 recorded in September 2024.”
The report further said that the average price of 1kg of boneless beef increased by 98.73 per cent on a year-on-year basis from N2,948.03 in October 2023 to N5,858.58 in October 2024.
“On a month-on-month basis, the price increased by 3.99 per cent from the N5,633.60 recorded in September 2024.”
Giving a detailed state by state breakdown, the report showed that in October 2024, the highest average price of 1 kg of brown beans was recorded in Bauchi at N3,750.00, while the lowest was recorded in Yobe at N1,749.52.
“Niger State recorded the highest average price of medium-size Agric eggs (12 pieces) at N3,450.00, while the lowest was in Adamawa at N2,050.00.
“The highest average price of sliced bread was recorded in Rivers at N1,867.14, while the lowest price was recorded in Yobe at N960.07.
“Kogi recorded the highest average price of 1 kg of local rice (sold loose) at N2,693.41, while the lowest was reported in Benue at N1,267.25.
“Analysis by zone showed that the average price of 1 kg of brown beans was highest in the South-South at N3,274.39, followed by the North-Central at N2,990.02. The lowest price was recorded in the North-East at N2,294.29.
“The North-Central and South-East recorded the highest average price of medium-size agric eggs (12 pieces) at N2,915.58 and N2,879.24, respectively, while the lowest price was in the South-West at N2,472.94.
“The South-South recorded the highest average price of sliced bread at N1,829.25, followed by the South-East at N1,665.56, while the North-East recorded the lowest price at N1,360.85, while the South-East and the South-West recorded the highest average price of 1 kg of local rice (sold loose) at N2,146.08 and N2,011.05, respectively.
“The North-West recorded the lowest price of 1 kg of local rice (sold loose) at N1,763.62,” the report said.