See list of 10 states residents with highest food prices in Nigeria

• Once again, Nigerians were forced to pay more for food across the country when compared to the previous year
• New data from the NBS has revealed a list of states in Nigeria where residents are experiencing the fastest increase in food prices
• The current level of food prices show that more Nigerians are getting poorer and highlight the urgent need for the federal government to find a solution quickly

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The National Bureau of Statistics (NBS) has revealed that the food inflation rate in May 2024 rose to was 40.66% on a year-on-year basis.

The new food inflation rate is 115.84% points higher compared to the rate recorded in May 2023 (24.82%).

Buying food continue to get more expensive for Nigerians Photo credit: NBS
Source: Getty Images

However on a month-on-month basis, the food inflation rate in May 2024 shows a decrease of 0.22% compared to the rate recorded in April 2024 (2.50%).

NBS disclosed this in its consumer price report for May 2024 published on its website.

Breakdown of state food price changes

The report stated that the rise in food inflation on a year-on-year basis was caused by increases in prices of the following items

The NBS listed the food items as semovita, oatflake, yam flour prepackaged, garri, and beans (which are under the bread and cereals class); Irish potatoes, yam, and water yam (under the potatoes, yam, and other tubers class).

Others are palm oil and vegetable oil (under the oil and fats class); stockfish, mudfish, and crayfish (under the fish class); and beef head, chicken-live, pork head, and bush meat (under the meat class).

Furthermore, NBS noted:

"The fall in food inflation rate on a month-on-month basis was caused by a decrease in the rate of increase in the average prices of Palm oil and Groundnut oil (under the Oil and Fats class); Yam, Irish potatoes, and Cassava tuber (under the Potatoes, Yam, and Other Tubers class); and Wine, Bournvita, Milo, and Nescafe (under the Coffee, Tea, and Cocoa class)."

Here are the top 10 states with highest food inflation

Here is a breakdown of the states with the highest food inflation rate in May 2024.

Kogi: 46.32%

In the last few months, Kogi State has led the table with the highest food inflation rate as the state continues to battle challenges of insecurity and continuous clashes between farmers and herders.

Over the years, agriculture has been key to the socio-economic development of Kogi, but in the last few months, life has been toughest for residents when buying food compared to other states.

Ekiti: 44.94%

Ekiti State is the second state with the highest food inflation rate in May 2024, despite being blessed with fertile land.

The onus is now on Biodun Oyebanji, the state governor, to find a way to harness the rich agricultural economy of the state to bring down food prices.

Other top 10 states with highest food inflation rate is in table below:

Rank	State	Food inflation rate May 2024
3rd	Kwara	44.66%
4th	Osun	44.57%
5th	Edo	44.42%
6th	Enugu	44.42%
7th	Imo	44.32%
8th	Cross River	44.24%
9th	Abia	44.02%
10th	Akwa Ibom	43.83%

Rice prices for different brands

Legit.ng earlier revealed that the market prices of 50kg bags of top rice brands are fast becoming unaffordable for most citizens.

For example, some retailers in Nigeria have reported that the price of Mama Gold Rice has risen to about N78,500 in Lagos.

A 50kg bag of Stallion brand sells for N77,000 to N80,000, depending on the location and grain type.

Source: Legit.ng