See more as data shows price of rice, beans, garri, egg other food items increase

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Nigerians paid more to buy food items in various markets across the country, the National Bureau of Statistics has revealed
The prices of several food items, such as rice, beans, garri, eggs, and others, have increased, according to the bureau
Since 2023, Nigerians living in rural and urban areas have been battling the high cost of living due to soaring food prices

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 released the December 2024 food price watch, which once again reflects the growing concerns about the affordability of essential food items for millions of Nigerians.

According to the report, the price of essential food items such as beans, rice, onion, and beef has increased.

For beans, the bureau stated that an average of 1kg Brown sold loose beans rose to N2,501.32, marking a 187.29% year-on-year increase from N870.67 in December 2023.

However, prices dropped slightly by 8.07% month-on-month compared to N2,720.96 recorded in November 2024.

Similarly, the price of 1kg of onion bulbs surged by 111.74% year-on-year, climbing from N971.86 in December 2023 to N2,057.81 in December 2024.

On a month-on-month basis, onions saw a 9.57% rise, with prices increasing from N1,878.00 in November 2024.

Palm oil (1 litre) also experienced a sharp increase, rising by 81.18% year-on-year to N2,582.35 from N1,425.32 in December 2023.

The price increased by 4.68% on a month-on-month basis, up from N2,466.79 in November 2024.

The report also showed a significant rise in the price of 1kg local rice (sold loose), which increased by 111.82% year-on-year to N1,944.40 from N917.93 in December 2023.

However, a marginal 0.79% drop was recorded on a month-on-month basis.

For 1kg of beef (boneless), the price climbed by 95.43% year-on-year, reaching N6,150.18 in December 2024, up from N3,146.94 in the previous year.

On a month-on-month, beef prices rose by 2.48%, compared to N6,001.32 in November 2024.

States with the highest, lowest prices

On state-by-state analysis, NBS revealed price differences for various food items.

NBS said Bauchi recorded the highest average price for 1kg of Beans (Brown) at N3,500.32, while Yobe reported the lowest at N1,755.63.

For Onion bulbs, the highest price was found in Ebonyi State at N3,286.92, and the lowest was in Borno State at N1,000.00.

Adamawa State topped the list for Palm oil (1 litre) at N3,350, while Niger State recorded the lowest price at N1,172.81.

In the case of Local rice (sold loose), Kogi led with the highest price of N2,738.22, while Benue reported the lowest at N1,296.57.

Price of food items by region

On regional analysis, the report showed that the South-South recorded the highest average price for Beans (Brown, sold loose) at N2,863.94, while the North-West had the lowest at N2,089.70.

For Onion bulbs, the South-East and South-South recorded the highest prices at N3,035.62 and N2,504.95, respectively, while the North-East recorded the lowest at N2,047.24.

In the case of Palm oil (1 litre), the North-West reported the highest price at N3,096.13, while the North-Central had the lowest at N2,007.89.