July 21, 2024
Staple Food Prices Increased By Over 10% Across Nigeria In February, Says NBS
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Staple Food Prices Increased By Over 10% Across Nigeria In February, Says NBS

Major staple food prices across Nigeria increased by double figures month-on-month according to the National Bureau of Statistics, NBS, in its latest food price watch.

In its report, the NBS says on the average, Food such as Garri, Rice, Beans, Beef, bread increased by as much as 25% with the lowest around 10% between January and February 2024.

The average price of 1kg of loose local rice increased by 19.69% from N1,021 sold in January 2024 to N1,222.97 in the month of February.

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1kg of brown Beans increased from N976 in January 2024, to N1,177 in February. This indicates an increase of 20.62% in one month. On an annual basis, the price of 1kg brown beans jumped from N594 in February 2023 to its current price.

The average price of a 500g sliced bread rose from N 904 in January 2024, to N1,047 in February. This represents an increase of 15.91% between January and February.

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