Sharp Increase in Prices of Staple Food Items

Staple food items such as rice, beans, tomatoes, and garri have seen significant price hikes, affecting both urban and rural populations across the country.

• A 50kg bag of rice now costs between ₦78,000 and ₦96,000, depending on the brand and quality. Locally produced rice is slightly cheaper than imported varieties, but high production costs keep prices elevated.
• Brown beans from Maiduguri are priced at ₦90,000 for a 50kg bag, while the sweet pure butter beans variety is even more expensive at ₦160,000.

Tomato Prices Soar Amid Seasonal and Supply Chain Challenges

The price of tomatoes has also surged, with a large basket of fresh derica tomatoes now costing ₦160,000, while a medium-sized basket goes for ₦95,000. This sharp rise is attributed to seasonal fluctuations, transportation costs, and supply chain disruptions.

Garri, Palm Oil, and Processed Food Prices Rise

Garri, a widely consumed staple, has also become more expensive, with a 50kg bag now priced at ₦55,000. Meanwhile, palm oil, an essential cooking ingredient in Nigerian households, is now selling for ₦10,500 per 5-liter gallon, with price variations depending on location and production costs.

Processed food products are following the same trend. For instance, a carton of Golden Penny Spaghetti (500g × 20) is now priced at ₦28,000, reflecting a notable increase.

Impact of Rising Food Prices on Nigerian Households

The surge in food prices is creating serious financial hardship for Nigerian families, as many struggle to keep up with the rising costs of basic items. The price hikes are attributed to various factors, including rising production costs, supply chain disruptions, and inflationary pressures.

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