In May 2024, Nigeria experienced a headline inflation rate of 33.95%, up from 22.41% in May 2023, reflecting significant economic pressures. Food inflation reached a striking 40.66%, a notable increase from 24.82% the previous year, according to data from the National Bureau of Statistics (NBS)......Read The Full Article>>.....Read The Full Article>>
This surge in food prices is primarily attributed to high costs in categories like cereals, tubers, oils, and meats. However, month-on-month food inflation slightly eased to 2.28%, down from 2.50% in April 2024.
Amid Nigeria’s high inflation, below are the 10 most expensive staple foods, placing substantial pressure on household budgets across the country.
#10 Broken Rice (Ofada)
In May 2024, Broken Rice (Ofada), reached an average price of N1,738.21, marking an 11.99% increase from April’s N1,552.18 and a significant rise of 184% from N612.05 in May 2023, reflecting growing inflationary pressures. The highest price was recorded in Ogun at N2,993.73, while Kaduna had the lowest at N1,207.44.
#9 Yam Tuber
Yam tubers rose to N1,322.36 in May 2024, up 16.98% from April’s N1,130.37 and significantly higher than the May 2023 price of N457.25 by 189.2%. The highest price was in Niger at N2,572.03, with the lowest in Borno at N797.29.
#8 Rice (Local, Sold Loose)
Local rice prices climbed to an average of N1,608.89 in May 2024, showing a 14.98% increase from April’s N1,399.34 and a 189.79% rise from ₦555.18 in May 2023. Kogi had the highest price at N2,528.84, while Benue had the lowest at N1,013.59, indicating significant price pressures.
#7 Plantain (Unripe)
Unripe plantain was priced at N1,139.02 in May 2024, up 13.86% from April’s N1,000.41 and 194.52% from N386.74 in May 2023. Sokoto had the highest price at N1,990.18, whereas Plateau recorded the lowest at N639.08, affecting affordability for many households.
#6 Gari (Yellow, Sold Loose)
Yellow gari reached an average price of N1,184.35 in May 2024, up 30.18% from April’s N909.77 and 194.91% from N401.59 in May 2023. Gombe had the highest price at N1,661.75, while Nasarawa had the lowest at N850, reflecting broader inflationary trends.
#5 Tomato
Tomato prices soared to N1,479.69 in May 2024, showing a 31.71% increase from April’s N1,123.41 and 196.92% from N498.34 in May 2023. The highest price was recorded in Rivers at N2,100.12, with the lowest in Katsina at N775.02, indicating supply chain challenges.
#4 Gari (White, Sold Loose)
White gari was priced at N1,114.72 in May 2024, a 30.87% increase from April’s N851.81 and 200.12% from N371.42 in May 2023. Gombe recorded the highest price at N1,613.29, whereas Kwara had the lowest at N825.7, underscoring significant cost increases.
#3 Beans (White Black Eye, Sold Loose)
White black-eye beans climbed to N1,847.84 in May 2024, marking a 40.68% month-on-month increase from April’s N1,313.48 and 208.11% from N599.74 in May 2023. Plateau had the highest price at N2,800, while Kebbi recorded the lowest at N1,090.82.
#2 Beans (Brown, Sold Loose)
Brown beans reached an average price of N2,009.23 in May 2024, with a 44.77% increase from April’s N1,387.90 and 219.05% from N629.75 in May 2023. The highest price was in Plateau at N2,855, while Kebbi had the lowest at N1,171.21.
#1 Sweet Potato
Sweet potatoes were priced at N1,062.30 in May 2024, a 31.58% increase from April’s N807.35 and a rise of 257.26% from N297.35 in May 2023. Katsina recorded the highest price at N6,539.61, while Kaduna had the lowest at N441.3.
