Food Prices in Nigeria Surge Over 180%: Garri, Beans, Yam, and Tomatoes Lead the Increase

Economic hardship in Nigeria has intensified as prices for staple foods like garri, beans, yam, and tomatoes surged by at least 180% in June 2024 compared to the same period last year, amid upcoming nationwide protests.

The National Bureau of Statistics revealed these figures in its June Selected Food report released on Wednesday.

The report analyzed the prices of essential foods including garlic, beans, tomatoes, yam, and potatoes. It indicated that food prices rose both year-on-year and month-on-month.

Specifically, the price of one kilogram of white garri increased by 181.66% year-on-year, from N403.15 in June 2023 to N1,135.51 in June 2024, with a 1.86% month-on-month rise.

The cost of one kilogram of loose brown beans reached N2,292.76, marking a 252.13% increase year-on-year from N651.12 in June 2023.

Similarly, one kilogram of yam tuber saw a 295.79% rise year-on-year, from N510.77 in June 2023 to N2,021.55 in June 2024, with a 52.87% month-on-month increase from N1,322.36 in May 2024.

The price of tomatoes also rose significantly, with one kilogram increasing by 320.67% year-on-year to N2,302.26 in June 2024 from N547.28 in June 2023.

The report further highlighted a notable 288.5% year-on-year increase in the price of Irish potatoes, rising from N623.75 in June 2023 to N2,423.27 in June 2024.

State-by-state analysis revealed Lagos had the highest price for one kilogram of yam tuber at N3,376.54, while Adamawa had the lowest at N1,100.00. Gombe had the highest average price for one kilogram of white garri at N1,619.27, while Taraba recorded the lowest at N900.

The report also noted that June’s core inflation was 34.19%, with food inflation at 40.87%. This suggests a continued decline in the purchasing power of Nigerians, exacerbating the misery index.

This economic strain comes as Nigerians prepare for a national protest scheduled for August 1, 2024. President Bola Ahmed Tinubu has urged citizens to postpone the protests, stating that the government’s policies, including a new minimum wage of N70,000, need time to show positive effects. Meanwhile, Nigerian governors and ministers are seeking dialogue to prevent the planned protests.