We Can’t Cancel a Protest We Didn’t Organize — NLC

A few days ago, the NBS reported that headline inflation for June increased to 34.19 percent, up from 33.95 percent in May 2024. Food inflation also surpassed 40 percent.

According to the NBS’s “Selected Food Prices Watch” report for June 2024, released in Abuja on Tuesday, the average price of 1kg of brown beans rose by 252.13 percent from ₦651.12 in June 2023 to ₦2,292.76 in June 2024. On a month-on-month basis, 1kg of brown beans increased by 14.11 percent in June from ₦2,009.23 in May 2024.

The average price of 1kg of tomatoes increased by 320.67 percent year-on-year, from ₦547.28 in June 2023 to ₦2,302.26 in June 2024. Month-on-month, 1kg of tomatoes rose by 55.97 percent from ₦1,479.69 in May 2024.

The average price of Irish potatoes increased by 288.50 percent year-on-year, from ₦623.75 in June 2023 to ₦2,423.27 in June 2024. The average price of 1kg of white garri increased by 181.66 percent year-on-year, from ₦403.15 in June 2023 to ₦1,135.51 in June 2024, and by 1.86 percent month-on-month from ₦1,114.72 in May 2024.

Additionally, the average price of 1kg of yam tuber rose by 295.79 percent year-on-year, from ₦510.77 in June 2023 to ₦2,021.55 in June 2024.

State profile analysis showed that in June 2024, the highest average price of 1kg of brown beans was in Kogi at ₦3,006.43, while the lowest was in Adamawa at ₦1,336.11. Abuja recorded the highest average price of 1kg of tomatoes at ₦3,992.61, while the lowest was in Kebbi at ₦1,200. The highest average price of 1kg of yam tuber was in Lagos at ₦3,376.54, while the lowest was in Adamawa at ₦1,100. Gombe had the highest average price of 1kg of white garri at ₦1,619.27, while the lowest was in Taraba at ₦900.

Regional analysis showed the highest average price of 1kg of brown beans was in the North-Central at ₦2,923.45, followed by the South-South at ₦2,630.03. The South-West and South-East recorded the highest average prices of 1kg of tomatoes at ₦3,261.84 and ₦2,852.59, respectively, while the lowest was in the North-West at ₦1,411.16. The South-West recorded the highest average price of 1kg of yam tuber at ₦2,745.80, followed by the North-Central at ₦2,440.35, with the North-West recording the lowest price at ₦1,238.49. The South-West and North-East recorded the highest average prices of 1kg of white garri at ₦1,199.62 and ₦1,155.63, respectively.

This report follows the Federal Government’s approval of a 150-day duty-free import window for food commodities to address rising food prices and ensure food security. Suspended duty tariffs and taxes will apply to certain food items imported across land and sea borders, including maize, cowpeas, wheat, and husked brown rice. The government has also approved the distribution of some grains nationwide.

In other news, President Bola Tinubu appealed to Nigerians on Tuesday to cancel the planned ‘EndBadGovernance’ protest. This came after a closed-door meeting on Wednesday with ministers, including the Secretary to the Government of the Federation (SGF) George Akume and the National Security Adviser (NSA) Nuhu Ribadu, among others. Information Minister Mohammed Idris, who briefed the media after the meeting, urged Nigerians to give the government more time to address the country’s economic challenges and assured that the government is engaging all concerned parties to resolve the issues for the nation’s benefit.