Business

NBS lists 10 most expensive staple foods in Nigeria

Selected Food Price Watch for April 2024 shows that the average price of 1kg of Rice locally sold loose stood at N1,399.34. This indicates a rise of 155.93% in price on a year-on-year basis from 546.76 recorded in April 2023 and 3.47% rise in price on a month-on-month basis from N1,340.74 in March 2024.

Contents

1. Sweet Potato 2. Plantain (Unripe) 3. Broken Rice (Ofada) 4. Rice Local Sold Loose 5. Yam Tuber 6. Rice Medium Grained 7. Irish Potato 8. Plantain (Ripe)9. Chicken Feet 10. Rice Agric Sold Loose

Here are the 10 most expensive staple foods in Nigeria as of April 2024, according to recent data released by the NBS:

1. Sweet Potato

Sweet potato tops the list with an astounding 182.04% YoY increase. The price was N286.26 in April 2023, surging to N807.35 in April 2024. From March 2024 to April 2024, the price rose from N689.47 to N807.35, reflecting a 17.1% MoM increase.

2. Plantain (Unripe)

Unripe plantain prices have soared by 168.29% YoY. The price was N372.89 in April 2023, increasing to N1,000.41 in April 2024. From March 2024 to April 2024, the price rose from N933.16 to N1,000.41, a 7.21% increase from the previous month.

3. Broken Rice (Ofada)

Ofada rice, known for its unique taste, has seen a 158% YoY price increase. The price was N601.61 in April 2023, surging to N1,552.18 in April 2024. From March 2024 to April 2024, the price rose slightly from N1,525.75 to N1,552.18, a modest 1.73% increase.

4. Rice Local Sold Loose

Local rice prices have climbed by 155.93% YoY. The price was N546.76 in April 2023, increasing to N1,399.34 in April 2024. From March 2024 to April 2024, the price rose from N1,340.74 to N1,399.34, a 4.37% increase from the previous month.

5. Yam Tuber

Yam, a staple in many Nigerian households, has experienced a 154.19% YoY increase. The price was N444.69 in April 2023, rising to N1,130.37 in April 2024. From March 2024 to April 2024, the price rose from N1,068.78 to N1,130.37, representing a 5.76% MoM rise.

6. Rice Medium Grained

Medium-grained rice prices have risen by 151.95% YoY. The price was N609.57 in April 2023, increasing to N1,535.83 in April 2024. From March 2024 to April 2024, the price rose from N1,438.07 to N1,535.83, marking a 6.8% increase from March 2024.

7. Irish Potato

The price of Irish potatoes has surged by 149.18% YoY. The price was N567.29 in April 2023, rising to N1,413.57 in April 2024. From March 2024 to April 2024, the price increased from N1,254.45 to N1,413.57, reflecting a 12.68% increase from the previous month.

8. Plantain (Ripe)

Ripe plantains, essential in many Nigerian dishes, have seen a 144.68% YoY price hike. The price was N412.39 in April 2023, increasing to N1,009.05 in April 2024. From March 2024 to April 2024, the price rose from N947.35 to N1,009.05, representing a 6.51% MoM increase.

9. Chicken Feet

Chicken feet, a popular delicacy in Nigeria, has experienced a substantial YoY increase of 138.58%. The price was N1,115.29 in April 2023, which surged to N2,660.90 in April 2024. This represents a 9.04% increase from March 2024, when the price was N2,440.35.

10. Rice Agric Sold Loose

Rice agric sold loose has seen a significant rise in prices with a 135.62% increase YoY, making it one of the top ten most expensive staple foods in Nigeria. The average price of 1kg of rice was N631.50 in April 2023, which increased to N1,487.91 in April 2024. From March 2024 to April 2024, the average price rose from N1,378.84 to N1,487.91, reflecting a 7.91% MoM increase.