Nigeria: Prices of beans, rice, beef, palm oil increased in November: NBS

The National Bureau of Statistics (NBS) says that prices of selected food items increased in November.

The report said the average price of one kilogramme of boneless beef on a year-on-year basis increased by 29 per cent from N1,812.03 recorded in November 2021 to N2,337.46 in November 2022, revealing that on a month-on-month basis, one kilogramme of boneless beef increased by 3.14 per cent from N2,266.24 recorded in October 2022.

The report showed that the average price of one kilogramme of rice (local) increased by 18.95 per cent from N421.02 in November 2021 to N500.80 in November 2022, and “on a month-on-month basis, the average price of this item increased by 2.73 per cent from N487.47 recorded” last October.

It also mentioned that the average price of one kilogramme of tomato on a year-on-year basis rose by 30.18 per cent from N350.15 in November 2021 to N455.13 in November 2022, revealing that on a month-on-month basis, one kilogramme of tomato increased by 0.15 per cent from N454.46 recorded in October 2022.

Also, the report showed that the average price of one kilogramme of brown beans (sold loose) rose by 18.03 per cent on a year-on-year basis from N490.19 recorded in November 2021 to N578.55 in November 2022.

According to the NBS survey, on a month-on-month basis, the price rose by 2.45 per cent from N564.69 recorded in October 2022, noting that the average price of palm oil (one bottle) increased by 29.87 per cent from N775.11 in November 2021 to N1,006.64 in November 2022.

On a month-on-month basis, the item grew by 3.91 per cent from the N968.76 recorded in October 2022, said the NBS.

Also, it revealed that the average price of vegetable oil (one bottle) stood at N1,142.99 in November 2022, showing an increase of 30.41 per cent from N876.47 in November 2021, while on a month-on-month basis, it rose by 3.34 per cent from N1,106.08 recorded in October 2022.

The report explained that the average price of a yam tuber was N421.08 in November 2022, showing an increase of 29.25 per cent from N325.78 in November 2021, adding that on a month-on-month basis, one tuber of yam increased by 2.74 per cent from N409.86 recorded in October 2022.

The NBS further explained that the average price of white garri (sold loose) stood at N325.82 in November 2022, showing an increase of 7.79 per cent from N302.28 in November 2021.

On a month-on-month basis, the item increased by 2.49 per cent from N317.90 recorded in October 2022, with the report revealing that at the state level, the highest average price of rice (local, sold loose) was recorded in Rivers at N632.05, while the lowest price was recorded in Jigawa at N378.81.

It said Ebonyi recorded the highest average price of beans (brown, sold loose) at N868.33, while the lowest was recorded in Kebbi at N365.71. Ekiti recorded the highest price of Vegetable oil (1 bottle) at N1,584.31, while Kwara recorded the lowest price at N693.08.

The NBS’ zonal analysis showed that the average price of one kilogramme of boneless beef was higher in the South-East and South-South at N2,851.51 and N2,570.87, respectively, while the lowest price of the item was recorded in the North-East at N1,971.83.

South-South recorded the highest average price of one kilogramme of rice (local, sold loose) at N555.80, followed by the South-West at N526.41, while the lowest price was recorded in the North-West at N457.16, the NBS report added.

Also, it said the South-West recorded the highest average price of palm oil (one bottle) at N1,174.30, followed by the North-West at N1,129.63, while the North-East recorded the lowest price at N765.04.

Tags: prices, rice, Vegetable Oil, National Bureau of Statistics, palm oil, beans, Food, boneless beef, tomato, brown beans, yam tuber, white garri, sold loose