Top 10 States with Least and Highest Food Prices in Nigeria

In November 2023, the National Bureau of Statistics (NBS) delved into a detailed analysis of food prices across Nigeria, shedding light on the intricate fluctuations and trends in the prices of essential food items. The comprehensive study not only highlighted the year-on-year and month-on-month changes in food prices but also provided a state-wise breakdown and regional analysis, showcasing the disparities in food costs across the country.

Year-on-Year Trends: The first table outlined the average prices of essential food items, exposing significant year-on-year increases. For instance, the price of 1kg of local rice soared by an alarming 73.16%, from N500.80 to N867.18. Similarly, beef boneless experienced a 29.61% surge, rising from N2,337.46 to N3,029.50. Beans brown and onion bulb also witnessed substantial increases, rising by 44.99% and 60.62% year-on-year, respectively. Notably, tomato prices surged impressively by 66.69%.

1. State Profile Analysis:
   • Highest average price for 1kg of local rice:
     • Lagos: N1,122.42
     • Lowest: Kebbi: N688.00
   • Highest average price for 1kg of beef boneless:
     • Anambra: N3,850.47
     • Lowest: Yobe: N2,533.33
   • Highest average price for 1kg of beans brown:
     • Imo: N1,109.75
     • Lowest: Jigawa: N575.00
   • Highest average price for 1kg onion bulb:
     • Anambra: N872.23
     • Lowest: Gombe: N506.41
   • Highest average price for 1kg of tomato:
     • Delta: N1,505.16
     • Lowest: Kano: N396.04
2. Regional Analysis:
   • South-West: Highest average price for 1kg of local rice at N956.28.
   • South-East and South-West led in the average price of beef boneless.
   • South-East recorded the highest average price for 1kg of beans brown.
   • South-South had the highest average price for 1kg onion bulb and tomato.
3. Food Price Disparities:
   • States with consistently higher prices: Bayelsa, Lagos, Oyo.
   • States with comparatively lower prices: Adamawa, Kebbi, Bauchi.

States with Least and Highest Prices:

In conclusion, the food price watch conducted by the National Bureau of Statistics offers a comprehensive glimpse into the dynamic landscape of Nigeria’s food market. The detailed analysis not only highlights significant year-on-year increases in the prices of essential food items but also underscores the substantial disparities across states. From the staggering 73.16% rise in the price of 1kg of local rice to the varied regional trends, this study serves as a crucial tool for policymakers, businesses, and consumers alike. Policymakers can leverage these insights to formulate targeted interventions, businesses can adjust their strategies to navigate market fluctuations, and consumers can make informed decisions to manage their household budgets more effectively.

Moreover, the meticulous data collection process employed by the NBS, covering all 774 local governments and involving over 700 staff, ensures the accuracy and reliability of the findings. The state-wise breakdown, regional analysis, and identification of price disparities underscore the nuanced economic realities within Nigeria. As stakeholders navigate these complex dynamics, the NBS’s commitment to transparency and precision provides an invaluable resource for a deeper understanding of the economic intricacies shaping the nation’s food market.

Information Source https://nigerianstat.gov.ng/elibrary/read/1241433