“On a month-on-month basis, the price increased by 4.79 per cent from the N1,177.93 recorded in February 2024.”
NBS said the average price of 1kg of boneless beef increased by 49.41 per cent, from N2,445.96 in February 2023 to N3,654.56 in February 2024.
The discount markets for foodstuffs (Ounje Eko) are part of Governor Babajide Sanwo-Olu’s measures to cushion the effect of the removal of petrol subsidies.
On Thursday, the National Bureau of Statistics (NBS) said Nigeria’s inflation rate climbed to 29.90 per cent in January 2024.
Mr Okocha said that each truck contained 47 different items, which were meant to cushion the effects of the flood on the victims.
A development economist, Ken Ife, says insecurity has been the major cause of rising food prices.
“On a month-on-month basis, 1kg of local rice increased by 5.85 per cent from the N867.18 recorded in November 2023.’’
“On a month-on-month basis, 1kg of yam tuber increased by 3.03 per cent from the recorded N576.39 in August 2023.’’
It said the average price of 1kg of local rice increased by 62.68 per cent year-on-year, from N454.10 in August 2022 to N738.74 in August 2023.
He listed the distributed food items as rice, beans, garri, semovita, pasta, among others.
