Food inflation climbed to 40.53% in April 2024, according to the Consumer Price Index report of the National Bureau of Statistics (NBS). This represented a 15.92% increase from the 24.61% food inflation rate recorded in April 2023.
However, Nigeria’s month-on-month food inflation declined in April for the second consecutive time following five months of consistent increase dating back to October 2023.
Monthly food inflation in April stood at 2.50%, a decline from the 3.62% recorded in March 2024 when year-on-year food inflation reached 40.01%.
Nigeria, with its diverse cuisine and rich culinary heritage, has seen significant fluctuations in the prices of staple foods over the past year.
Based on the recent data from the NBS, here are the 10 most expensive staple foods in Nigeria as of April 2024:
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.
The highest prices were recorded in Niger state at N1,984.18, while Benue state had the lowest at N1,078.73. This rise is indicative of broader trends affecting rice production and distribution in Nigeria.
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.
The highest price was found in Abuja at N5,507.95, significantly higher than the lowest price of N1,005.10 in Bauchi state. This price surge reflects the rising demand and possible supply constraints affecting chicken feet.
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.
The highest prices were observed in Cross River at N1,380.87, whereas Yobe state had the lowest prices at N560.81. The price increase underscores the high demand for plantains and the challenges in maintaining stable supply chains.
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.
Ondo state recorded the highest price at N2,000, while Borno had the lowest at N653.73. This significant rise is influenced by seasonal factors, transportation costs, and possibly localized production challenges.
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.
The highest prices were recorded in Ogun state at N1,899.91, while Kano state had the lowest at N1,164.35. The steady increase in prices reflects broader trends in the rice market, including production costs and demand fluctuations.
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.
Cross River state had the highest price at 1,797.15, while Bauchi state had the lowest at N638.64. The price increase highlights the essential nature of yams in Nigerian cuisine and the pressures on supply chains.
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.
Niger state recorded the highest prices at N1,785.47, while Benue had the lowest at N993.72. The increase in local rice prices underscores the challenges in local production and distribution, impacting affordability.
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.
Ogun state saw the highest prices at N2,941.81, while Zamfara had the lowest at N987.28. This substantial price rise reflects the growing popularity and limited availability of Ofada rice.
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.
The highest prices were recorded in Ondo state at N1,729.57, while Yobe had the lowest at N470. The significant increase highlights the versatile use of plantains in Nigerian cuisine and the supply challenges faced.
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.
Delta state recorded the highest price at N1,381.37, while Kaduna had the lowest at N387.68. The drastic price rise of sweet potatoes indicates a significant demand-supply imbalance and highlights the need for targeted interventions to stabilize prices.