The cost of essential food commodities like rice and beans has seen a significant rise across Nigeria, a trend attributed to recent policy changes by President Bola Tinubu's administration.
The escalating prices have spurredl widespread discontent, with citizens in various parts of the country staging protests to demand an increase in the minimum wage to cope with the soaring cost of living.
Amidst the economic strain, there have been alarming incidents of looting, with some individuals hijacking trucks loaded with foodstuffs and others raiding warehouses to pilfer supplies.
Torizone reported on the dramatic increase in food prices, highlighting how staple foods have become less affordable for the average Nigerian.
The report detailed the current market rates of various food commodities, illustrating the financial pressure faced by households.
This surge in food prices, coupled with the civil unrest and instances of looting, paints a grim picture of the economic challenges facing Nigeria.
The public outcry for wage adjustments reflects the growing urgency for policy interventions to mitigate the effects of inflation and ensure food security for the nation's citizens.
Price Of Bag Of Rice
The cost of rice varies significantly between local and imported brands. The average price for a 50kg bag of foreign rice stands at N60,000, while a 25kg half-bag is priced at N40,000.
In contrast, Nigerian rice is tagged at N70,000 for a 50kg bag and N35,000 for a 25kg bag, reflecting the premium on locally sourced grains.
Additionally, a single derica of rice is currently valued at N1,800, with a paint bucket fetching around N7,500.
Price Of Bag Of Beans
Market surveys across various regions have reported that the price of a bag of beans has experienced a significant hike, placing additional financial strain on consumers.
Torizone gathered that the price of bag of beans stands between N30,000 to N38,000.
Price Of Bag Of Garri
A 50kg bag of yellow garri averages N45,000, whereas white garri is slightly cheaper, averaging N43,000 for the same quantity.
A standard 50kg bag contains approximately 43 paint buckets or 960 cups, equivalent to 120 mudus. This standardization helps in gauging the quantity and price in different market segments.
Price Of Palm Oil Per Gallon, Litre And Kg
The pricing per litre for palm oil in Nigeria as of March 18, 2024, is detailed as follows; 4 litres (approximately 1 gallon) - N4,200, 5 litres - N6,000, 10 litres - N12,000, 25 litres - N24,000, 50 litres - N48,000.
Price Of Snail Per Kg
During the dry season, jumbo snails fetch around 2,200 naira each, whereas their price drops to 1,500 naira in the rainy season.
Similarly, point of lay Achatina Marginata snails are priced at 550 naira during the rainy season and 850 naira in the dry period.
Breeder snails see a price variation from 1,500 naira in the wet season to 2,300 naira when it's dry.
Prices also differ based on processing, with processed snails commanding up to 14,000 naira per kg in the dry season compared to 9,000 naira in the rainy season.
Unprocessed snails are cheaper, averaging 3,500 naira per kg in the rainy season and 6,000 naira in the dry season.
Price Of Bag Of Onions
The price for a 100kg bag of onions in markets such as Kano ranges between 45,000 and 48,000 Naira, reflecting the current market conditions and cost influences.
In contrast, metropolitan areas with greater logistic and operational expenses report higher prices, pushing the upper limit of the average national price range of 40,000 to 50,000 Naira for a bag of onions.
Price Of A Crate Of Egg
The cost of a crate containing 30 chicken eggs ranges between 3,500 to 3,700 Nigerian Naira (NGN), while quail eggs, considered a premium variety, are priced from 2,500 to 3,000 NGN per crate.
Price Of Bag Of Flour
The price of flour, a staple ingredient in numerous Nigerian households and a cornerstone for several businesses in the bakery and confectionery sectors, has witnessed fluctuations, currently ranging between N60,000 to N65,000 for a 50kg bag.
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