…as transport fares also jump by 48.03ye
The Food crisis ravaging Nigeria is getting worse as the price of one kilogram of local rice, one of the most common staple foods of the people increased from N514.83 in January 2023 to N1,021.79 in January 2024, an increase of 98.47 percent.
Within the same time, the cost of transportation within the city increased from N650.80 in January 2023 to N963.38 in January 2024, indicating a 48.03 percent increase year-on-year.
The National Bureau of Statistics (NBS), in its selected food prices watch for January 2024 report, said one month-on-month basis, the commodity increased by 11.31 percent qfrom N917.93 in December 2023.
The report said the average price of 1kg of Beef boneless increased by 37.08 percent on a year-on-year basis from N2,418.91 in January of last year (2023) to N3,315.78 in January 2024.
On a month-on-month basis, the average price of this item increased by 5.37 percent from N3,146.94 in December 2023. The average price of 1kg of Beans brown (sold loose) rose by 64.42 percent on a year-on-year basis from N593.96 in January 2023 to N976.58 in January 2024. On a month-on-month basis, it increased by 12.16 percent from N870.67 in December 2023.
The state profile analysis in January 2024 reveals that the highest average price of 1kg of Rice local sold loose was recorded in Abuja state at N1,350 while the lowest was recorded in Benue state at N800.64.
The NBS reports that the average fare paid by commuters for bus journeys within the city per drop increased to 6.72 percent from N902.70 in December 2023 to N963.38 in January 2024.
On a year-on year basis, it rose by 48.03 percent from N650.80 in January 2023. In another category, the average fare paid by commuters for bus journey intercity per drop was N7,577.03 in January 2024, indicating an increase of 2.36 percent on a month-on-month basis compared to N7,402.16 in December 2023.
On a year -on-year basis, the fare rose by 89.50 percent from N3,998.42 in January 2023. In air travel, the average fare paid by air passengers for specified routes single journey was N89,975.68 in January 2024, showing an increase of 5.00 percent while compared to the previous month (December 2023). On a year-on -year basis, the fare rose by 20.53 percent from N74,648.65 in January 2023.