In the wake of the removal of fuel subsidy by President Bola Tinubus administration, Nigerians are grappling with an escalating challenge as food prices continue to soar.
The combination of fuel hardship caused the removal of subsidies has had a significant impact on transportation costs, resulting in a sharp increase in the prices of essential food items.Advertisement
However, according to the latest report from the National Bureau of Statistics (NBS), the distressing trend in food prices across the nation resumed in the first quarter of the year, just after the general elections in March.
The NBS Selected Food Prices Watch Report for April, released on Saturday, highlights that key food items such as tomatoes, beans, and yams have experienced substantial price hikes, causing widespread concern among consumers.Advertisement
The average price of 1kg of tomatoes witnessed a yearonyear increase of 13.73 per cent, soaring from N426.54 in April 2022 to N485.10 in April 2023, the NBS revealed.
These price hikes can be attributed to higher transportation costs and disruptions in the supply chain.Advertisement
The average price of 1kg of onion bulb also witnessed a yearonyear increase of 15.87 per cent, reaching N441.38 in April 2023.
Imo State for example, recorded the highest average price of 1kg of boneless beef at N3,277.11, while Kogi State had the lowest at N1,789.67.
Similarly, the average price of 1kg of tomato was highest in the SouthSouth and SouthEast at N849.02 and N647.96 respectively, while the lowest price was recorded in the NorthEast at N256.13.Advertisement
TheNewsGuru.com (TNG) reports that the rising cost of basic staple food items particularly boneless beef, has been worsened by the removal of fuel subsidy and further compounds the challenges faced by Nigerians in meeting their dietary needs.
Analysts say to address the pressing issue of fuel hardship and soaring food prices in the country, there is need for the government to implement targeted mitigation measures that would stabilize food prices and alleviate the burden on Nigerian households. Advertisement
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