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The top 15 food items faced price hikes worth more than ₦2,000 in 19 months since May 2023
Key takeaways: 
  • The boneless beef price recorded the largest increase of more than ₦3,620 on average, followed closely by dried catfish (+₦3,619.35) and frozen chicken (+₦3,583.82).
  • Prices of major animal proteins have more than doubled, with price increases ranging from ₦1,900 to ₦3,630 on average.
  • The top 20 food items saw price hikes of at least ₦1,900.
  • The cost of a medium-sized crate of eggs more than tripled between May 2023 and December 2024.

20 food items with the highest price increases in Nigeria between May 2023 and Dec. 2024
Key Takeaways:
  • The top 20 food items witnessed extreme inflation, surpassing 200%.
  • Onions and yams lead the list with remarkable price hikes of 353% and 317%, respectively.
  • Various types of rice exhibited significant price increases (310% for Ofada rice, 250% for local rice, etc).
  • Basic protein sources such as eggs (207%) and chicken (202%) saw their prices more than double, making them increasingly less affordable.


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