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.

From May 2023 to December 2024, Nigeria faced an extraordinary surge in food prices, reflecting the broader economic issues confronting the country. Onions, a key ingredient in Nigerian cooking, topped the food inflation list with an astonishing 353% price increase. Other vital staple foods followed closely behind, with yam tubers rising by 317% and Ofada rice increasing by 310%. Even plantains, both ripe and unripe, experienced price jumps of 260% and 301%, respectively. Sources of protein were also affected significantly.

All food items in the top 20 witnessed price increases of over 200%, leading to a widespread crisis in food affordability.

Source:

National Bureau of Statistics

Period:

May 2023 - December 2024
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