In an effort to make rice extra reasonably priced, sachets of rice have reappeared on the Nigerian market amid a surge in staple meals costs.
A 50kg bag of native rice now prices between N78,000 and N90,000, relying on location and model—costs properly above the typical Nigerian’s month-to-month earnings.
Though the minimal wage in Nigeria is now set at N70,000, many non-public and public establishments have but to implement it, making rice more and more unaffordable for a lot of households.
To handle this, Huge Bull, a neighborhood rice producer, has launched rice in sachet packs priced at N200 every, making it extra accessible to Nigerians.
A July report by the Nationwide Bureau of Statistics (NBS) documented the continued rise in meals costs.
In response to NBS, as of June 2024, the typical value of 1kg of brown beans offered free was N2,292.76, marking a 252.13% improve from N651.12 in June 2023 and a 14.11% rise from N2,009.23 in Could 2024.
Equally, tomato costs surged, with a 320.67% year-on-year improve from N547.28 in June 2023 to N2,302.26 in June 2024. On a month-to-month foundation, tomato costs rose by 55.59%, from N1,479.69 in Could to N2,302.26 in June.
The worth of 1kg of white Garri elevated by 181.66% year-on-year, from N403.15 in June 2023 to N1,135.51 in June 2024, with a slight 1.86% rise on a month-to-month foundation.
The price of yam additionally noticed a considerable improve, with a 295.79% rise from N510.77 in June 2023 to N2,021.55 in Could 2024, and a month-on-month improve of 52.87% from N1,322.36 in Could to N2,021.55 in June.
Regional knowledge confirmed that the very best common value of 1kg of tomatoes was recorded in Abuja at N3,992.61, whereas the bottom was in Kebbi State at N1,200. Yam tubers offered highest in Lagos at N3,376.54 per kg, with the bottom value present in Adamawa at N1,100.
Gombe state reported the very best common value for 1kg of white Garri at N1,619.27, whereas Taraba had the bottom at N900.
