In June, prices for beans, tomatoes, and Irish potatoes surged, with beans up 252%, tomatoes 320%, and Irish potatoes 288% compared to last year. Factors include transportation costs, climate change, and middlemen fees. This price hike has led Nigerians to seek alternative foods like cucumbers and carrots.
In June 2024, food prices in Nigeria soared, with beans, tomatoes, and Irish potatoes witnessing the most dramatic increases, according to data from the National Bureau of Statistics (NBS). The report highlights a staggering 252.13% year-on-year rise in bean prices, which reached N2,293 from N651.12 in June 2023. Month-on-month, beans saw a 14.11% increase from N2,009 in May.
Tomatoes experienced an even more severe surge, with prices climbing 320.67% from N547.28 last year to N2,302. This sharp rise is attributed to factors such as tuta absoluta infestations, high transportation costs, and increased middlemen tariffs. From May to June, the price of a basket of tomatoes in Lagos skyrocketed from N40,000 to N120,000.
Irish potatoes also saw a significant price hike of 288.50% year-on-year, reaching N2,423 from N623.75 in June 2023. Month-on-month, the increase was 51.92% from N1,595 in May.
The price escalation extends beyond these staples, with white garri and yam also experiencing notable price increases. White garri prices rose 181.66% year-on-year to N1,135, while yam prices surged 295.79% from N511.77 in June 2023 to N2,021 in May 2024.
Regional disparities are evident, with the highest prices recorded in Kogi State for beans, Abuja for tomatoes, and Lagos for yams. This surge
