Nigeria experiences extreme food price spikes (282% beans, 137% eggs, 116% sliced bread, 153% rice, 99% boneless beef)
In September 2024, Nigeria saw drastic food price hikes, with the National Bureau of Statistics reporting annual increases of 281.97% for brown beans, 137.43% for eggs, and 115.74% for sliced bread. Local rice rose by 152.92%, and boneless beef nearly doubled in price. Despite a 150-day duty-free import measure initiated by the government, experts urge for deeper solutions to tackle inflation, including addressing security and transportation issues.
October 24, 2024
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