•As transport fares up by 48.03%
The Food crisis ravaging Nigeria is getting worse as the price of one kilogram of local rice, one of the most common staple foods of the people increased from N514.83 in January 2023 to N1, 021.79 in January 2024, an increase of 98.47 per cent.
Within the same time, the cost of transportation within the city increased from N650.80 in January 2023 to N963.38 in January 2024, indicating a 48.03 per cent increase year-on-year.
The National Bureau of Statistics (NBS), in its selected food prices watch for January 2024 report, said on month-on-month basis, the commodity increased by 11.31 per cent from N917.93 in December 2023.
The report said the average price of 1kg of Beef boneless increased by 37.08 per cent on a year-on-year basis from N2, 418. 91 in January 2023 to N3, 315.78 same period 2024.
On a month-on-month basis, the average price of this item increased by 5.37 per cent from N3, 146.94 in December 2023. The average price of 1kg of Beans brown (sold loose) rose by 64.42 per cent on a year-on-year basis from N593.96 in January 2023 to N976.58 in January 2024. On a month-on-month basis, it increased by 12.16 per cent from N870.67 in December 2023.
The state profile analysis in January 2024 revealed that the highest average price of 1kg of Rice (local) sold loose was recorded in Abuja at N1, 350 while the lowest was recorded in Benue State at N800.64.
The NBS reports that the average fare paid by commuters for bus journeys within the city per drop increased to 6.72 per cent from N902.70 in December 2023 to N963.38 in January 2024.
On a year-on year basis, it rose by 48.03 per cent from N650.80 in January 2023. In another category, the average fare paid by commuters for bus journey intercity per drop was N7, 577.03 in January 2024, indicating an increase of 2.36 per cent on a month-on-month basis compared to N7, 402. 16 in December 2023.
On a year-on-year basis, the fare rose by 89.50 per cent from N3, 998.42 in January 2023. In air travel, the average fare paid by air passengers for specified routes single journey was N89, 975.68 in January 2024, showing an increase of five per cent while compared to the previous month (December 2023). On a year-on-year basis, the fare rose by 20.53 per cent from N74, 648.65 in January 2023.
