The prices of rice, garri, and yam, popular staple foods in Nigeria, surged to 134.81 per cent, 109.16 per cent and 131.33 per cent, respectively, in February 2024 compared to last year.

This is according to the National Bureau of Statistics in its latest selected food price watch in February.

Accordingly, the report said 1kg of local rice increased by 134.81 per cent to N1,222.97 in February 2024 from N520.84 last year.

Similarly, the average price of garri increased to N723.45 in February 2024 from N345.88 in February 2023.

Also, the price of yam increased to N1009.56 in February 2024 from N436.41 in February 2023.

On a month-on-month basis, the prices of rice, Garri and yam rose by 19.69 per cent, 20.44 per cent and 11.93 per cent, respectively.

In addition, NBS said the price of 500g of sliced bread increased by 89.48 per cent between February 2023 and February 2024.

helinues:
Toh

MasterJayJay:

Tinubu should start importing yam and garri to crash the price.

helinues:


Nah, we don't need to import anything. CBN just approved some loans to our farmers.

You can't plant in a day and reap that same day

helinues:


Nah, we don't need to import anything. CBN just approved some loans to our farmers.

You can't plant in a day and reap that same day

MasterJayJay:


But they wanted to import cement to crash cement price.

Loans won't crash any price. Loans will not make petrol to be sold at 195 naira, neither will it make 1 dollar to be 700 naira. The combination of these two factors is causing inflation.

helinues:


The loans are not in form of cash but agricultural products

MasterJayJay:


Whatever form they come, floating of naira and high cost of petrol is what is causing inflation.

ogododo:


https://dailypost.ng/2024/03/24/prices-of-rice-garri-yam-surge-by-over-100-nbs/