In May 2024, Nigeria experienced a headline inflation rate of 33.95%, up from 22.41% in May 2023, reflecting significant economic pressures.
Food inflation reached a striking 40.66%, a notable increase from 24.82% the previous year, according to data from the National Bureau of Statistics (NBS).
This surge in food prices is primarily attributed to high costs in categories like cereals, tubers, oils, and meats. However, month-on-month food inflation slightly eased to 2.28%, down from 2.50% in April 2024.
Amid Nigeria’s high inflation, below are the 10 most expensive staple foods, placing substantial pressure on household budgets across the country.
#10 Broken Rice (Ofada)
In May 2024, Broken Rice (Ofada), reached an average price of N1,738.21, marking an 11.99% increase from April’s N1,552.18 and a significant rise of 184% from N612.05 in May 2023, reflecting growing inflationary pressures. The highest price was recorded in Ogun at N2,993.73, while Kaduna had the lowest at N1,207.44.
#9 Yam Tuber
Yam tubers rose to N1,322.36 in May 2024, up 16.98% from April’s N1,130.37 and significantly higher than the May 2023 price of N457.25 by 189.2%. The highest price was in Niger at N2,572.03, with the lowest in Borno at N797.29.
#8 Rice (Local, Sold Loose)
Local rice prices climbed to an average of N1,608.89 in May 2024, showing a 14.98% increase from April’s N1,399.34 and a 189.79% rise from ₦555.18 in May 2023. Kogi had the highest price at N2,528.84, while Benue had the lowest at N1,013.59, indicating significant price pressures.
#7 Plantain (Unripe)
Unripe plantain was priced at N1,139.02 in May 2024, up 13.86% from April’s N1,000.41 and 194.52% from N386.74 in May 2023. Sokoto had the highest price at N1,990.18, whereas Plateau recorded the lowest at N639.08, affecting affordability for many households.
#6 Gari (Yellow, Sold Loose)
Yellow gari reached an average price of N1,184.35 in May 2024, up 30.18% from April’s N909.77 and 194.91% from N401.59 in May 2023. Gombe had the highest price at N1,661.75, while Nasarawa had the lowest at N850, reflecting broader inflationary trends.
#5 Tomato
Tomato prices soared to N1,479.69 in May 2024, showing a 31.71% increase from April’s N1,123.41 and 196.92% from N498.34 in May 2023. The highest price was recorded in Rivers at N2,100.12, with the lowest in Katsina at N775.02, indicating supply chain challenges.
#4 Gari (White, Sold Loose)
White gari was priced at N1,114.72 in May 2024, a 30.87% increase from April’s N851.81 and 200.12% from N371.42 in May 2023. Gombe recorded the highest price at N1,613.29, whereas Kwara had the lowest at N825.7, underscoring significant cost increases.
#3 Beans (White Black Eye, Sold Loose)
White black-eye beans climbed to N1,847.84 in May 2024, marking a 40.68% month-on-month increase from April’s N1,313.48 and 208.11% from N599.74 in May 2023. Plateau had the highest price at N2,800, while Kebbi recorded the lowest at N1,090.82.
#2 Beans (Brown, Sold Loose)
Brown beans reached an average price of N2,009.23 in May 2024, with a 44.77% increase from April’s N1,387.90 and 219.05% from N629.75 in May 2023. The highest price was in Plateau at N2,855, while Kebbi had the lowest at N1,171.21.
#1 Sweet Potato
Sweet potatoes were priced at N1,062.30 in May 2024, a 31.58% increase from April’s N807.35 and a rise of 257.26% from N297.35 in May 2023. Katsina recorded the highest price at N6,539.61, while Kaduna had the lowest at N441.3.
