From Isaac Anumihe, Abuja
The National Bureau of Statistics (NBS) has said that the average price of 1kg rice (local) has hit N1,021.79.
This indicates a rise of 98.47 per cent in price on a year-on-year basis from N514.83 recorded in January 2023 and 11.31 per cent rise in price on a month-on-month basis from N917.93 in December 2023.
In its Selected Food Price Watch Report for January 2024, 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 of last year (2023) to N3,315.78 in January 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.
Similarly, the average price of 1kg onion bulb rose by 97.38 per cent on a year-on-year basis from N446.44 in January 2023 to N881.20 in January 2024, while there was a decline of 9.33 per cent on a month-on-month basis. In addition, the average price of 1kg of tomato rose by 80.98 per cent on a year-on-year basis from N467.04 in January 2023 to N845.26 in January 2024. On a month-on-month basis, it increased by 3.82 per cent from N814.16 in December 2023 to N845.26 in January 2024.
Meanwhile, the state profile analysis in January 2024 reveals that the highest average price of 1kg of rice was recorded in Abuja at N1,350 while the lowest was recorded in Benue State at N800.64. The highest average price of 1kg of beef boneless, was recorded in Abuja at N4,000, while the lowest was recorded in Gombe State at N2,639. In terms of the average price of 1kg of beans brown (sold loose), Akwa-Ibom State recorded the highest price at N 1,466.67, while Adamawa State recorded the least price at N677.23. Rivers State recorded the highest average price of 1kg of onion bulb at N 1,454.09, while the lowest was reported in Zamfara State at N435.71. The highest average price of 1kg of tomato was recorded in Delta State at N1,474.79, while the least average price was recorded in Kano State at N422.7.
Transport Fare Watch for January 2024 shows 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 5.00 per cent while compared to 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.
“The average transport fare paid on okada transportation was N456.22 in January 2024 which increased by 8.69 per cent when compared with the value recorded in December 2023 (N419.73). On a year-on-year basis, the fare declined by 2.15 per cent when compared with January 2023 (N466.25).
For water transport (waterway passenger transportation), the average fare paid in January 2024 increased to N1,402.84 from N1, 386.76 which indicates an increase of 1.16 per cent on monthly basis. On a year-on-year basis, it increased by 35.82 per cent from N1,032.84 in January 2023.
“On state profile analysis, for intercity bus travel (state route charged per person fare), the highest fare was recorded in Anambra State with N10,500.00, followed by Akwa-Ibom State with N10,000.00. The least fare was recorded in Kwara State with N5,900.00, followed by Taraba State with N6,200.00. Taraba State recorded the highest bus journey within the city (per drop constant route) in January 2024 with N1,400.00 followed by Jigawa State with N1,250.00.
“On the other hand, Abia State recorded the least with N550.00, followed by Adamawa State with N570.00. Similarly, Rivers State recorded the highest air transport charges (for specified routes single journeys) with N100,500.00, followed by Lagos State with N100,000.00. Conversely, Abia State recorded the least fare with N73,000.00, followed by Plateau State with N80,000.00.
“Also, Lagos State had the highest motorcycle transport fare in January 2024 with N840.00, followed by Ondo with N750.00. The least fare was recorded in Anambra State with N230.00, while Bayelsa State followed with N250.00. Similarly, water transport fare was highest in Bayelsa State with N4,700.00, followed by Delta State with N4,200.00, while the least fare was recorded in Borno State with N450.00, followed by Gombe State with N550.00” NBS said.