In to the recent report by the Nigeria Bureau of Statistics (NBS) regarding the increase in the prices of food commodities, Nigerian citizens have lamented against the increasing rise in the prices of food commodities all over the country. They lamented that the inflation is a way of destroying the vulnerable and poor in the country. The NBS report stated that the prices of edible items like beef, beans, yams, rice, onions and others inflated in September, 2022.
According to the report, the average price of 1kg of boneless beef saw an increase from N2,199.37 in September 2022 to N2,819.91 in September 2023, indicating an increase of 28.08 percent. On a month-on-month basis, there have been a 0.62 percent increase in 1kg of boneless beef in September from the previous N2,799.51 in August 2023. It was recorded that for many months now, the inflation in the price of food has caused many Nigerians sufferings and pains.
Introduction of policies that will address this inflation is needed.
A resident of Oshodi in Lagos State, Mr. Prosper Samuel, stated that the inflation in the prices of food items has caused a massive loss for the country. He said that his family can no longer afford to buy enough food. He further stated that reducing fiscal costs of short term intervention could help address the hike in prices. He added that income transfers, food and fertilizers subsidies, and others compensatory measures should be put in place for avoidance of excessive fiscal cost.
Also, Mr. Omotayo Basit, a student of the University of Lagos (UNILAG), stated that the prices of food rose speedily. He added that despite the inflation, he did not get any more funding from home, and has had to spend 50 percent of his school fees on food stuff. Therefore, he advised the federal government to ensure introduction of policies that will address this inflation. Another Nigerian, Miss Omotunde Amoke, said that she is unable to afford to buy a bag of rice like she used to.
Prices of essential food items have skyrocketed.
Amoke stated that the improvement of the management of public grain stock might be help in addressing the price hike. She added that poor management of the grain reserve of the government also led to the volatility of food prices. NBS reported in a recent household market survey that the prices of essential food items have skyrocketed as traders lament that they no longer have gains on their trades. They decried that the previous price of two bags of rice is now used to purchase just one bag of rice.
It was reported that there was a 45.11 percent increase in the average price of 1kg of yam tuber, on a year-on-year basis, from N409.23 in September last year, to N593.83 in September 2023. The NBS report, giving state profile analysis, revealed that the highest average price of 1kg of boneless beef was witnessed and recorded in Anambra State, while the lowest price was witnessed in Kogi State, with each state having N3,800.42 and N1,845.29 respectively.
South-East has a record of the highest average price of 1kg of brown beans.
Furthermore, there is a record by the NBS of the South-East and South-South having the highest average price of 1kg of local rice, and the North-Central having the lowest price at N901.26, N824.55, and N621.93 respectively. The report also said that the South-East and South-West have a record of the highest average price of 1kg of brown beans at N995.76 and N771.37 respectively, with the North-Central recording the lowest price of 1kg of brown beans at N587.99.
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Rising prices of food items affect Nigerians. – Citizens lament that inflation is a way of destroying the poor. – Express your point of view.
The rising prices of food items in Nigeria are a matter of great concern, especially for the vulnerable and poor citizens. It’s evident that inflation in food prices is causing hardships for many, making it difficult for families to afford essential items. Addressing this issue requires the introduction of policies and measures that can help stabilize food prices and ensure food security for the population. It’s crucial for the government to take action to mitigate the impact of rising food prices on the people.
Rising prices of food items affect Nigerians A major worry is the rising cost of staple foods. The government must enact measures to solve this problem and lessen the pain of the nation’s poor and vulnerable citizens, as many families are being negatively impacted by inflation.
Rising prices of food items affect Nigerians We should all be very sorry about how rising food costs are impacting us, especially the already financially disadvantaged. The impoverished can, in fact, suffer a great deal from inflation. Government action on this matter is crucial in order to lessen its effects on communities who are already at risk.
I completely understand the concerns raised by Nigerians regarding the rising prices of food items and the impact it has on the well-being of individuals, particularly those who are already economically vulnerable. Inflation and its effects on the cost of living can indeed be a significant challenge for many people, and it is essential to address these issues with empathy and urgency.
Food is a basic necessity, and when its prices increase, it directly affects the purchasing power of individuals and families. This can lead to difficulties in accessing an adequate and nutritious diet, which is crucial for maintaining good health and overall well-being. The burden of inflation is often disproportionately borne by those with lower incomes, exacerbating existing inequalities and widening the gap between the rich and the poor.
The reasons behind rising food prices and inflation are multifaceted and can vary from country to country. Factors such as supply and demand imbalances, transportation costs, global market conditions, and even climate change can all contribute to fluctuations in food prices. In the case of Nigeria, factors such as insecurity, poor infrastructure, and limited agricultural productivity can also impact the availability and affordability of food.
Addressing the issue of rising food prices requires a multi-faceted approach. It involves both short-term measures to alleviate immediate burdens on individuals and families, as well as long-term strategies to address the underlying causes of inflation and promote sustainable economic growth.
In the short term, measures such as targeted social safety nets, subsidies, and price controls can help provide temporary relief to those most affected by rising food prices. These interventions can help ensure that vulnerable populations have access to affordable and nutritious food during times of economic challenges.
However, it is equally important to focus on long-term solutions that address the root causes of inflation and promote sustainable economic development. This includes investing in agricultural infrastructure, improving productivity and efficiency in the agricultural sector, and promoting policies that support smallholder farmers and agribusinesses. By strengthening the agricultural value chain, enhancing access to credit and markets, and promoting research and innovation in agriculture, we can create a more resilient and inclusive food system.
Ultimately, addressing the issue of rising food prices requires a comprehensive and collaborative effort involving the government, private sector, civil society, and international partners. By working together, we can develop and implement sustainable solutions that ensure food