Food prices in Nigeria have reached unprecedented levels, causing significant hardship for the population, particularly for essential items like tomatoes, pepper, rice, beans, garri, and yam. According to reports by Vanguard news published on July 3 2024, This surge in prices has raised concerns about food security and prompted experts to call for immediate government intervention.
Mrs. Hannatu Ajiji, an official at the Tomatoes/Pepper Market in Jos, Plateau State, highlighted the volatility of food prices, noting that they can change rapidly, making it difficult for sellers to inform customers in advance.
Several factors have been identified as contributors to the rising food prices, including high transportation costs, insecurity hindering farmers from working on their farms, fluctuations in foreign exchange rates, the impact of climate change on agricultural production, multiple taxation, delayed release of budget allocations, and increasing inflation.
According to data from the National Bureau of Statistics (NBS) for May 2024, there have been significant price increases. For instance, the average price of 1kg of local rice rose by 189.79% year-on-year, while the average price of 1kg of brown beans increased by 219.05% during the same period. Additionally, the average price of 1kg of tomatoes surged by 196.92% compared to the previous year.
The scarcity of yams, as it is currently not the season for their cultivation, has caused their prices to skyrocket. Traders in various markets across Nigeria have expressed their distress over the soaring prices, with reports of plastic baskets of tomatoes and pepper increasing from N4,000 to N20,000. Similar price hikes have been observed in other markets.
The exorbitant transportation costs have been identified as a major factor contributing to the rising prices. Traders have pointed out that the expenses associated with hiring vehicles to transport produce from different regions have more than doubled, significantly impacting their profits and the final prices for consumers.
The situation is dire in Sokoto State, where the price of yam tubers has risen from N1,300 to N5,000, making them unaffordable for many. Furthermore, the cost of dried pepper has surged from N25,000 to N76,000 to N80,000 within a few months.
Experts and stakeholders have emphasized the urgent need for the government to take action to address the food crisis. Dr. Olisa Agbakoba, a prominent lawyer, has called for immediate measures to prevent hunger riots, while the House of Representatives has urged the Federal Government to collaborate with state governments in implementing a mechanized agricultural revolution to tackle food insecurity.
In conclusion, the skyrocketing prices of essential food items in Nigeria have raised concerns about food security and the affordability of basic meals for its citizens. Swift action is necessary to address the various factors contributing to the price surge, ensuring access to affordable food for all Nigerians.