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Food Prices Increased In September 2022
The National Bureau of Statistics has said that prices of selected food items in September 2022 increased. This was contained in the NBS Selected Food Prices Watch Report for September 2022. The report said that the average price of 1kg of Tomato on a year-on-year basis, increased by 30.06 per cent, from N342.25 recorded in…
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Inflation Rate Hits 20.5% In August 2022
Nigeria’s inflation rate has risen by 0.92 basis points to 20.52 percent in August 2022, from 19.6 percent in July. This is the highest record since October 2005 and it represents the seventh consecutive monthly rise in Headline inflation since February. Also, Food inflation rose to 23.12 percent in August 2022, representing a 1.1 percentage-point…
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Prices Of Food Increased In July 2022
Data from the National Bureau of Statistics has revealed that the prices of selected food items increased in July 2022. This was made in its Selected Food Prices Watch Report for July 2022. NBS stated that the average price of 1kg of white beans rose by 23.22 per cent from N444.21 in July 2021 to…
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45 Countries Face High Risk Of Food Crisis
A study by Boston Consulting Group, a global management consulting firm, has shown that about 45 countries around the world are severely exposed to the Ukraine war-induced food crisis. BCG, in a report titled, ‘The war in Ukraine and the rush to feed the world’, said it explored in detail the multiple direct and indirect…
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Inflation: Nigeria Has Surpassed 16.0% Rate 25 Times In 88 Months
The National Bureau of Statistics has published that the consumer price index for April 2022 increased to 16.82 percent on a year-on-year basis. The recent figures are 1.3 percent points lower compared to the rate recorded in April 2021 (18.12) percent but 0.9 percent higher than March 2022. According to NBS the headline inflation rate…
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Q1: Insecurity, Sit-at-home, Petrol Scarcity Caused Food Price Hike
According to a latest report by SBM Intelligence, continuous insecurity challenges, sit-at-home order and recent hike in fuel are major indicators that increased the prices of foodstuffs in the first quarter of 2022. The report, titled ”Jollof Index Q4 2021 & Q1 2022: Geopolitics Comes for Dinner”, showed an explanation of food inflation in Nigeria…
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Lagos Has Highest Number Of Food-insecure People
A new data by the Federal Government in partnership with the Food and Agriculture Organisation of the United Nations, World Food Programme, Action Against Hunger, among others, has revealed that Lagos State has the highest number of food-insecure people in the country. The Food Security analysis report, otherwise called the Cadre Harmonise, which analysed 21…
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Inflation Rate Rises To 15.63% After Eight Month Decline
Nigeria’s inflation rate has risen to 15.36 percent in December 2021, from 15.50 percent recorded in November 2021 after eight months of consistent decline. The Statistician-General of the Federation, Simon Harry, disclosed this during a press briefing at the National Bureau of Statistics, Abuja. Recall that data from the NBS had shown that headline inflation…
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Nigeria Spent $1.68bn On Food Imports In Nine Months
The Central Bank of Nigeria disclosed that from January to September 2021, the Federal Government has spent $1.68bn on food importation. In the report on sectoral utilization of foreign exchange for the third quarter of 2021, the apex bank said Nigeria could produce enough to feed its citizens. During the Bankers’ Committee retreat in Lagos…
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Inflation Increases By 15.40% In November 2021
The consumer price index, which measures inflation, increased by 15.40 percent in November 2021. This is 0.51 percent points higher than the rate recorded in November 2020 (14.89) percent. On a month-on-month basis, the index increased by 1.08 percent in November 2021, this is 0.10 percent higher than the rate recorded in October 2021 (0.98)…