News
Nigerians choking as rice, garri, yam prices surge by over 100 per cent yearly
Nigerians are grappling with a significant increase in the prices of staple foods like rice, garri, yam, and beans, which have surged by more than 100 percent annually. The National Bureau of Statistics recently reported this trend in its latest Selected Food Price Watch for March 2024.
For instance, the price of locally sold loose rice reached N1,340.74 per kilogram, marking a 152.93 percent rise compared to March 2023’s N530.08 and a 9.63 percent increase from February 2024’s N1,222.97. Similarly, the average price of 1kg of Garri white rose by 112.34 percent year-on-year, from N353.16 in March 2023 to N749.89 in March 2024, with a 3.66 percent increase month-on-month.
Additionally, the average price of 1kg of Yam tuber increased by 141.25 percent year-on-year, from N443.02 in March 2023 to N1,068.78 in March 2024, and rose by 5.87 percent from N1,009.56 in February 2024 to N1,068 in March 2024.
State-wise, Niger State recorded the highest average price of 1kg of rice at N1,699.98, while Benue state had the lowest at N985.83. Ondo State reported the highest price for 1kg of Beans brown at N1,596.68, and Sokoto had the lowest at N745.5. Ogun State had the highest average price for 1kg of Garri white at N1021.13, while Benue had the lowest at N490.55. Edo State reported the highest average price for 1kg of Yam tuber at N 1,695.13, and Katsina had the lowest at N723.39.
These increases in food prices occur alongside a surge in headline and food inflation rates, which stood at 33.20 percent and 40.01 percent, respectively, in March 2024.
Dangote Refinery has announced that it will need to export 95-97 percent of its Premium Motor Spirit (petrol) due to low interest from Nigerian marketers. The refinery, which processes 650,000 barrels per day, revealed that only 3 to 5 percent of petrol marketers are purchasing its fuel.
Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited, shared these details during an X Space session hosted by Nairametrics on Wednesday. He highlighted the challenges facing both the Dangote Refinery and Nigeria’s oil and gas sector.
Edwin explained, “I’m selling 2 to 3 percent to small traders who are willing to buy, while the remaining 95 to 97 percent has to be exported,” referring to the local sales of the refinery’s products.
This situation arises as the NNPCL’s deadline for adjusting the Dangote Refinery’s fuel distribution approaches without a clear plan in sight. It is worth noting that while Aliko Dangote, President of Dangote Group, has announced the refinery’s initial petrol rollout, its distribution to marketers is contingent upon NNPCL’s decisions.
The final sixteen teams for the 2024 FIFA U-20 Women’s World Cup in Colombia have been determined following the conclusion of the group stage.
In recent matches, Ghana triumphed over New Zealand with a score of 3-1, and Japan secured a 2-0 victory against Austria.
As a result, Japan has advanced to the Round of 16, joining the other 15 teams in this knockout stage.
The Round of 16 matches are scheduled for Wednesday, Thursday, and Friday.
The full lineup for the Round of 16 is as follows:
- Spain vs Canada
- Brazil vs Cameroon
- Colombia vs South Korea
- Mexico vs USA
- North Korea vs Austria
- Germany vs Argentina
- Netherlands vs France
- Japan vs Nigeria
The Nigerian Army has refuted claims of widespread resignations among its soldiers due to issues like corruption and low morale.
In a statement, Major General Onyema Nwachukwu, Director of Army Public Relations, dismissed these reports as unfounded.
A news outlet had alleged that numerous Nigerian soldiers were resigning because of corruption and low morale. However, the statement condemned these allegations as misleading and a deliberate attempt to create discontent and undermine the Nigerian Army’s reputation and the dedication of its personnel.
Major General Nwachukwu clarified that, similar to other military organizations worldwide, service in the Nigerian Army is voluntary rather than mandatory. This means that personnel have the freedom to resign following established procedures.
He explained that the resignation process allows personnel to prepare and manage their entitlements, including pensions and gratuities, as outlined in the Harmonized Terms and Conditions of Service (Officers/Soldiers).
Contrary to the report’s implications, the statement emphasized that Nigerian Army personnel are highly motivated, and their welfare is a priority under the leadership of Chief of Army Staff, Lieutenant General Taoreed Lagbaja.
We’ll be forced to export 97% of our petrol – Dangote Refinery warns
Why is Ethiopia just entering 2017 and celebrating a New Year in September?
FIFA U-20 Women’s World Cup: Round of 16 fixtures confirmed [Full list]
What we know about Israel’s war with Hamas
LaLiga: Everyone want to play with him – Vinicius on player Real Madrid should sign
Iran calls on Islamic, Arab countries to confront Israel
-
World News11 months agoWhat we know about Israel’s war with Hamas
-
Sports11 months agoLaLiga: Everyone want to play with him – Vinicius on player Real Madrid should sign
-
World News11 months agoIran calls on Islamic, Arab countries to confront Israel
-
Tech11 months agoTop 10 AI Skills to Learn in 2023
-
ICT1 year agoApple Bows To EU, Unveils iPhone With USB-C Charger
-
Entertainment11 months agoBET Hip-Hop Awards: Black Sherif wins big as Burna Boy loses seven nominations
-
Entertainment11 months ago‘Black Panther’ star Lupita Nyong’o breaks up with boyfriend, Selema Masekela
-
ICT1 year agoApple iPhone 15 and iPhone 15 Pro pricing around the world