The prices of noodles, bread, and cooking oil (vegetable and palm oil) have risen between 20 and 30 percent in the last 12 months, a food price survey of markets in six States has shown.
According to the survey, published by an on-line journal, yesterday, which covered Lagos, Akwa Ibom, Abuja, Cross River, Nasarawa, and Ekiti States showed that the price of a litre of palm oil moved from N600 to N1, 000, while vegetable oil increased from N2000 a litre to N4,000
Also, the price of spaghetti rose by at least 24 percent within the period.
Food inflation in Nigeria fell for the fourth straight month to 21.03% in July, after reaching its highest rate of 22% in years in the month of March, according to the National Bureau of Statistics, (NBS).
A carton of spaghetti which sold a year ago for N4, 200 last year, now goes for N5, 200. Similarly, a carton of noodles rose from N1700 to N2, 400.
Also, a N350 loaf of bread now sells for N500 and N550. The price of a litre of palm oil also moved, from N600 to N1, 000; while vegetable oil increased from N2,000 a litre to N4,000.
A trader at Agege market in Lagos, Angela Emmanuel, said that she only knew that prices of oil had risen, without knowing exactly what triggered the increase.
“There is an increase in the prices of food items, but personally, I don’t know what causes the increase. Some people attributed the rise to the foreign exchange rate while others think it is insecurity that has affected the transportation of the product.
“People are really complaining of the high prices, and they are beginning to patronise the cheaper alternative of inferior oil and it is not good for their health,” Mrs. Emmanuel said.
In Akwa-Ibom State, a food trader, Abasifreke Akpan, said prices have risen at least 100 percent.
A bread seller, Umar Isma’ila, who owns a shop in Kubwa, Abuja, said he used to sell this small loaf of bread for N200, but that now it is gone to N250.
“The other big size was N350 before, but now it is N500. I cannot even order for many quantities again because it has affected my revenue and most times, customers are not buying again like before”, Umar lamented.
