Posts Tagged: #Inflation
Prices of beans, tomatoes, potatoes surge most in June
The National Bureau of Statistics (NBS) reported that in June, beans, tomatoes, and Irish potatoes saw the highest price increases, driving a food price surge. Beans, a key protein source, rose by 252.13 percent year-on-year
Food scarcity presents huge opportunity for youths to go into farming – NIPR Chief
Dr. Ike Neliaku, President of the Nigerian Institute of Public Relations, highlighted the opportunity for young Nigerians to engage in farming amidst rising inflation and food shortages. During the inauguration of Gentlereal Farms and Kitchen
Nigerian farmers abandon farms after attacks, sending food prices higher
Hassan Ya’u, a farmer in northern Nigeria, escaped a deadly attack by armed men on his farm, but many others were killed or abducted. Such raids, driven by unpaid levies to armed gangs, force farmers
Nigerians borrow N3.9tn as economic crisis bites harder
Amid rising living costs, Nigerians obtained N3.82tn in credit from banks by January 2024, driven by heightened inflation. Personal loans, comprising 79.2% of consumer credit, rose by 14.3%. Total sectoral credit increased to N57.76bn, benefiting
Interrogating Nigeria’s food inflation crisis
The article “Forces Fuelling High Price Regime, Despite Naira’s Rebound” in The Nation explains why food prices in Nigeria remain high despite the Naira’s appreciation against the US Dollar. The report highlights that food inflation,
Debunking Economic Myths: Opening borders for food not always a bad move
Technological advancements are essential to meeting global food demands, as Nigeria faces severe food insecurity. With food inflation at 40.53% and climate challenges, opening borders for food imports is debated. Critics argue it harms local
Rice, garri, tomatoes prices rise 141% in one year – NBS
The average prices of rice, garri, and tomatoes rose by 141% over one year, according to a food price report. The price of rice surged 156% to N1,399 in 2024 from N547 in 2023. Garri
Again, Prices Of Farm Produce Surge In Katsina
The food crisis in Katsina State has worsened due to a resurgence in the prices of farm produce, exacerbated by economic challenges including inflation and foreign exchange shortages. Markets across the state, including Dandume and
How Butchers, Others Lost Their Jobs In Livestock Businesses In Yobe
The ongoing economic crisis has severely impacted Yobe State’s cattle industry, particularly at the Potiskum Cattle Market, once a major hub in West Africa. Every Thursday, around 70 trucks loaded with cows used to depart
How rising inflation pushes up prices of food, agro commodities
Experts warn Nigerians to prepare for tougher times ahead as inflation continues to rise, making goods and services increasingly unaffordable. The latest inflation report from the National Bureau of Statistics shows a significant increase in
