Price of Rice Increases 60%, Yam 45% as Transport Fare Spikes — NBS Report
The National Bureau of Statistics (NBS) yesterday, said the price of one kilogram (kg) of local rice sold loose increased year-on-year (YoY) by 60.5 percent to N757.06 in September 2023 from N471.42 in September 2022.
The Bureau disclosed this in its ‘Selected Food Price Watch’ report for September 2023, noting that the price of yam and beans also increased YoY by 45 percent and 28 percent respectively during the review period.
The Bureau stated: “The average price of 1kg of rice local sold loose increased by 60.59 percent on a YoY basis from N471.42 in September 2022 to N757.06 in September 2023.
“The average price of 1kg of beans brown (sold loose) rose by 28.76 percent on a YoY basis from N556.81 in September 2022 to N716.97 in September 2023.
“The average price of 1kg of Yam tuber rose by 45.11 percent on a YoY basis from N409.23 in September 2022 to N593.83 in September 2023.
“The average price of 1kg of beef boneless stood at N2,816.91. This indicates 28.08 percent rise in price on a YoY basis from N2,199.37 rec-orded in September 2022.”
Meanwhile in its ‘Transport Fare Watch’ report for September 2023 the NBS said that the average fare paid by commuters for bus, air, okada and waterways transport journeys increased during the period.
“The average fare paid by commuters for bus journeys within the city per drop increased by 0.11 percent from N1,336.38 in August to N1,337.80 in September 2023.
“On a year-on-year basis, it rose by 117.29 percent from N615.69 in September 2022.
“In air travel, the average fare paid by air passengers for specified routes single journey was N79,013.48 in September 2023, showing no significant differences in the fare paid in the previous month.
“On a year-on-year basis, the fare rose by 8.70 percent from N72,690.54 in September 2022.
“The average transport fare paid on Okada transportation was N646.29 in September 2023 which was 0.03 percent increase when compared with the value recorded in August 2023 (N646.12).
“On a year-on-year basis, the fare rose by 48.66 percent when compared with September 2022 (N434.73).
“For water transport (waterway passenger transportation), the average fare paid in September 2023 in-creased to N1,406.84 from N1,406.74 which indicates an increase of 0.01 percent on monthly basis.
“On a year-on-year basis, it increased by 43.53 percent from N980.20 in September 2022.”
“On state profile analysis, for intercity bus travel (state route charged per person fare), the highest fare was recorded in Abuja with N8,525.42, followed by Anambra with N8,055.00.
“The least fare was record-ed in Kwara with N3,520.16, followed by Zamfara with N3,750.13.
“Similarly, Delta recorded the highest air transport charges (for specified routes single journeys) with N87,000.90, followed by Enugu with N85,000.00.
“Conversely, Abia recorded the least fare with N70,000.10, followed by Niger with N73,000.00. “Also, Lagos state had the highest motorcycle transport fare in September 2023 with N900.17, followed by Taraba with N850.74.”
