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The National Bureau of Statistics (NBS) revealed in its Selected Food Prices Watch report for December 2023 that the average price of 1kg of boneless beef increased by 32.38% from ₦2,377.29 in December 2022 to ₦3,146.94 in December 2023. Additionally, 1kg of local rice experienced a month-on-month increase of 5.85% from ₦867.18 in November 2023. The average price of 1kg of brown beans rose by 48.54% year-on-year from ₦586.14 in December 2022 to ₦870.67 in December 2023.
The report highlighted that the average price of 1kg of onion bulb increased by 122.94% year-on-year, rising from ₦435.93 in December 2022 to ₦971.86 in December 2023. On a month-on-month basis, the price surged by 42.13%. Similarly, the average price of 1kg of tomato rose by 77.60% year-on-year, reaching ₦814.16 in December 2023. On a month-on-month basis, tomato prices increased by 7.32%.
State profile analysis indicated that the highest average price of 1kg of boneless beef was recorded in Osun at ₦3,981.04, while Gombe had the lowest price at ₦2,600. Abuja recorded the highest average price of 1kg of local rice at ₦1,250, while Zamfara had the lowest at ₦696.55. For brown beans, Akwa Ibom had the highest average price at ₦1,120.92, and Jigawa had the lowest at ₦586.04. The highest average price of 1kg of onion bulb was recorded in Rivers at ₦1,433.13, and Adamawa had the lowest at ₦465.41. In terms of tomato prices, Delta had the highest at ₦1,461.87, and Borno had the lowest at ₦390.05.
The analysis by zone indicated that the South-East had the highest average price of 1kg of boneless beef at ₦3,675.24, while the South-West followed at ₦3,586.77. The South-East recorded the highest average price of 1kg of brown beans at ₦1,048.54, followed by the South-West at ₦1,013.35. The South-South had the highest average price of 1kg of onion bulb at ₦1,310.47, while the South-East followed at ₦1,065.83. The South-South also recorded the highest average price of 1kg of tomato at ₦1,327.98, and the South-West followed at ₦1,068.17. The North-West had the lowest prices for both 1kg of tomato at ₦460.64 and 1kg of boneless beef at ₦2,678.74.
