NBS Latest Report Shows Drastic Increase In The Prices Of Food Items, And Very Low Income For Citizens Under President Buhari

Emerging report from the National Bureau of Statistics, NBS, indicates that the prices of most food items increased in November, while the incomes for many households are still in very precarious situations, even amid the 2020 festive season.

In its Selected Food Prices Watch, SFPW, for November 2020, the NBS stated that the selected food price watch data in the review month, reflected that the average price of 1 dozen of agric eggs, medium size, increased year-on-year by 6.64 percent.

The NBS said that the commodity also increased month-on-month by 1.42 percent to N494.72 in November, from N487.81 in October.

It stated that the average price of a piece of agric egg, medium size, (price of 1) increased year-on-year by 8.68 percent, and month-on-month by 2.36 percent to N44.75 in November, from N43.72 in October.

It further stated that the average price of 1kg of tomato increased year-on-year by 25.86 percent.

The NBS stated that 1kg of tomato increased month-on-month by 2.77 percent, to N316.16 in November, from N307.63 in October.

For rice, it said that the average price of 1kg of rice (imported high quality sold loose) increased year-on-year by 23.46 percent, and month-on-month by 3.71 percent to N549.98 in November, from N530.32 in October.

The NBS said: “Similarly, the average price of 1kg of yam tuber increased year-on-year by 16.26 percent, and decreased month-on-month by -2.72 percent to N236.25 in November, from N242.87 in October.”

Also, in its Covid-19 Impact Monitoring report for October, the NBS stated that while the share of respondents who were working remained stable in October at 87 percent, findings provided further evidence that income remains precarious for many households.

It stated that of the 84 percent of households that operated a non-farm enterprise at any point in 2020, about 22 percent were not operating their businesses in October.

More news later…

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