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Tag: food price

Cost of cooking Jollof rice rises by 19.6%
News

Cost of cooking Jollof rice rises by 19.6%

The cost of preparing a pot of jollof rice has surged by 19.6% from March to June 2024, according to the latest SB Morgan Jollof Rice Index. The average expense has risen from N16,955 to N20,274, driven by significant price increases in essential ingredients such as tomatoes, peppers, rice, turkey, and beef. In Onitsha, the […]

Food drives August's inflation rate to 25.80% - NBS
News

Global food price index drops to two-year low – FOA

The World Price Index of the United Nations Food Agency reached a record two-year low in August, undoing July’s temporary uptick. The Times reported that the majority of food commodity prices fell, which caused this reversal, while there were price rises for rice and sugar. The Food and Agriculture Organisation said on Friday that the average value […]

31.5 million Nigerians at risk of food crisis - Report
featured News

Rice prices to increase as India bans product exports

The world’s biggest rice exporter, India has banned some overseas sales of the grain “with immediate effect”, in a move that could drive international prices even higher.   Rice is a major world food staple and prices on international markets have soared to decade highs as countries, especially, Nigeria, grappled with the Covid pandemic, the […]

As regional groups across the country continue to condemn the hardship faced by citizens, attributed to the removal of fuel subsidy and the foreign exchange crisis which has led to food inflation and high transport cost.
Foods

Naira, fuel crises cause food shortage in Kaduna

Residents of Kaduna State have cautioned of approaching starvation as a result of fuel shortages and new currency that have disrupted the state’s food supply system. DAILY POST reported  that due to lack of money and fuel, several business people that sell food and ingredients have reduced their supplies. “The majority of my suppliers have […]

World Bank punishes Nigerian firms, individuals for corruption
Economy

Commodity prices’ll remain high in Nigeria, others – World Bank

The World Bank has said that the war in Ukraine has dealt a major shock to commodity markets, altering global patterns of trade, production, and consumption in ways that will keep prices at historically high levels through the end of 2024. The World Bank said this in its latest Commodity Markets Outlook report. According to […]