Food prices in Nigeria experienced a further increase in September 2022, according to the Selected Food Prices Watch Report for September 2022, published by the National Bureau of Statistics (NBS).2 The report highlighted the change in prices of some selected food items. For example, the average price of 1kg of Tomato on a year-on-year (YoY) basis increased by 30.06 percent, from N342.25 recorded in September 2021 to N445.12 in September 2022 and on a month-on-month (MoM) basis, 1kg of tomato increased by 3.29 percent to N445.12 in September 2022 from N430.93 recorded in August 2022. Also, the average price of 1kg of rice (local, sold loose) rose on a YoY basis by 14.98 percent from N410.01 recorded in September 2021 to N471.42 in September 2022, and on a MoM basis, the average price increased by 3.82 percent. Also, the average price of 1kg of beans (brown, sold loose) increased on a YoY basis by 13.14 percent from N492.13 recorded in September 2021 to N556.81, and on a MoM basis, 1kg of beans rose by 2.05 percent from N545.61 in August 2022. Tomato, rice, and beans are major food items consumed daily in Nigeria. Food is a necessity, and a must-have for every household, implying that the increase in food prices leaves many households worse off. The rising prices can be attributed to disruptions in food supply occasioned by insecurity and recent floods in most parts of the country. Hence, there is a need to support farmers by addressing the problem of insecurity and flooding as well as providing them with improved seedlings to boost food production and reduce the extent of increase in food prices in the country.
