Amidst increasing economic challenges, the cost of one kilogram of local rice skyrocketed by 98.47% in January 2024, reaching N1,021.91 compared to N514.83 in the same period last year.
This information was recently revealed by the National Bureau of Statistics in its report titled ‘Selected Food Prices Watch’ for January 2024.
Furthermore, the report indicated a monthly increase of 11.31% in the price of 1kg of rice, rising from N917.93 in December 2023.
According to the state profile analysis for January 2024, Abuja recorded the highest average price for 1kg of local rice at N1,350, while Benue had the lowest at N800.64.
It is noted that Nigeria’s food inflation climbed to 35.42% in January.