As Nigerians battle to come in terms with the economic hardship which seem to have come to stay, the National Bureau of Statistics has published its April Consumer Price Index and Inflation report.
In the latest report, the NBS highlighted three Nigerian states grappling with the highest food prices.
Kogi, Kwara, and Ondo are reported as the states with the highest food prices in Nigeria.
With the report ranking Kogi State having the highest food inflation rate at 48.62 per cent, followed by Kwara at 46.73 per cent and Ondo at 45.87 per cent on a year-on-year basis.
Food Prices
On the other hand, Adamawa (33.61 percent), Bauchi (33.85 percent), and Nasarawa (34.03 percent) recorded the least increase in food inflation.
Meanwhile, Lagos, Edo, and Yobe are the Nigerian states with the highest food prices on a month-to-month basis.
According to the data, Lagos (4.74 percent), Edo (4.06 percent), and Yobe (3.99 percent) experienced the lowest increase in food inflation.
This development coincides with April’s headline inflation and food inflation surging to 33.69 percent and 40.53 percent, respectively.
Consumer Price Index
A latest consumer price index and inflation report was released by the NBS.
In that report, Nigeria has again experienced a surge in inflation, rising to 33.69 per cent in April from 33.20 per cent in March.
This increase reflects the country’s ongoing economic hardship.
Renewed Shege
Sadly, inflation has been persistently on the rise since the beginning of President Bola Ahmed Tinubu’s administration.
Also Read: Nigeria’s Headline Inflation Rate Rises By 0.87 As Food Prices Soars
President Tinubu kicked off his administration on May 2023.
Since then, Nigerians have seen ‘Renewed Shege’ as social media users would call it.
In May 2023, inflation stood at 22.41 per cent.
It has steadily increased to 33.69 per cent in April this year.
