NBS: Food Prices Remain Major Pressure Point In April

本站添加: 2026-05-18

[00:00:00]Nigeria's inflation challenge persist, but the latest figures from the National Bureau of Statistics suggest a price precious may be easing gradually. Well, the consumer price index for April shows headline inflation rose slightly to 15.69% year-on-year or from 15.38% recorded in March. However, on a month-on-month basis, inflation slowed sharply to 2.13% from 4. 18% in March, indicating a moderation in the pace of rising prices. Well, food prices remained the biggest driver of inflation. The NBS says the increase is fueled by higher cost of staple items including millet, yam flour, fresh ginger, beef, garri, beans, tomatoes, wheat, grain, soybeans, and plantain, all of which continue to put pressure on household spending. We used to buy garri.

[00:01:03]Like garri, we buy one bag of garri 35,000.

[00:01:07]But now they added the price to 45,000.

[00:01:11]See, the difference is 10,000 naira difference. So, and when we complain, then they complain of um um fuel price. A bag of crayfish now is 480,000.

[00:01:24]Ogbono, 350.

[00:01:26]But the last month we bought it like 200 uh like ogbono. We bought 250,000.

[00:01:32]But now it's uh gone up. January this year, the a measure of beans was 800 naira, but today as I'm talking to you right now, it's uh around 1,500 to 1,800 naira. The major problem of the hike in pro in in in our products these days is because of is because of the transportation system. The hike in in transportation is too much. Much basically everything. Like perishable things, the price is still there. Like carrots, you can't get carrots for 1,000 naira. It's from 3,000 to 5. So, really basically it's not really everything that the price has really subsidized.

[00:02:08]Small bag that they will carry for me for 5,000, 10,000. The guy is calling almost 25,000 naira. And it's crazy, you know. Everything that was just shouting is the fuel. The fuel The fuel is expensive now. So, what do we do? I think Nigeria don't deserve this. We have We are blessed.

[00:02:26]We don't deserve to suffer. We are not Togo. We are not We are not Cotonou. Cotonou is even doing better than us. Togo.

[00:02:35]Burkina Faso. Mali.

[00:02:38]Nigeria have abundant blessing.

[00:02:42]Across the state now, Sokoto uh state recorded the highest annual items inflation rate at 25.74% followed by Bauchi and Zamfara. Edo, Borno, and Jigawa posted the lowest inflation rate uh nationwide in April.

[00:02:58]Well, analysts say Nigeria's inflation trend is also being shaped by renewed global commodity price pressures. Rising global geopolitical tensions in the Middle East, especially disruptions around the Strait of Hormuz, uh is pushing price of crude oil to around 120 US dollars four cent per barrel in April from around 103.7 dollars in March. Now, despite signs of easing, analysts warn that persistent food inflation and external shocks could keep prices elevated in the near term.

[00:03:35]Attention is now turning to the Central Bank's Monetary Policy Committee meeting, which is expected soon, where policymakers are expected to decide whether current monetary tightening measures are sufficient to sustain disinflation and stabilize prices uh across Nigeria.

[00:03:54]From Nigeria's capital, Abuja, Frank Olalape, Arise News.