On Thursday, the National Bureau of Statistics (NBS) said Nigeria’s inflation rate climbed to 29.90 per cent in January 2024.
PEOPLE’S GAZETTE
Since President Bola Tinubu assumed office on May 29, 2023, his economic policies have made life more difficult for Nigerians as the prices of staple food have gone up amid worsening inflation.
On Thursday, the National Bureau of Statistics (NBS) said Nigeria’s inflation rate climbed to 29.90 per cent in January 2024.
Market findings have now revealed that one pack of Spaghetti that was formerly N80 is now N950; one carton of Titus fish which used to be N40,000, is now N76,000; one medium size of Blue Band butter that was once N500, is now N1,400; the price of 50kg bag of rice has risen to N77,000 from N35,000, while a 100kg bag of dry white old maize that used to be N18,000 is now sold for N58,000.
Other prices of other food items include: one packaged Titus sardine which used to be N350, is now N1,020; a single pack of Indomie is now N150 from N50; a pack of salt is sold at N400 from N100; the small size of Semovita now goes for N700 from N300; a single egg now costs N300 from N110; a paint bucket of garri that was sold at N1,000, is now N3,000; the price of a paint bucket of beans has risen from N1,500 to N3,000 while the price of a small goat has risen from N15,000 to N35,000.
Furthermore, a big Butterfield bread that was once sold for N350 now costs N900; the price of the cheapest toothpaste, which is MyMy, has now jumped from N150 to N500 while transportation costs along with the cost of a bus to load plantains from Ondo to Ogun State costs N100,000.
The Nigeria Labour Congress, on Friday, declared a two-day nationwide strike billed for February 27 and 28, 2024, to make the federal government address the rising hunger and economic hardship in the country.
