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Food prices have soared in September – NBS

The National Bureau of Statistics (NBS) reports that prices of essential food items, including beans, eggs, bread, rice, and tomatoes, experienced significant increases in September 2024.

The NBS said this in its Selected Food Prices Watch report for September 2024 released in Abuja on Wednesday.
The report said that the average price of 1kg of brown beans increased by 281.97 per cent from N716.97 recorded in September 2023 to N2,738.59 in September 2024.

“On a month-on-month basis, 1kg of brown beans increased by 6.37 per cent in September from the N2,574.63 recorded in August 2024.”

It said that the average price of medium-sized Agric eggs (12 pieces) increased by 137.43 per cent on a year-on-year basis from N1,047.47 recorded in September 2023 to N2,487.04 in September 2024.

“On a month-on-month basis, the eggs increased by 8.46 per cent from the N2,289.19 recorded in August 2024.”
The report said that the average price of sliced bread increased by 115.74 per cent on a year-on-year basis from N708.36 in September 2023 to N1,528.19 in September 2024.

“On a month-on-month basis, the price increased by 4.68 per cent from the N1,459.85 recorded in August 2024.”
In addition, the average price of 1kg of local rice rose by 152.92 per cent on a year-on-year basis from N757.06 in September 2023 to N1,914.77 in September 2024.

“On a month-on-month basis, it increased by 4.57 per cent from N1,831.05 recorded in August 2024.”
Also, the report said that the average price of 1kg of boneless beef increased by 99.99 per cent on a year-on-year basis from N2,816.91 in September 2023 to N5,633.60 in September 2024.

“However, on a month-on-month basis, the price decreased by 1.44 per cent from the N5,553.80 recorded in August 2024.”

The NBS said the average price of 1kg of tomato also increased on a year-on-year basis by 152.94 per cent from N 565.69 recorded in September 2023 to N1,430.87 in September 2024.

“However, on a month-on-month basis, the average price of 1kg of tomato declined by 5.01 per cent from N1,506.35 in August 2024 to N1,430.87 in September 2024.”

On state profile analysis, the report showed that in September 2024, the highest average price of 1kg of brown beans was recorded in Bauchi at N3,450.04, while the lowest was recorded in Adamawa at N 1,800.

It said that Niger recorded the highest average price of medium size Agric eggs (12 pieces) at N3,000.84, while the lowest was in Borno at N2,075.58.
The NBS said that the highest average price of sliced bread was recorded in Rivers at N1,852, while the lowest price was recorded in Yobe at N982.79.

According to the report, Kogi recorded the highest average price of 1kg local rice (sold loose) at N2,688.04, while the lowest was reported in Benue at N1,229.14.

The report said the highest price of 1kg of tomato was recorded in Abuja at N2,212.61, while the lowest price was recorded in Kano at N656.21.
Analysis by zone showed that the average price of 1kg of brown beans was highest in the South-South at N3,241.46, followed by the North-Central at N2,935.96.

“The lowest price was recorded in the North-West at N2,316.42.”
The North-Central and North-East recorded the highest average price of medium-sized agricultural eggs (12 pieces) at N2,833.42 and N2,501.79, respectively, while the lowest price was in the North-West at N2,249.65.

The report said that the South-South recorded the highest average price of sliced bread at N1,812.08, followed by the South-East at N1,655.80, while the North-East recorded the lowest price at N1,351.92.

The NBS said also that the North-East and the South-East recorded the highest average price of 1kg of local rice (sold loose) at N2,031.96 and N2,015.92, respectively.

“The North-West recorded the lowest price of 1kg of local rice (sold loose) at N1,714.31.”

The News Agency of Nigeria (NAN) reports that in July, the Federal Government in a bid to address the incessant increase in food prices and ensures food security, granted a 150-day duty-free import window for some food commodities.

The suspended duty tariffs and taxes will be on the importation of certain food items across the land and sea borders which include maize, cowpeas, wheat, and husked brown rice.

However, experts have suggested more sustainable measures such as addressing the issue of insecurity, foreign exchange and transportation costs to address the soaring food prices and ensure food security.

(NAN)

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NNPC hasn’t authorised sale of petrol to marketers – Dangote refinery replies IPMAN

The Dangote Petroleum Refinery has stated that it has not received any payments from the Independent Petroleum Marketers Association of Nigeria (IPMAN) for refined petroleum products, clarifying its position amidst ongoing concerns from oil marketers regarding petrol supplies.

According to a statement on Thursday, October 31, by Anthony Chiejina, the group’s chief branding and communications officer, the refinery has no business dealings with IPMAN and cannot be held accountable for any payments made to the Nigerian National Petroleum Corporation (NNPC).

This comes after Aliko Dangote, founder of Dangote Industries Limited (DIL), noted that the refinery holds over 500 million liters of petrol, yet oil marketers are reportedly not purchasing the product. IPMAN, however, countered by claiming its members have struggled to load petrol from the refinery, despite having paid N40 billion to NNPC.

Chiejina confirmed that while discussions with IPMAN are ongoing, there are no direct business arrangements between the two. He emphasized, “It is misleading to suggest that they (IPMAN members) are experiencing difficulties loading refined products from our Petroleum Refinery, as we currently have no direct business dealings with them. Consequently, we cannot be held responsible for any payments made to other entities.”

The Dangote Refinery reiterated its capacity to meet national demand for various petroleum products, including petrol, diesel, and aviation fuel, capable of loading 2,900 trucks daily and transporting products by sea. The refinery also advised IPMAN to register and make direct payments for access, assuring, “There is more than enough petroleum product to satisfy the needs of their members.”

Chiejina urged stakeholders to avoid unsubstantiated media statements, warning that such actions could impede economic progress under President Bola Ahmed Tinubu’s administration. The statement called for collaboration among stakeholders, aligning with Tinubu’s economic re-engineering initiatives.

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Fake condoms flood Nigerian market, NAFDAC raises alarm

The National Agency for Food and Drug Administration and Control, NAFDAC, has raised the alarm on the illegal sale and distribution of fake brands of condoms in Nigeria.

NAFDAC said officials from the Post-Marketing Surveillance Directorate discovered Foula condoms (packaged in threes) in Abakaliki, Ebonyi State, and Zango, Katsina State.

The agency said the product is not registered for use in Nigeria, stressing that the labelling of the product is not in the English language.

While warning that if the unregistered condoms leak or break they cannot offer adequate protection, NAFDAC directed its zonal directors and state coordinators to combat the issue, enhance surveillance, and eliminate these unregistered products.

It stated that the illegal distribution or sale of unregistered condoms poses a risk as the safety, quality, and efficacy of the products are not guaranteed.

“The purchase and use of poor-quality condoms will adversely affect every aspect of condom promotion for the prevention of unintended pregnancy and protection against HIV and other sexually transmitted infections. If condoms leak or break, they cannot offer adequate protection.

“All NAFDAC zonal directors and state coordinators have been directed to carry out surveillance and mop up the unregistered products within the zones and states.

“Importers, distributors, retailers, healthcare professionals, and consumers are hereby advised to exercise caution and vigilance within the supply chain to avoid importing, distributing, selling, and using illegally distributed products. All medical products/medical devices must be obtained from authorised/licensed suppliers,” it said.

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Ogun Govt solicits U.S. support for developmental programmes

Ogun Governor, Dapo Abiodun, has said that his administration would welcome supports from the United States’ Government in its efforts at improving the lives of the people of the State.

Abiodun stated this on Thursday when he received the Ambassador of the United States of America to Nigeria, Mr. Richard Mills, who paid him a courtesy call in his office at Oke-Mosan, Abeokuta.

The governor, represented by his Deputy, Engr Noimot Salako-Oyedele informed the envoy that his administration has invested a lot in the past five years in the area of empowering the people in line with his vision to improve their ves and living standard.

Abiodun said: “Our vision on assumption of office was to improve the lives and livelihood of our people and the policies of the present administration over the past five years have been consistent.

“We have put a lot on the empowerment of our citizens. We had the Oko’wo Dapo programme where about 100,000 women benefitted to improve their financial capacity because we know that even though we have huge investments at the top end, the engine room of the economy is still the Small and Medium Scale end of it.

“We are working hard to put things in place that will leave a legacy of sustainable development and improve the lives of the people. As a State, we look forward to the support of the United States Government in what we are doing and we are open to work with you and partner with you on any initiative that you have which will improve the lives of our people.”

The governor added that his administration has invested hugely on infrastructure while adequate policies that provide for business friendly environment has been put in place, noting that this has led to more business inflow into the State, especially, Foreign Direct Investments in the last five years.

According to him, facilities such as the Agro-cargo Airport, has been provided to complement the various sectors of the State’s economy and the industries domiciled in the State to enable them import and export their goods without much stress.

“Just a few days ago, we had the ground breaking ceremony for our dry port so I hat our investors and manufacturers would not need to go all the he way to Apapa Port.

“We are also having our integrated transport system to make sure that we make Ogun State desirable for investments and we hope that with these projects added to all the other things we are doing, Ogun State would continue to be attractive for business and we look forward to doing more business with United States based companies,” he added.

Responding, Ambassador Richard Mills described the Ogun State as dynamic in the area of business and economic opportunities with a great deal of American investments.

He said through his discussion with the government officials, he has come to realize interesting programmes from small businesses to women entrepreneur as well as huge investments opportunities that abound in the State.

The Envoy said: “Ogun State is the State I wanted to visit for a long time since I arrived in Nigeria. It is a State where we can learn a lot, share programmes based on the successes that you have here.”

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