Geopolitical Zones With The Highest Food Inflation in Nigeria
- Food inflation is currently ravaging many states in Nigeria, with most geopolitical zones witnessing the highest surge in food prices.
- According to recent data by the National Bureau of Statistics, the southeast is the hardest hit.
- The south-south came next with the highest food prices, followed by north central and other regions.
Food inflation has remained the biggest arrowhead for inflation in Nigeria.
According to a recent report by BusinessDay, the Southeast geopolitical zone is leading the pack in food inflation in Nigeria.
Source: Getty Images
IPOB's seat-at-home responsible for food inflation in the region
The states of Abia, Anambra, Ebonyi, Enugu, and Imo recorded the highest spike in food prices for the fourth time.
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The reason, analysts believe, is the general insecurity pervading the region. In addition, the weekly sit-at-home order by the proscribed Indigenous People of Biafra (IPOB) has also contributed to driving up the food price in the region.
According to the National Bureau of Statistics (NBS), beans, beef, bread, onion, palm oil, garri, rice, tomato, wheat, and yam recorded the highest price spike.
Among the 44 food prices listed by the NBS, the southeast witnessed the highest surge in those food prices.
Breakdown by regions
In May, June and July of 2022, the 44 listed food items in the southeast saw the highest number of surges. It appeared 23,23, and 19 times respectively.
The prices of the food items in the southeast were N25,699 and were followed by South-south at N22,065; the Northwest came third at N21,126 was the fourth place with N21,024 followed by the North Central with a total price of N15,237.
The Northeast had the lowest price, with a total price of N13,767.
Debt Stock: Nigeria's most indebted geopolitical zones in 2022
Legit.ng has reported that according to data from the Debt Management Office (DMO), Nigeria's total debt stock has hit over N41 trillion as of March 2021.
The breakdown of the debt, tabulated by Legit.ng shows that the various states in Nigeria contribute immensely to the national debt stock.
According to reports, Nigeria's total public debt stock rose from N39.56 trillion in December 2021 to N41.60 trillion, $100.07 billion in the first three months of 2022, January to March, the Debt Management Office (DMO) revealed yesterday.
Source: Legit.ng
