You know they say "better late than never", and I am better late to this than not doing it at all. Hi @terganftp, sincere apologies for the delays, been really busy with a lot outside the chain.
I've seen you've got the prices of staple foods already here in Nigeria, and I must commend you for your work and efforts in critically analysing the Nigerian economic situation. It's been a long, exciting and worthwhile journey with you birthed by the Hive Learners prompt on inflation where we live.
Enough of the preamble, what's this post all about? I intend to provide a run down of the current prices of staple foods, but what is more, I delved deeper, to share there inflated prices from 3-9 months before, compared to current prices.
Trust me, it would interest you how bad the situation has been in Nigeria.
Slide One
* There's an error in the percentage calculation for sugar, it's 100% instead of 133.3%
Slide Two
Analysis of the Findings
It is important to note that these are personal observations and no stringent scientific processes where employed to provide these slides. However, I can guarantee that what you're seeing here is nothing too far from the reality here in Nigeria.
As is seen in the slides above, inflation has risen from about 16% for some items to above 100% for others.
Inflation is so high and out government is just clueless as to the correct path to take to curb the rising inflation (or maybe they seem totally uninterested?).
Why we wait to top-level intervention, we Nigerians are defaulting to extreme frugality, as we just want to survive and make ends meet. We hope things get better soon, but till then, we continue Being Frugal and Not Stingy as much as our circumstances permit.
I sent along a tip for your hard work. I really appreciate it. I did have a few questions though.
120 Naira is that the price for one egg?
Rice at 250 Naira per cup? Seems high to me but then I usually purchase in bulk.
Peanut at 120 Naira per kg? Seems way too cheap. Also oatmeal at 250 / kg the same at flour? In Canada Oatmeal is about 3x the price of flour.
Soybean at 1100N/900g that hurts. In bulk 100kg bag it seemed so much cheaper per kg when I was looking online.
But...
..... awesome job! Thank you so much.
Okay. I think I flopped a bit with the unit of measurements here and there.
For this:
They are for about the same cup referenced for rice above not per kg.
The container in the picture is usually cut open and used as a standard for measurement for "cups" in most Nigerian markets
Ouch. I was hoping you were right about Peanut and Oatmeal being price per kg... then eating becomes easier. If per cup...I'm certainly looking at buying bulk. No way to feed yourself at those prices in small quantity. Well, at least flour and sugar are reasonable that gives a starting point.
Thanks again.
Welcome and thanks. I hope to write and share more soon!
Yay! 🤗
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Seriously, inflation is on the increase in Nigeria. It is not hidden anymore that the government really don't know how to curb the situation on ground but we will not relent like you said, we have to survive, nevertheless we must not be stingy to ourselves lol.. thanks for sharing this with us
You're welcome emreal. I appreciate your very presence here! 😎
Smiles.. you are most welcome ma
Thank you so much for the support by posting in this community!