Price of beans rises from N316 to N481 per kg, says NBS

From Isaac Anumihe, Abuja

The National Bureau of Statistics (NBS) has reported that the average price of 1kg of beans (white, black eye, sold loose) rose year-on-year by 51.92 per cent from N316.92 in January 2021 to N481.47 in January 2022.

The statistics agency also, in its website, noted that increases were recorded on a month-on-month basis by 0.14 per cent

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“Similarly, there was an increase of 0.14 per cent month-on-month from N480.79 in December 2021. The average price of one tuber of yam also increased year-on-year by 41.15 per cent from N234.67 in January 2021 to N331.24 in January 2022. On month-on-month, the average price of yam increased by 0.76 per cent from N328.75 in December 2021,” the NBS said.

Meanwhile, the average price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) stood at N3657.57 in January 2022 showing an increase of 1.75 per cent on a month on month from N3594.81 recorded in December 2021. On a year on year, the average retail price of Cooking Gas increased by 87.66 per cent from N1949.02 in January 2021.

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The states with the highest average price for the refilling of 5kg Cylinder for Liquefied Petroleum Gas (Cooking Gas) were recorded in Niger with N4125.00, Benue with N4110.00 and Cross River with N3994.88, while the states with the lowest average price were recorded in Adamawa, Yobe and Bauchi with N2410.39, N2555.85 and N2599.37 respectively.

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Price analysis by zones shows that the average retail price of Cooking Gas was highest in the South-East with N3896.03 followed by North-Central with N3856.87 and South-South with N3805.43, while the zone with the lowest average retail price was the North-East at N3166.33. The average price for the refilling of 12.5kg Cylinder for Liquefied Petroleum Gas (Cooking Gas) increased to N7413.25 in January 2022 from N7332.04 in December 2021 by 1.11per cent on a month on month.

Similarly, on a year on year, the average retail price for refilling 12.5kg cooking gas increased by 77.45 per cent from N4177.55 in January 2021. The states with the highest average price for the refilling of a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) were Osun with N8525.00, Abuja with N8400.00 and Oyo, N8225.00.

While the states with the lowest average price for the refilling of a 12.5kg Cylinder for Liquefied Petroleum Gas (Cooking Gas) were Borno, Yobe and Bayelsa with N5881.39, N6625.00 and N6711.96 respectively. The average retail price of a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) by zones shows that the average retail price was highest in the South-West at N7835.07 followed by the North-Central and North-West with N7679.19 and N7463.94 respectively. The South-South Zone recorded the lowest price with N7017.54.

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