In 2020, the Nigerian Bureau of Statistics reported that prices of food items had risen as much as 30%.
This price hike was caused by factors such as the border closure, poor storage facilities, insecurity, and one of the major factors; the COVID-19 Pandemic.
To curb the pandemic, lockdowns in major cities were ordered and this led to the shutdown of markets, shops, and a decline food transportation networks.
This led to inadequate food supply and low agricultural production thus affecting the price of available food items.
Today, lockdowns have been eased to gradually restore normalcy while taking other measures to fight the pandemic.
However, the prices of some food items are still high. What food price hike have you experienced lately? And how long do you think the price hike will last?