Inflation: Indomie Price Jumps 111% Since January

Indomie ‘Super Pack’, a popular brand of noodle loved and consumed by Nigerians, which sold for N8,500 earlier in the year a carton has hit a price of N18,000, increasing by 111%, GWG.ng reports.

Lovers of the small pack of Indomie which sold for N5,000 per carton now has a price of N11,000. 

Meanwhile, five litres of groundnut oil previously sold for N7,000 now sells for N11,000.

In Jos, where Irish Potatoes are cultivated, a bag of Irish Potatoes which was previously sold for N25,000 now sells for N40,000.

Two market surveys carried out by Peoples gazette in February revealed that prices of food items have increased by over 100% since President Bola Ahmed Tinubu assumed office last year.

In the past weeks, protests over hunger and spiking prices have erupted in Niger, Osun, Ibadan and Lagos states as Nigerians urged the government to ameliorate their sufferings.

President Tinubu, in response to public outcry on the rising cost of food driven by skyrocketing inflation in the country, had directed the Ministry of Agriculture and Food Security to release about 42,000 metric tonnes of grain, including maize, millet and garri. However the president has limited option on the price of Indomie which is locally manufactured and has its price dictated by market forces.

The President also charged the National Security Adviser, Nuhu Ribadu, State Security Service and Nigerian police to go after food hoarders.

Send Us A Press Statement Advertise With Us Contact Us

 And For More Nigerian News Visit GWG.NG