Nigeria

Nigeria: Borno and Yobe States Market Monitoring Report, May 2020 - Issue 36

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Situation Report
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Highlights

• Prices of most food commodities in Borno and Yobe states are still relatively higher by more than 10 percent compared to same period in 2019. The combined effect of seasonality and prolonged disruption in market supply and loss of employment including daily labor due to the COVID 19, coupled with the persistent insecurity, remains a constraint for market reliant households in the northeast.

• Between April and May, the cost of the Survival Minimum Expenditure Basket (SMEB) for a family of five increased slightly from 17,806 Naira to 17,912 Naira in Maiduguri and Jere.
Similarly, in Damaturu, the SMEB increased by two (2) percent between April and May (from 13,579 Naira to 13,798 Naira).

• Compared to three months ago, prices for local rice was mainly higher in Tashan Bama (14%), Budum (17%), Kasuwan Shanu (19%), Bullumkutu (21%), Custom (23%), Baga road (25%), Abbaganaram (31%) and Monday markets (35%) of Borno state. A similar trend was observed in Bursari (14%), Yusufari, Yunusari(25%), Potiskum (29%), Jakusko (33%), Nguru, Gashua (41%) and Geidam (43%) markets of Yobe state.

• Likewise, the prices of red beans were observed to increase when compared to the prices in February 2020. A significant increase was recorded in some markets such as Bursari and Potiskum (33%), Yusufari (40%), Jakusko (48%), Gashua, Nguru (50%), Damaturu (54%) and Geidam (67%) markets of Yobe state, and also in Tashan Bama (16%) and Custom (26%) markets in Borno state.

• Prices of staple cereals are expected to marginally increase or remain stable in the coming months due to the onset of the lean season with its associated diminishing household stock levels. Despite the decline in petrol prices from NGN 145 to 125 per litre, the annual inflation rate, which witnessed the highest increase of 12 percent since April 2018, will likely contribute to an increase in food prices. These, coupled with the negative impact of the coronavirus pandemic and weakened naira, would likely drive up current price levels.