Yam Prices Increase in Local Markets Amidst Export by Nigerian Government

The National Bureau of Statistics, NBS, on Monday said that the price of yam increased in June, amid exportation of the foodstuff to Europe.

Data released by the bureau for June 2017 , tagged ‘Selected Food Price Watch’ revealed that the average price of 1 kilogram of yam tuber increased by 32.84 per cent between June 2016 and June 2017.

Similarly, there was a 4.62 per cent increase in the price of the product between May and June, as the price of 1 kilogram of yam jumped to N292.06 from N279.15 in May.

The development came after the Nigerian government began to export yams to Europe and the United States, as part of moves to diversify its oil-dependent economy and earn much-needed foreign exchange.

Agriculture minister, Audu Ogbeh, who flagged off the first consignment of yam from the port in June, said, “Oil and gas cannot employ millions of people just like agriculture so the country must work hard to move from oil to earning foreign exchange from agriculture.”

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