Business
Flooding Shoots Up Food Prices
Prices of some items have skyrocketed in markets in Umuahia and environs following the rising demand occasioned by flooding in some neighbouring states.
A survey conducted by the our correspondent at the weekend in Umuahia Main Market, Orie Ugba and Ahiaukwu Olokoro markets showed that price of garri and plantain have increased.
Mrs Eucharia Ikoro, a garri dealer, said a measure of garri, which sold for N9, 000 about two weeks ago, was now N18, 000.
“Since the sudden hike, we now sell the custard bucket measure of garri for N600 against N300, while the two and half cups measure now sells for N100.
“Our customers from Rivers, Bayelsa and Akwa Ibom states, who complained that flooding had made their cassava to rot, are the ones causing demand for garri to go up here,“ she said.
Ikoro said that “a sizeable head of plantain“ was now between N1, 300 and N1, 700, depending on the customer’s bargaining power.
Mr Sydney Uzor, a rice dealer in Umuahia Main Market, said that price of a 50kg bag of imported rice had increased by 10 per cent.
“The flooding of our neighbouring states is causing prices of food items to increase.“ he said.
He said that the price of local rice from Abakaliki had equally witnessed a slight change, explaining that a 50kg bag of the local rice was now N7, 000 against N6, 200 in August.
Uzor, however, said that prices of beans, wheat, maize, and groundnut had been stable in the last three weeks.
He said there were indications that prices of food items would still go up before the Christmas and New Year festivities.
“If the flooding continues, then things will likely go from bad to worse for us,“ he said.
Mr John Okoro, another food items seller, told our correspondent that demand for rice and wheat had risen due to the higher prices of garri and plantain.
He said that there was the need to urgently address the food supply chain to avert “high scale hunger“.
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BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
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