The Bank of Industry (BOI) has unveiled a new mobile app to help Nigerians monitor real-time food prices.
The app, commissioned today, covers eight states and enables users to compare the costs of essential food items like rice, beans, tomatoes, and maize in both wholesale and retail markets.
The App, accessible through the web platform, Pricesense.ng, the service provides detailed price breakdowns by state and date, allowing consumers to analyse and track fluctuations in food prices.
It also includes options for users to view data by brand and quantity, offering a detailed overview of market trends across the featured states: Borno, Plateau, Rivers, Oyo, the Federal Capital Territory (FCT), Lagos, Enugu, and Kano.
Geeky Nigeria reports that that Food inflation in Nigeria has surged past 40% as of June 2024, driven by factors like unpredictable weather, insecurity in agricultural regions, and rising farming costs. Global organizations like the World Bank and FAO have raised concerns, warning of severe hunger and food insecurity affecting millions.
The Bank of Industry (BOI) in Nigeria is the country’s oldest, largest, and most successful development financing institution, established to transform Nigeria’s industrial sector. Founded in 1959 as the Investment Company of Nigeria (ICON) Limited and later reconstructed as Nigerian Industrial Development Bank (NIDB) in 1964, BOI has been instrumental in providing financial assistance for the establishment of large, medium, and small enterprises, as well as rehabilitation of ailing ones.
Read Also: WhatsApp Updates Video Calls With Filters and Backgrounds
