No doubt, Nigerians are feeling the pangs of economic hardship, and one of the ways they have been affected is by the rising cost of food.
Thank you for reading this post, don't forget to subscribe!According to the International Rescue Committee, more than 34 million people in West Africa may experience starvation by the middle of this year due to conflict, climate change, and government policy.
SBM Intel created the Jollof Index, a tool that measures the cost of producing a pot of jollof rice for a typical household of five, to better show the impact of these issues on Nigerians.
The index monitors the prices of essential food items like rice, curry, thyme, seasoning, groundnut oil, poultry, beef, pepper, tomatoes, salt, and onions. It provides valuable information on Nigeria’s food inflation patterns.
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The index collects data on a monthly basis from 13 markets located across Nigeria’s six geopolitical zones, with the exception of December. During the holiday season, prices tend to rise, making December an outlier in terms of the data collected.
Jollof Rice is a staple Nigerian meal [Wikipedia]
Jollof Rice is a staple Nigerian meal [Wikipedia]
According to the research, the cost of making a pot of Jollof rice in Nigeria has increased to ₦10,882. Wuse II market in Abuja was consistently the most expensive for preparing a pot of Jollof rice, with a cost of ₦13,700, while the Trade Fair in Lagos was the cheapest, with a cost of ₦8,850. Notably, the states with the highest percentage increases are all located in the South-South region of Nigeria
The report states that, “Over seven months, from September 2022 to March 2023, the cost of preparing a pot of Jollof rice has risen from ₦9,917 to ₦10,882, marking an increase of 9.73%”
