OH NO!! Cost Of Food Stuffs Surges By 110.7% In Nigeria

The cost of healthy food doubled by 110.7 per cent to 1,035 for a meal per day in April 2024, compared to N491 on a year-on-year basis amid economic hardship.

The National Bureau of Statistics disclosed this in its latest report on the cost of a Healthy Diet in April 2024.

The report said every month, the figure rose by 5.4 per cent from N982 in March.

“The National Average Cost of a Healthy Diet was N1,035 in April 2024. This is 5.4 per cent higher than the amount recorded in the previous month (March 2024, was N982)”, the report said.

Similarly, the report also revealed that Ekiti, Ogun, and Osun states recorded the highest cost with N1, 483, N1,447, and N1,417 respectively. Kogi and Katsina accounted for the lowest costs with N709, followed by Kaduna and Nasarawa with N756 and N769, respectively.

The development comes as headline and food inflation increased to 33.69 per cent and 40.53 per cent respectively, in April.

On May 29, President Bola Tinubu marked his one year in office amid tremendous economic challenges, including soaring inflation and the foreign exchange crisis.

The Minister of Finance, Wale Edun, said the government will double up its efforts in actualising food security in the next six months.

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