Infographic: How expensive are everyday items in Nigeria?

Infographic: How expensive are everyday items in Nigeria?

Since 2016, the Nigerian economy, Africa’s largest, has suffered two recessions and the prices of basic necessities have skyrocketed.

More than ever before, Nigerians are struggling to buy food commodities as the country struggles through a record hike in inflation, signalling what experts warn is a “food crisis”.

Staple prices have risen for a third consecutive year, the results of Africa’s largest economy bowing under the weight of a barrage of factors that are driving more of its estimated 200 million people into poverty.

Prices of staples over time

The cost of basic necessities has more than doubled in many cases (Al Jazeera/SBM Intelligence)

Nigeria, a major crude producer, is heavily reliant on oil imports, leaving its economy extremely vulnerable to volatile oil prices.

As one economist put it, when the oil market sneezes, Nigeria catches a cold. But worsening insecurity and climate change effects, as well as COVID-19 aftershocks, have severely dented the economy even more, plunging the naira to frightening new lows against the dollar in recent months.

Consequently, nearly half of the population remains in poverty. Millions face food insecurity already, with more expected to join this year, according to the UN’s food agency.

As it stands, Nigeria is home to the largest population of poor people worldwide. As many as four out of 10 people live on less than a dollar a day – below the poverty line.

…Meal costs have risen sharply. The cost of making a pot of jollof, for example – a rice dish that is beloved across Nigeria’s numerous tribes – has doubled in the last six years.

A pot for a family of five – the national average – has gone from costing about N4000 (naira), or $9.6, in 2016 to more than N8,500 ($20.5) in March this year, representing a little more than a 100 per cent increase.

In some parts of the country, those prices went as high as N10,000 ($24.1), according to Nigerian sociopolitical firm SBM Intelligence.

Soaring food prices

The price of rice, a staple eaten by Nigerian families almost daily, has increased several times in the past years. In 2016, before low oil prices forced Nigeria into a recession, a 50 kg bag of rice cost about N14,000-15,000.

Today, those prices have almost doubled, reaching N25,000-28,000.

The cost of making jollof rice, one of West Africa’s beloved dishes and a common meal across Nigeria, has more than doubled in about five years. [Al Jazeera/(SBM Intelligence) (PDF)]


Tomatoes have also been affected, as well as meat and poultry products. Many buyers are cutting back on consumption, traders say. While some are opting to have tinier pieces of meat on their meals – akin to going from a bun-sized chunk to sugar cube cuts – others are swapping meat for eggs, a cheaper source of protein.

Other staples

Other staples like garri – a cassava byproduct produced locally – have seen dramatic price swings too…

Read the full article in Aljazeera 


0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments