The SBM Jollof Index tracks how much it costs to make a pot of jollof rice for a family of five
The cost of preparing a pot of jollof rice, a popular delicacy among Nigeria ns, rose from N13,106 in October to N16,955 in March 2024, a report has said.
In recent years, food prices have been on the rise across Nigeria. The situation deteriorated due to the impact of government policies such as the removal of subsidies on petrol, among others. SBM Intelligence report said Nigeria experienced one of the worst food crises between October 2023 and March 2024.
This, it said, severely affected food affordability, particularly as the country still largely depends on food imports to meet its food demands. "During this period, various interventions were implemented to alleviate the pressure faced by Nigerians. However, less than a quarter of the population enjoyed these interventions, thus questioning their effectiveness and sustainability," the report said.It said rising prices are fueling malnutrition, crime, and other social problems.
"The price of rice, Nigeria's most common staple, experienced an unprecedented hike during this period, with alternatives like spaghetti also costing more than many can afford.
News Politics Economy Trade Business Sports Current Events Travel Nigeria Economy Business And Finance West Africa
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nigeria: Chef Tolu Eros Settles Jollof Wars With 'Unity Jollof', Featuring Hollywood Star Micheal Jordan, OthersThe fierce rivalry between Ghana and Nigeria on who makes the better Jollof Rice has gone on for so long and has been so intense that it has garnered international recognition.
Read more »
Nigeria: We Will Continue to Take Difficult Decisions for Nigeria Despite Short-Term PainPresident Bola Ahmed Tinubu, yesterday, said his government would continue to take difficult decisions for the Nigerian people, despite the short-term pains that often come with such choices.
Read more »
Nigeria: Sugar in Infant Formulas - NAFDAC Speaks On Nestle Products in NigeriaNAFDAC said unlike Cerelac, Nido, the follow-up milk formula by Nestle, was not registered in Nigeria and is not in the country's market.
Read more »
Nigeria: African Leaders Meet in Nigeria to Discuss TerrorismA high-level Africa counterterrorism summit opened Monday in Nigeria with hundreds of delegates from around the world. Africa has become the world's epicenter of terrorism. Leaders at the summit hope to change that through regional cooperation and partnerships.
Read more »
Nigeria: Chess Marathon - Nigeria's Tunde Onakoya Shatters World RecordHe originally set out to do 58 hours, Onakoya persevered for a grueling 60 hours.
Read more »
Nigeria: Nestle Reacts to Allegation of Adding Sugar to Infant Formulas in NigeriaThe reaction is contained in a statement issued on Thursday and shared with PREMIUM TIMES by the company's Head of Corporate Communications, Victoria Uwadoka.
Read more »