The average cost of cooking a pot of Jollof Rice went up from N8,595 to N9,311 at the end of Q2 2022, an 8.3% increase.
This was disclosed in the quarterly SBM Jollof index report for Q2 2022, published by SBM Intelligence.
The report warned that Nigerians are running out of coping strategies and are in danger of starving if measures are not taken to buffer the effect of the rise in global rice prices.
Key highlights of the report
The average cost of making a pot of jollof rice went up from N8595 to N9311 at the end of Q2 2022, an 8.3% increase.
- “Bauchi had the highest cost at N11,600, followed by Wuse II at N11,300. The noticeable pattern here is that the Northern states had a higher cost of making a pot of jollof rice despite their farming and livestock rearing occupations.
- “This trend is accounted for by increased insecurity in those states. Traders who purchase from the rural markets are boycotting those areas. Transportation costs have greatly increased, not only because of fuel shortages but also because of the risk involved in travelling those kidnap-infested roads.
- The report showed that Nigerians employ different coping strategies depending on the household’s previous economic status, as the gap between the poor and the rich widens.
- “One of the buyers interviewed in the market spoke of how she complements her cooking with different ﬂavours to cover the absence of protein sources like meat and chicken. Protein sources have maintained a high for a while, and this has forced many Nigerians to reduce their dietary requirements. Another customer, a 45-year-old spare part trader said he cooks most of his meals with the electric stove at night so as to save gas.
- “The broader issue with the impending food crisis is its effect on the upcoming elections, as politicians will distribute food items to buy votes. During our interviews, one of the respondents said in a response to a question about collecting election food packages and voting for politicians. “Half bag of rice? N17,500? E don buy my vote.”
- The report also cited that Interviews were conducted in 10 states across the country (Abuja, Anambra, Bayelsa, Delta, Edo, Imo, Kogi, Lagos, Rivers and Sokoto, as Respondents in Sokoto conﬁrmed that children are beginning to show signs of malnutrition in the region.
- Judging from this respondent’s statement they said more Nigerians are falling under the poverty line. A respondent in Kogi, a petty trader, said that her husband, who is a university lecturer, has not been paid his salary for months because of the ongoing ASUU strike, hence the family is struggling to feed.
What you should know
- Nairametrics reported earlier this year that The cost of making a pot of Jollof rice for a family of ﬁve went up from N8007.50 in Q3 2021 to N8,595 at the end of Q1 2022, a 7.3% increase.
- The report also added that insecurity has also plagued the country to disturbing degrees, citing that this has affected food distribution as some food supply routes are considered unsafe.
- Nigeria’s Food inflation, also rose to 20.6% in June 2022 from 19.5% recorded in May 2022.