With Christmas just around the corner, food prices in Nigeria continue to surge due to a persistent rise in inflation. Based on November 2023 data from the National Bureau of Statistics (NBS), the current inflation rate stands at a staggering 28.20%.
This surge in prices is primarily linked to increased transportation costs for farmers and food traders who ferry food items from rural farms to urban centres across the country.
The rising transport expenses stem from the absence of fuel subsidies, resulting in the soaring cost of petrol, reaching as high as N660 per liter in certain states and even more in specific destinations where food items are transported.
Note that some vehicles used in transporting food items interstate run on diesel, however, the story remains the same because current diesel pump prices across the country cost between N970 to N1200 per liter.
Consequently, escalated transportation expenses inevitably get factored into the prices paid by consumers at local markets or supermarkets.
The prices of food items have undergone significant changes since the Tinubu administration removed the petrol subsidy back in May 2023.
As the festive season approaches, many families across the country are eager to prepare special meals. However, the prevailing high inflation rates will undeniably impact their budgets for these celebratory dishes.
According to an analysis conducted by Nairametrics, preparing a meal comprising fried rice, grilled chicken, and a side dish of vegetable salad for a middle-class family of four during the yuletide season will cost N21,800.
This overall cost varies depending on the quantity of ingredients the family chooses to use and where they purchase these items from. The total cost of preparing this meal can vary based on a few factors:
Buying in Bulk: Many Nigerian families purchase rice in larger quantities, which can affect the overall cost. They might not need to buy small portions for every meal.
Chicken Preference: Families might choose between live chicken, which can be slaughtered at the market, or frozen chicken, available either mixed with various parts or solely chicken breasts. Some families might even opt for beef instead of chicken in their fried rice.
Vegetable Salad Variations: Not all families may opt for a full vegetable salad. Some prefer simpler versions without additions like mashed potatoes.
These preferences can impact the overall expenses for the meal.
Here’s a typical breakdown of these expenses as of December 18, 2023:
- 2kg of Big Bull rice – N3000
- Carrots (for salad and fried rice) – N500
- Cow liver – N800
- Green beans – N500
- Frozen chicken (1 kilo, mixed) – N3200
- Frozen chicken (1 kilo, chicken breasts) – N4,100
- Live chicken – N5000
- Green peas – N500
- Spring onions – N500
- A can of sweet corn – N700
- A sachet of Kings vegetable oil – N1600
- Average-sized cabbage – N700
- Green pepper – N500
- Curry and thyme packs – N700
- Irish potatoes (for vegetable salad base)- N700
- Baked beans – N700
- Cucumber – N600
- Lettuce – N500
- Salad cream or Bama Mayonnaise – N3000
