Food prices in Nigeria have reached record highs, stretching household budgets and forcing millions to adapt to a new reality.
With inflation hitting staple foods like rice, garri, and beans, families are rethinking their spending habits, dietary choices, and even sources of income.
At Mararaba, a bustling suburb of Abuja, meat sellers have been hit hard by the rising cost of livestock.
Speaking with Nairametrics, Amaechi, a meat trader, lamented the decline in sales. “People have been buying less goat meat, and this has been the trend even before last Christmas,” he said.
A visit to the popular Orange Market along Abuja-Keffi Road painted a similar picture. Traders and customers alike expressed concerns about the affordability of staple foods. Many shoppers said they now buy in smaller quantities, opting for cheaper protein alternatives like fish and eggs instead of beef and goat meat.
At the Abattoir, where livestock is slaughtered for sale, meat sellers are struggling to move products at the usual pace. Audu, a butcher, told Nairametrics that he used to slaughter up to 20 goats daily, but now he struggles to sell even 10.
“A goat lap that used to cost N4,500 now sells for about N9,000. Customers are complaining, and our sales have dropped significantly. You should help us beg Tinubu to help us,” he explained.
According to the latest report released by the National Bureau of Statistics (NBS) titled ‘Selected Food Price Watch December 2024’ on January 24, 2025, average prices of food across Nigeria have increased from N2,862.14 in November 2024 to N2,920.13 in December 2024.
This marks a year-on-year surge of 91.6%, as the average food price in December 2023 was N1,524.63.
The NBS surveyed the prices of about 40 food items including beans, beef, bread, catfish (obokun), dried fish, frozen chicken, garri, groundnut oil, Irish potato, rice, and others.
Restaurants and food vendors feel the pinch
It’s not just households feeling the strain—restaurant owners and food vendors are also adjusting to the new economic reality.
At Anambra Kitchen in Ado, the owner expressed frustration over declining patronage. “Many of my regular customers have stopped coming. I’ve had to reduce portion sizes just to keep the business afloat,” she said.
To survive, some food vendors are diversifying their income streams. The owner of Anambra Kitchen revealed that many of her colleagues have ventured into side businesses such as operating POS services to supplement their earnings. “E no easy my brother,” she added, a sentiment echoed by many struggling entrepreneurs in the food industry.
Speaking to one of her customers, John, who confirmed the development said, “Many of us have now resorted to 0-1-0 or 1-0-0” meaning eating just one meal a day whether breakfast, lunch or dinner. “You must be a government official to eat twice or three times these days,” he said.
Experts speak on implications of food inflation
- Dr. Paul Garau, an economist at Nasarawa State University, Keffi, spoke to Nairametrics about the broader consequences of food inflation. According to him, the rising cost of food extends beyond household affordability.
“The rising cost of food is not just about affordability; it has severe macroeconomic consequences. When food inflation persists, it leads to reduced purchasing power, lower consumption levels, and even social unrest,” Dr. Garau explained.
- He further emphasized that food inflation can have a ripple effect across various sectors, affecting employment, production, and overall economic growth.
“When people can’t afford to buy basic food items, it reduces aggregate demand, slows down business activities, and increases poverty levels,” he added.
Puol Danladi, the executive director of the Initiative for Development and Peacebuilding, told Nairametrics, “Food security is not just about availability but also accessibility and affordability. If people cannot afford nutritious meals, it has long-term effects on health, productivity, and national stability. Government interventions must address both production and distribution challenges to curb this crisis.”
How Nigerians are adapting
In response to the crisis, many Nigerians are making strategic lifestyle changes. Some families now buy food in bulk at wholesale markets to get better deals, while others are switching to locally sourced, more affordable alternatives.
At Jabi Park, Utako, Mrs Chinwe Agu told Nairametrics “Since goat meat became so expensive, we’ve had to reduce meat consumption. Even eggs have gone up. My children made do with ‘awara’ and mushrooms as sources of protein. They don’t like it, but they don’t have a choice.”
- Households are also cutting back on eating out, opting for home-cooked meals instead. Many consumers are adopting meal planning techniques to minimize waste and ensure they get the most value for their money.
- Additionally, informal community savings and cooperative groups have gained popularity as people seek financial support from friends and neighbors. These savings schemes help individuals pool resources together, making it easier to purchase food in bulk and sustain their families during these tough economic times.
Sarah Anjum, a resident of Gwarimpa, told Nairametrics that she had to join thrift and loan co-operative where she saved N100 per day to be able to meet her family’s food needs in December last year. Even at that, she said, “I raised over N500,000 out of which I bought rice and goat meat and my children had more than enough rounds of meat to eat during Christmas.”
FG’s attempt to curb food inflation
In July 2024, the Federal Government unveiled plans to implement a 150-day zero-duty levy on select food imports to combat rising food prices and ease the burden of inflation on Nigerians.
- The targeted commodities included maize, husked brown rice, wheat, and cowpeas.
- However, the initiative faced significant challenges due to bureaucratic bottlenecks that hindered its swift execution.
- Additionally, in February 2025, the Federal Government initiated efforts to reposition the Bank of Agriculture (BoA), a key institution in Nigeria’s agricultural sector, as part of a broader strategy to revitalize agriculture and drive socio-economic development.
Speaking on the economic outlook, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, emphasized the importance of complementing monetary policies with fiscal and real-sector strategies to boost production, support economic growth, and mitigate inflationary pressures.
