The cost of preparing a pot of jollof rice in Nigeria has surged by 153% over the last two years, according to the latest Jollof Index by SBM Intelligence, highlighting the growing impact of food inflation on households.
The index shows that the average national cost of cooking a pot of jollof rice rose from ₦10,864 in March 2023 to ₦27,527.85 in June 2025. The sharp increase reflects the combined effects of inflation, currency depreciation, and persistent supply chain disruptions.
SBM, which has tracked the price of jollof ingredients for nearly a decade, said food inflation in Nigeria has now "decoupled" from the broader Consumer Price Index (CPI), driven by structural challenges such as insecurity and weak transport infrastructure.
In Bauchi State, the cost of jollof rice rose by over 400%, largely due to farmer displacement, drought, and bandit attacks. In cities like Lagos and Abuja, food prices have soared following the removal of petrol subsidies in 2023, which raised transport costs and impacted retail prices.
Read also
"Food inflation has detached from headline CPI, pointing to deeper structural problems," the report said.
While Ghana also saw a rise in the cost of jollof rice—up to GH₵420—its inflation trajectory appears more stable, supported by stronger macroeconomic policies and currency stability. SBM noted that Ghana's food inflation trends closely mirror its CPI, unlike Nigeria's widening gap.
For many low-income Nigerian families, jollof rice—once a budget-friendly meal—has become a luxury. Some households now buy in bulk, reduce meal frequency, or swap out key ingredients to cope.
The report also noted that businesses in the food value chain—processors, traders, and logistics operators—are facing higher costs and shrinking consumer demand. SBM urged them to build more resilient supply chains and consider regional sourcing.
To avoid deeper food insecurity, SBM recommends urgent policy responses including restoring security in farming areas, improving rural infrastructure, and boosting investment in local agriculture.
"The rising cost of jollof rice is no longer just a kitchen concern—it's a reflection of economic distress that demands coordinated policy action," the report warned.
No comments:
Post a Comment