The cost of preparing Nigeria’s Jollof rice increased by 220.7 per cent to N13,106 in September 2023 from N4,087 in July 2016.
A new Jollof Rice Index report by SBM Intelligence disclosed this recently.
According to the report, the rise in the cost of preparing Jollof rice is not unconnected to Nigeria’s soaring food inflation rate, which increased to 31.52 per cent in October.
The implication is that an average Nigerian household with N30,000 minimum wage would have to spend 43 per cent to prepare a single dish of Jollof Rice.
The report, which conducted surveys in 13 markets across the six geopolitical zones in Nigeria, disclosed that Wuse II in Abuja is the most expensive place to make jollof rice, which stood at N15,900, while the cheapest markets are in Onitsha, Anambra at N10,280.
“This is a new high. The situation tells the sad story of Nigeria’s inflation rate. All of the constituent ingredients of Jollof Rice Index are at multi-year high as families continue to cut cost or manage the pressure by either reducing the quantity of rice or food generally or deploying substitutes”, Ikemisit Effiong, Partner of SBM Intelligence said in an interview with Channels Television on Wednesday.
DAILY POST reported that rice prices are expected to increase by 32 per cent.
