A report from SBM has it that the cost of preparing Nigeria's Jollof Rice has increased by 220.7%, in Naira equivalent today it is N13,106 in September 2023 compared to N4,087 in July 2016.
As was reported, the rise in the cost of preparing Jollof Rice is connected to Nigeria's soaring food inflation rate which is at the highest increase at the moment at 31.52 percent in October.
What this means for the common man and Middle-class Nigerian is that with the Minimum wage of 30,000, you will have to spend 43% of your salary to prepare a single dish of Jollof Rice.
The surveys were carried out in 13 markets across the six geopolitical zones in Nigeria showing that Wuse II in Abuja is the most expensive with N15,900, while the cheapest markets are in Onitsha, Anambra at the cost of N10,280.
The costs show the sad story of Nigeria's Inflation rate. All the ingredients of the Jollof Rice Index tell the sad story of Nigeria’s inflation rate.
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