By Chinwendu Obienyi
Nigerians are grappling with deepening food insecurity and declining purchasing power as the cost of cooking a pot of Jollof Rice has surged by 153 per cent over the last two years, latest Jollof Index released by SBM Intelligence revealed on Thursday.
The report, titled From Pot to Poverty, reveals that the national average cost of preparing a single pot of Jollof Rice, a staple in many Nigerian homes—has jumped from N10,864 in March 2023 to N27,527.85 by June 2025.
This spike underscores the far-reaching impact of inflation, currency depreciation, and persistent supply chain challenges on household consumption.
SBM Intelligence has consistently tracked the cost of Jollof Rice ingredients including rice, tomatoes, pepper, onions, oil, and seasoning for nearly a decade as a relatable metric for food affordability across Nigeria and Ghana.
The latest findings, however, highlight a sharp divergence between food inflation and the broader Consumer Price Index (CPI), signalling that rising food costs are now being driven by more entrenched structural issues.
According to the report, “Food inflation has decoupled from broader Consumer Price Index (CPI) trends, exposing entrenched supply-side challenges”.
The index reveals wide regional disparities. In Bauchi State, for instance, the cost of Jollof ingredients has increased by over 400 per cent due to bandit attacks, farmer displacement, and drought conditions. The Northeast region recorded some of the steepest inflationary pressures, further exacerbated by insecurity that disrupts agricultural activities and inter-state food movement.
Meanwhile, urban centres such as Lagos and Abuja saw significant increases in food prices tied to the removal of petrol subsidies in 2023, which pushed up transportation costs. In turn, traders have passed these costs on to consumers, further straining already stretched household budgets.
Drawing comparison with Ghana, the report stated that the cost of preparing Jollof Rice rose to GH₵420 during the same period. However, Ghana’s inflation trajectory appears to be moderating. As of June 2025, Ghana’s headline inflation fell to 16.3 per cent, aided by currency stability and consistent macroeconomic policy efforts.
“In Ghana, the Jollof Index closely tracks the national CPI, suggesting a more responsive and effective economic environment,” SBM noted. “Nigeria’s disconnect highlights deeper structural dysfunction.”
Nigerian families are adapting through bulk buying, reducing meal frequency, and substituting ingredients. For many low-income households, Jollof Rice, a once-affordable meal, is fast becoming a luxury.
Businesses in the food value chain are not spared. Food processors, retailers, and logistics providers face higher costs, lower consumer demand, and operational uncertainties. The report urged companies to explore regional sourcing, build resilient supply chains, and hedge against further currency shocks.
To address the crisis, SBM calls for urgent interventions: restore security in farming regions, fix transport infrastructure, and increase investment in local agriculture. It warns that without coordinated policy responses, Nigeria risks deeper food insecurity and social discontent.
“This report offers a granular analysis of food inflation’s drivers and impacts, providing actionable insights for stakeholders. Prioritising security, infrastructure, agricultural support, and resilient supply chains is paramount to safeguarding food security and ensuring sustainable economic stability across West Africa,” SBM said.
As the iconic pot of jollof rice becomes increasingly unaffordable for average Nigerians, it stands as a stark symbol of a weakening economy and a call to action for policymakers.
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