September 2, 2024/CSL Research
Recently data from the National Bureau of Statistics (NBS) indicates that the national average cost of a healthy diet increased by 1.9% in July 2024, rising to N1,265 per adult per day from N1,241 in June. The Cost of Healthy Diet (CoHD) report, which tracks the least expensive combination of locally available food items that meet globally consistent dietary guidelines, serves as a measure of physical and economic access to healthy diets.
This amount excludes transportation and meal preparation costs. Regionally, the average CoHD in July 2024 was highest in the South-West at N1,581 per adult per day, compared to N956 in the North-West. The disparity highlights the significant variation in food costs across Nigeria’s geo-political zones.
A broader suite of indicators, known as the Cost and Affordability of a Healthy Diet (CoAHD) framework is used globally. Nigeria is closely monitored by global organizations like the UN and World Bank within the framework of the CoAHD indicators. These organizations track the country’s progress in ensuring that its population has access to affordable, nutritious food.
While there have been slight improvements in agricultural production, Nigeria remains a country of concern within the global monitoring framework as the country still faces significant challenges in ensuring that majority of its citizens can afford a healthy diet.
Food supply in Nigeria has over the years been impacted by many factors such as climate change, global conflicts, the border closure, and more recently, impact of removal of the subsidy on petrol and the steep devaluation of the Naira. That said, insecurity remains the most serious of the sector’s problems.
Till date, farmers, even those in the southern region complain of attacks on their farms by herdsmen. Many farmers have been hacked to death on their farms while trying to stop the herdsmen from destroying their crops, making others afraid to go to their farms. This has significantly reduced food production. These challenges have driven food inflation to 39.53% as of July 2024, marking the first ease in 19 months, down from 40.87% in June.
Looking ahead, we believe the effective implementation of the Federal Government’s Accelerated Stabilization and Advancement Plan (ASAP) is critical to improve food production and supply. This plan aims to fast-track economic recovery and alleviate the deepening multidimensional poverty affecting many Nigerians. The implementation of ASAP involves multiple government agencies working together to address challenges in agriculture and other key sectors. This collaborative approach is designed to ensure that the objectives of the plan are met effectively and efficiently.
