October 21, 2024/CSL Research
Recent data from the National Bureau of Statistics (NBS) indicates that the national average cost of a healthy diet marginally declined by 0.8% in August 2024, dropping to N1,255 per adult per day from N1,265 in July. 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 August 2024 was highest in the South-West at N1,554 per adult per day, compared to N1,014 in the North-West, highlighting significant geo-political disparities in food costs.
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 been affected by numerous challenges over the years, including climate change, global conflicts, border closures, and more recently, the removal of the petrol subsidy and the sharp devaluation of the Naira. However, insecurity remains the most critical issue facing the agricultural sector. Farmers, even in the southern region, continue to report attacks by herdsmen, who frequently invade farms, destroying crops. Many farmers have lost their lives while attempting to protect their land, which has left others too fearful to work on their farms. This insecurity has significantly reduced food production, contributing to the sharp rise in food inflation, which reached 37.77% in September 2024 compared with 13.51% in
September 2019.
Looking ahead, the Federal Government’s Accelerated Stabilization and Advancement Plan (ASAP), which is crucial for improving food production and supply, is facing unexpected delays. Despite initial expectations for smooth implementation, particularly regarding the import waiver on food imports, the plan has stalled. The Nigeria Customs Service has yet to receive official clearance for the waiver, causing a slowdown in the plan’s execution. This, along with recent flooding incidents, suggests that a swift reduction in food prices may not occur as initially
expected.
