Nigerians are now spending more to prepare a pot of jollof rice than they did six months ago, with the cost rising to N25,486, largely due to the surge in protein prices, according to data from SBM Intelligence.
The SBM Jollof Index, which tracks the cost of preparing jollof rice, a staple dish in Nigeria, and serves as an indicator of food price fluctuations, shows that the average cost to prepare a pot of jollof rice for a family of five increased to N25,486 in March 2025. This marks a 19 percent increase from N21,300 in September 2024.
In some markets, the spike has been even more severe. Port Harcourt recorded a 55.1 per cent increase, while Kano and Bauchi saw price surges of 53.8 per cent and 34.9 per cent.
respectively.
“This inflation is being driven by a toxic mix of insecurity, high fuel prices, poor infrastructure, and climate shocks,” the report noted.
According to the National Bureau of Statistics, Nigeria’s inflation rate rose to 24.23 percent in March, marking the first uptick since the recent rebasing and defying analysts’ expectations of a slowdown.
In contrast, food inflation slightly eased to 21.8 per cent in March, down from 23.5 per cent in February.
The authors of the SBM report stated that the index, which uses jollof rice as a proxy for food inflation, paints a grim picture: protein prices, especially turkey, have skyrocketed by over 500 per cent since 2016.
“As of March 2025, turkey sells for between N8,000 and N10,500 per kilogramme, compared to N1,500–N1,700 less than a decade ago. This has made nutritious meals unaffordable for many Nigerian families, especially in regions battered by conflict and environmental disasters,”the report added.
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