What do you believe is the single most important factor driving up the cost of living in Nigeria?

As a result, people are forced to make difficult choices between buying food and other essentials like housing, healthcare, and education.

The impact on low-income households is particularly severe, as they have to allocate a larger portion of their budget to food, leaving limited resources for other necessities, leading to reduced food consumption, compromised nutrition, and poor health outcomes. The financial strain is also causing increased stress and anxiety for many families.

The United Nations recently predicted that 82 million Nigerians, about 64 per cent of the country’s population, may go hungry by 2030, calling on the government to tackle climate change, pest infestations, and other threats to agricultural productivity.

The prediction comes in the wake of a persistent hike in food prices in the country.

According to the National Bureau of Statistics, Nigeria’s food inflation rate hit a record high of 40.66 per cent in May 2024, surpassing the previous month’s 40.53 per cent.

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