African countries make up more than half of the world's hunger hotspot in 2023
With about 24.8m people in Nigeria facing acute food insecurity, the country is first on the World Food Programme's list of hunger hotspots in 2023. 11 of the 20 countries on the list are African.
Food prices have continued to increase as Nigeria's headline inflation hit 34.19% in June 2024, one of the highest globally.
NBS's monthly survey for the average prices of selected food items in Nigeria as of June 2024 shows that tomatoes have gone up by 321%, yam by 296%, and staples — beans, rice, and plantain — have also seen significant increases. These are the top ten food items most hit by inflation in Nigeria in the past twelve months.
Data from the National Bureau of Statistics reveal that the average bread prices in Nigeria increased by 20.71% for unsliced bread and 17.25% for sliced bread year on year. As Nigerians mourn this rise in cost, we consider the average bread prices over the past 24 months.
While many living in Nigeria have already experienced the effects of the fuel subsidy removal on their daily expenses, this chart presents a clearer picture of reality. Will the prices of food items continue to rise? Is there hope of some respite soon?
