A recent report by the National Bureau of Statistics showed that the cost of a healthy meal in Nigeria on average decreased to N1,255 ($0.75) in August 2024, a 0.8% decline when compared to the July cost of N1,265 ($0.76).
This still constitutes a financial burden for the average household given how much the amount is, relative to the country’s current minimum wage of N70,000 ($41.89), especially considering that the cost has risen faster than general inflation and food inflation in recent months.
According to the Bureau of Statistics, the Cost of a Healthy Diet (CoHD) is the least priced combination of locally accessible commodities that adheres to worldwide food-based dietary recommendations.
The report revealed that animal source foods were the most costly food category in August, accounting for 37% of total CoHD and providing 13% of total calories.
“Animal Source foods were the most expensive food group recommendation to meet in August, accounting for 37% of the total CoHD to provide 13% of the total calories,” the report reads.
“Fruits and vegetables were the most expensive food groups in terms of price per calorie; they accounted for 11% and 14%, respectively, of total CoHD while providing only 7% and 5% of total calories in the Healthy Diet Basket. Legumes, Nuts and Seeds were the least-expensive food group on average, at 7% of the total cost,” it adds.
Since March 2024, the Cost of Healthy Diet (CoHD) has been increasing steadily. The CoHD was 28% greater in August 2024 than it was in March 2024 (N982).
The main factors leading to this rise in CoHD include vegetables, starchy staples, nuts and seeds, and legumes.
Month over month, it fell by 0.8% from the price in July 2024 (N1,265). The price of vegetables plunged by 14.5% per month.
