Adamawa, Kebbi, Borno rank highest on Nigeria’s food inflation index

Adamawa, Kebbi and Borno states have been ranked highest on food inflation in a month-on-month in August 2024, while Sokoto, Gombe and Yobe states ranked highest on a year-on-year basis.

The National Bureau of Statistics (NBS) which made the revelation in its report on Monday stated that on a Month-on-Month basis in August 2024, food inflation was highest in Adamawa State with 5.46% record, followed by Kebbi state with 4.48% record, and Borno state with 3.88% record, while Ogun state with 0.08%, Akwa Ibom state with 0.45% and Sokoto state with 1.00% recorded the slowest rise in food inflation.

However, on a Year-on-Year basis, Sokoto state in August 2024 recorded highest food inflation rate with 46.98% record, followed by Gombe state with 43.25% record, and Yobe state with 43.21% record while Benue state with 32.33%, Rivers state with 33.01% and Bayelsa state with 33.36%, recorded the slowest rise in food inflation.

Meanwhile, the NBS stated that in August 2024, “all items inflation rate on a Year-on-Year basis was highest in Bauchi (46.46%), Kebbi (37.51%) and Jigawa (37.43%), while Benue (25.13%), Delta (26.86%) and Imo (28.05%) recorded the slowest rise in headline inflation on Year-on-Year basis.

“On a Month-on-Month basis, however, August 2024 recorded the highest increases in Kwara (4.45%), Bauchi (4.22%), Adamawa (3.99%), while Ogun (0.21%), Abuja (0.92%) and Kogi (1.14%) recorded the slowest rise on Month-on-Month inflation.”

The Bureau however noted that in analysing price movements within the period under review, “It should be noted that CPI (Consumers Price Index) is weighted by consumption expenditure patterns which differ across states and locations.

“Accordingly, the weight assigned to a particular food or non-food item may differ from state to state, making interstate comparisons of consumption basket inadvisable and potentially misleading.”

Food inflation in Nigeria:

Nigeria, Africa’s largest economy, is grappling with a pressing issue of food inflation, which has been on the rise for several months.

The current food inflation rate stands at 37.52%, significantly higher than the global average.

This surge in food prices has far-reaching consequences, affecting the most vulnerable populations, including low-income households and rural communities.

The increasing cost of food staples, such as rice, maize, and wheat, has reduced purchasing power, leading to reduced consumption and altered eating habits.

The root causes of food inflation in Nigeria are multifaceted.

Supply chain disruptions, conflicts in major food-producing regions, and climate change have contributed to crop failures and reduced yields.

Additionally, the country’s reliance on imports, coupled with a depreciating currency, has driven up the cost of food imports.

Furthermore, inadequate storage facilities and inefficient distribution networks exacerbate the problem, leading to food waste and artificial scarcity.

The impact of food inflation on Nigeria’s economy and citizens cannot be overstated.

Reduced food security, malnutrition, and increased poverty are some of the devastating consequences.

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