Sopuruchi Onwuka

The inflationary trends in the domestic economy have drilled down to direct impact on low income families in the country, figures from the National Bureau of Statistics (NBS) have clearly indicated.

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The NBS indicated that inflation impacts on the economy may exacerbate existing hunger levels in the country, as rising costs amidst falling incomes and lowering value of the Naira all combine to put strain demand levels in the informal market where low patronage for stable goods continue to worsen.

According to an independent survey, all food items in the domestic market, including fresh farm produce, have also seen sharp increase in prices. From garri, potato, yam, egg, meat to milk products; average prices have jumped by significant 700 percent since early 2024.

Analysis by local Dataphyte stated that price of an egg surged by 152 percent from ₦116 in January 2024 to ₦252 in December. It noted that the breakdown shows that food groups vital to a healthy diet, such as vegetables, starchy staples, legumes, nuts, and seeds, are now among the most expensive.

Independent survey on the market also showed that prices of imported food items including sardines, apples, grapes and sundry canned food products continue to rise astronomically from the average of N250 per unit to nearly N1,500 per unit.

Prices of sardines, for instance, have since jumped from an average of N250 per 125 gram can to a new range between N1,200 and N3000 per 125 gram can.

Prices of other staples have also jumped between 2024 and now, with items like beans posting a 187 percent price increase; and  rice jumping by  151 percent increase.

According to Dataphyte, the high prices have also delivered ripple effect on demand, affecting the market incentive for producers as consumption rapidly declines.

“This price shock has forced many families to cut back on egg consumption, contributing to a decline in demand” Dataphyte stated, noting that poultry farmers across the country have reported accumulating unsold stock, with a March 2025 report highlighting the growing concerns within the sector.

“The trend reflects a broader economic strain in the country, where inflation is outpacing incomes,” the outfit reported.

The jumps in prices, analysts point out, have started translating to deeper poverty levels in the country, with many households unable to afford adequate meals.

“With incomes stagnating and inflation accelerating, many families are forced to make difficult trade-offs, sacrificing nutrition for affordability,” per Dataphyte.

The 2024 Global Food Report cited by Dataphyte identifies poor transportation, weak storage infrastructure, and inefficient logistics systems as key drivers of inflated food prices, especially for perishable and nutrient-rich foods such as vegetables, fruits, and animal-source products.

State of Food Security and Nutrition in the World Report, published by the Food and Agriculture Organisation (FAO) of the United Nations estimates that 172 million Nigerians were unable to afford a healthy diet as of 2022, a figure that has likely increased under the continued economic pressures and rising food prices in 2023 and 2024.

“The current trend signals a deeper systemic crisis in food access across Nigeria. Driven by persistent inflation and stagnant incomes, the affordability gap for nutritious food continues to widen.

“Without targeted policy intervention to address food inflation, strengthen local supply chains, and improve household purchasing power, millions more Nigerians risk being permanently priced out of healthy eating,” a report by Dataphyte concluded.