The National Bureau of Statistics recently released data revealing that Kogi State has emerged as the most expensive state to live in Nigeria, followed closely by Bauchi and Oyo states.
These rankings are based on year-on-year inflation rates.
According to the NBS data on Consumer Price Index released on Wednesday, in April 2024, the headline inflation rate increased to 33.69 per cent relative to the March 2024 head-line inflation rate which was 33.20 per cent.
Looking at the movement, the April 2024 headline inflation rate showed an increase of 0.49 per cent points when compared to the March 2024 headline inflation rate.
In April 2024, All Items inflation rate on a year-on-year basis was highest in Kogi (40.84 per cent), Bauchi (39.91 per cent), Oyo (38.37 per cent), Borno (26.09 per cent), Benue (27.53 per cent), and Taraba (28.69 per cent) recorded the slowest rise in Headline inflation on a Year-on-Year basis.
On a month-on-month basis, however, April 2024 recorded the highest increases in Lagos (4.52 per cent), Ondo (3.35 per cent), Edo (3.27 per cent), while Kano (0.30 per cent), Ebonyi (0.97 per cent) and Adamawa (1.25 per cent) recorded the slowest rise in month-on-month inflation.
In April 2024, Food inflation on a Year-on-Year basis was highest in Kogi (48.62 per cent), Kwara (46.73 per cent), Ondo (45.87 per cent), while Adamawa (33.61 per cent), Bauchi (33.85 per cent) and Nasarawa (34.03 per cent), recorded the slowest rise in food inflation on a Year-on-Year basis.
On a month-on-month basis, however, in April 2024, food inflation was highest in Lagos (4.74 per cent), Edo (4.06 per cent), and Yobe (3.99 per cent), while Kano (0.47 per cent), Adamawa (0.98 per cent), and Zamfara (1.50 per cent) recorded the slowest rise in Food inflation on a Month-on-Month basis.
In the first quarter of 2024, there were fluctuations in food inflation across different states in Nigeria.
Kogi and Kwara states were consistently the two states in the country to have maintained the lead in high food inflation.
Rivers State which had previously been among the top three states with high food inflation dropped in March, making way for Akwa Ibom State to join the list.
This is according to the Q1 data published by the National Bureau of Statistics in April.
Food security, as outlined by the 1996 World Food Summit, refers to the condition where everyone, without exception, has consistent physical and economic access to an adequate supply of safe and nutritious food that aligns with their dietary requirements and personal preferences. This ensures a healthy and active lifestyle for all individuals.
In January 2024, the highest year-on-year food inflation was in Kogi State, at 44.18 per cent, followed by Kwara State at 40.87 per cent and Rivers State at 40.08 per cent.
The slowest rise in YoY food inflation was in Bauchi State, at 28.83 per cent, Adamawa State at 29.80 per cent, and Kano State at 30.08 per cent.
The highest month-on-month food inflation was in Ondo at 4.69 per cent, Osun State at 4.59 per cent and Edo State at 4.58 per cent, while the slowest rise in MoM Food Inflation was in Bayelsa at 0.24 per cent, Yobe at 0.97 per cent, and Ogun at 1.44 per cent.
In February 2024, the highest YoY food inflation was in Kogi State at 46.32 per cent, followed by Rivers State at 44.34 per cent, and Kwara State at 43.05 per cent. The slowest rise in YoY Food Inflation was in Bauchi at 31.46 per cent, Plateau State at 32.56 per cent and Taraba State at 33.23 per cent.
Experts attributed the persistent rise in food inflation across states to climate change and insecurity.
Small-holder farmers, who primarily practise rain-fed agriculture, face challenges due to changing rainfall patterns, increased temperatures, and drought. Supply chain difficulties exacerbate the situation.
An agricultural economist at the Centre for Agricultural Development and Sustainable Environment Federal University of Agriculture, Abeokuta, Tobi Awolope, said the lack of food and insecurity had resulted in the high inflation rate in the country.
“The hike in food prices can be majorly attributed to the decrease in food availability owing to the effect of climate change on Agriculture. You will agree with me that the major players in the agri-food system are small-holder farmers who primarily practice rain-fed Agriculture.
“There has been a change in the pattern of rainfall, increased temperature, and increased drought among others. The difficulties regarding supply chain is another major issue,” she said.
The depreciation in our currency also negatively affects the prices of imported food commodities
An economist at Phemmy Gracey Global Ltd.,
Olorunfemi Idris said, “The war in Ukraine has raised food prices in Nigeria, as the country imports wheat from Russia and Ukraine, in addition to fertilizers from Russia. Thus, much of Nigeria’s inflation is caused by a combination of oil subsidies.”
He added that a critical step in addressing food inflation is a substantial allocation of funds for the development and maintenance of transportation infrastructure. Upgrading road networks and storage facilities, and implementing effective cold chains can significantly reduce post-harvest losses and enhance the overall efficiency of the food supply chain.
Punch
