The SBM Jollof Index: Crisis at the table

The food crises in West Africa, particularly in English-speaking countries, are reaching alarming levels. Nigeria, Ghana, Liberia, Sierra Leone, and the Gambia are grappling with a severe surge in inflation rates, especially in food prices. Some countries are witnessing staggering double-digit rates, ranging from 20% to over 50%.

Nigeria experienced one of its worst food crises from October 2023 to March 2024, with food inflation rising from 31.51% in October 2023 to 40.1% in March 2024. This increase was primarily driven by the depreciation of the Naira, which reached an all-time high of over ₦1,600 to a dollar in March 2024, affecting the prices of imported food. Other long-standing issues, such as conflicts in food-producing regions, reduced arable land, climate variability, increased energy costs, and restrictions on foreign exchange for specific food items, contribute to rising food prices.

Between October 2023 and March 2024, data tracked by the Jollof Index showed that the cost of making a pot of jollof rice increased by 29.3%, from ₦13,106 in October to ₦16,955 in March 2024. Apart from the effect of the Naira devaluation, the price of rice drove inflation during the period. A bag of rice increased from about ₦56,000 in October 2023 to approximately ₦87,000 in the first week of March 2024.

Both the government and businesses resorted to extreme measures during this period. Some companies, like Olam, temporarily suspended their large-scale grain purchases, government authorities in Kano seized ten warehouses over accusations of food hoarding, and some hoodlums took to looting warehouses. As prices maintain an upward trend, many Nigerians need help to keep up as the conversation shifts from the ability to access balanced diets and quality protein sources to the inability to afford food.

There’s a consistent trend of increased prices across all geopolitical zones. The national average cost of cooking a pot of jollof rice across the 13 markets surveyed surged by 29.3%, from ₦13,106 to ₦16,955. Onitsha, previously the most affordable market, experienced the highest percentage increase at 44.9%, while Nyanya market in Abuja recorded the lowest percentage increase at 15.5%.

In Ghana, the cost of preparing a pot of jollof rice increased by a staggering 43.0% within six months, raising concerns about the growing food affordability challenges and their impact on households’ access to nutritious meals.

The food crisis in West Africa is a pressing issue that demands immediate attention. The rising prices are not just causing malnutrition and crime, but also threatening the social fabric of the region. While interventions have been made to address immediate hardships, it is clear that strategic planning is the key to ensuring food is both affordable and available in the long run.

Download complete report (35 pages)