IN THE ANALYSIS

The SBM Jollof Index – Fishing for good prices

Since 2016, SBM Intelligence has curated the Jollof Index by collecting food prices monthly in a growing number of markets across the six geopolitical zones in Nigeria. This number now stands at 13. The closest approximator of inflation for the Nigerian is food inflation, because, according to a 2019 survey carried out by SBM Intelligence. Nigerians spend more than 60% of their income on food on the average. Historically, food inflation has tracked at least 200 basis points above core inflation. A key point to note is the trend since 2016 when this index was tracked. 2016 also represents the last time Nigeria had a single digit inflation rate, before the oil prices collapsed which combined with ham-fisted policy responses, caused a recession. The effects of this recession continues to reverberate in the economics of the country. The Average National Jollof Index has increased by 78% in the 4-year period from July 2016 to June 2020. Five respondents were highlighted in this report. In Baruwa in Lagos, the mother of a family of seven said that she typically spends ₦5,500 making a pot of jollof rice, up from ₦4,000. She, however, complained that even with this amount, the food does ...
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ANALYSIS

Constitutional implications of the coronavirus pandemic in Nigeria

If there were any lingering doubts in the minds of ...
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The week ahead – Chasing a pandemic

The FG has announced significant changes to its 2020 budget ...
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The week ahead – Crude reality

The Doyin Salami-led Economic Advisory Council appointed by President Muhammadu ...
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Covid-19 and a price war make the perfect storm

Share prices across the world sank on Monday as panicked ...
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The week ahead – Backed into a corner

Nigerian authorities have been in touch with around 100 people ...
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Video: Coronavirus and Nigeria’s oil security

The coronavirus, COVID-19, is spreading around the world and is ...
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The week ahead – No silver bullets

The first case of coronavirus was confirmed in Nigeria on ...
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Coronavirus: It’s potential effect on Nigeria’s economy

On the last day of 2019, the World Health Organisation’s ...
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The week ahead – Significant kerfuffles

Nigeria’s national security adviser, Babagana Monguno, has issued a warning ...
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The week ahead – Far from a happy Valentine’s

A lack of confidence in the ability of the political ...
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What the emerging Great Power politics means for Africa

In 1983, US President, Ronald Reagan ordered an invasion of ...
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The week ahead – Gamophobia

The Federal Government has sued about 70,000 Kebbi state farmers ...
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Rising insecurity in Abuja

On the evening of 2 February 2020, a fully loaded ...
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The week ahead – Mo fe bole

The Nigeria Centre for Disease Control (NCDC) announced on Saturday ...
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The week ahead – Peter needs a lifeline

Data from the National Bureau of Statistics showed that Nigeria’s ...
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The week ahead – Structural integrity

About 90 percent of bandits behind renewed armed attacks on ...
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The week ahead – Out of sight

At least 30 people were killed in Borno state after ...
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How could the Soleimani killing impact Nigeria?

On 3 January 2020, an American drone, in a targeted ...
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The Year Ahead – It’s the economy, stupid

The year 2019 was an interesting one for Nigeria, which ...
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My Nigeria – Women will no longer be suppressed

by Fakhrriyya Hashim The 2019 elections marked the most crucial ...
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The week ahead – A tale of two Decembers

Nigeria’s inflation rate rose to 11.85 percent in November 2019, ...
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Scorecard – assessing our 2019 predictions

2019, like any other, has been an eventful year in ...
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What does Boris Johnson’s Britain mean for Nigeria?

Anti-immigrant sentiment is seldom fully rational, and one cannot understand ...
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The week ahead – Powering down

State Security Service officials forcefully rearrested journalist, activist and former ...
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