Rising food prices in Nigeria are driving households into deeper financial distress, as more families are forced to borrow money or cut back on meals to cope with the escalating cost of living. According to a recent report by the National Bureau of Statistics (NBS), the increasing inflation in food prices has exacerbated poverty levels, pushing many Nigerians to adopt drastic measures to survive.

Seventy-one per cent of households have reportedly been affected by price increases on major food items, with food shortages impacting more than a third of households in the past year.

The National Bureau of Statistics (NBS) reported on Friday that 65 percent of families and residents cannot afford healthy meals due to financial constraints.

These shortages, it noted, were most pronounced in June, July, and August, exacerbating the food insecurity crisis.

The report indicates that food scarcity, insecurity, and high prices have compelled Nigerian households to reduce their consumption. It also mentions the General Household Survey Panel (Wave 5), conducted in partnership with the World Bank.

The data further said 48.8 per cent of households reported reducing their food consumption as a coping mechanism.

It further said that 12.3 per cent reported that at least one person in the household went without eating for a whole day, and 20.8 per cent of households had to borrow food or rely on help from friends or relatives.

The report added that residents in the South-South zone had the highest (most concerning) rate in five out of eight indicators of food insecurity.

“In the past 12 months, more than one-third of households faced food shortages, which occurred more frequently in June, July, and August.

“Price increases on major food items were the most prevalent shock reported by households, affecting 71.0 per cent of surveyed households.”

The report said the number of households worried about not having enough food to eat increased from 36.9 per cent in Wave 4 (conducted in 2019) to 62.4 per cent in Wave 5.

It stressed that the surge was due to an increase in food insecurity, with more than half of Nigerian families struggling to meet their dietary needs.

“Approximately two out of three households (65.8 percent) reported being unable to eat healthy, nutritious or preferred foods because of lack of money in the last 30 days.

“63.8 percent of households ate only a few kinds of food due to lack of money, 62.4 percent were worried about not having enough food to eat, and 60.5 percent ate less than they thought they should. 

“In general, households in the southern zones report more incidents related to food security than those in northern zones.

“For example, in the southern zones, the proportion of households reporting that they had to skip a meal ranged from 50.1 percent in South West to 62.4 percent in South East, while in the northern zones this share varied from 34.0 percent in North Central to 48.3 percent in North East.

“In contrast, the data bureau said north-central had the lowest rate in six of the eight indicators,” the report added.

The report sheds light on the severe implications of food inflation on household welfare and underscores the growing need for economic intervention to address the country’s mounting challenges.