Nigeria ranked 2nd poorest in food affordability

A new report by the Institute of Development Studies, a UK-based think tank, has placed Nigeria as the second poorest country in the world in terms of food affordability.

The report, which was compiled through a publicly available global cost-of-living database, Numbeo, was used in creating a ‘cost of food basics’ analysis that compares the monthly minimum recommended spend on food per adult and monthly average wage in 107 countries across the world.

The Cost of Food Basics found that, more than one year since the outbreak of COVID-19, there is vast disparity between countries in terms of the proportion of average wages needed to afford enough food.

The top 10 countries where basic food is least affordable in are Syria, Nigeria, Ethiopia, Philippines, Sri Lanka, Ghana, Indonesia, Algeria, Iran and Uzbekistan.

The minimum recommended amount of food is based on 12-14 basic items, which together would account for 2,100 calories per adult per day, which is the level recommended by the World Health Organisation, (WHO), for energy needs.

Basic food is least affordable in Syria, where the minimum recommended monthly spend would account for 177% of average wage income per adult, followed by Nigeria where 101% of the average wage is spent on food.

According to a survey carried out last month in markets across Lagos, Ogun and the Federal Capital Territory, (FCT), showed that the cost of basic food items such as beans, tomatoes and rice had recorded worrying hikes of 253%, 123% and 51% respectively within a year period.

A report last year by data firm Statista, pegged the average living wage in Nigeria at N43,200 which is 30.60 per cent higher than the minimum wage set at N30,000; a figure which several states are yet to meet up with.

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