New research reveals it costs ₦10,882 to cook a pot of Jollof rice for a Nigerian family in 2023

According to the International Rescue Committee, more than 34 million people in West Africa may experience starvation by the middle of this year due to conflict, climate change, and government policy.

SBM Intel created the Jollof Index, a tool that measures the cost of producing a pot of jollof rice for a typical household of five, to better show the impact of these issues on Nigerians.

The index monitors the prices of essential food items like rice, curry, thyme, seasoning, groundnut oil, poultry, beef, pepper, tomatoes, salt, and onions. It provides valuable information on Nigeria's food inflation patterns.

The index collects data on a monthly basis from 13 markets located across Nigeria's six geopolitical zones, with the exception of December. During the holiday season, prices tend to rise, making December an outlier in terms of the data collected.

According to the research, the cost of making a pot of Jollof rice in Nigeria has increased to ₦10,882. Wuse II market in Abuja was consistently the most expensive for preparing a pot of Jollof rice, with a cost of ₦13,700, while the Trade Fair in Lagos was the cheapest, with a cost of ₦8,850. Notably, the states with the highest percentage increases are all located in the South-South region of Nigeria

The report states that, "Over seven months, from September 2022 to March 2023, the cost of preparing a pot of Jollof rice has risen from ₦9,917 to ₦10,882, marking an increase of 9.73%"

This year, the index has expanded to include two cities in Ghana's second-largest economy, Accra and Kumasi, as part of a bigger regional edition. 

Nigerian Jollof can be considered slightly pricier when comparing its cost to Ghanaian Jollof between January and March.

However, a Chicken Republic country-by-country price list, taking into account the official Nigerian currency rate, reveals that Ghanaian Jollof holds a higher price tag.

SBM Intel strongly recommends that governments and relevant stakeholders prioritize the enhancement of agricultural productivity, the resolution of supply chain inefficiencies, and the adoption of inflation-control measures to effectively tackle these challenges.