Challenge: Nigerians to Spend a Minimum of ₦982 on a Healthy Meal, According to NBS

A recent report from the National Bureau of Statistics (NBS) has pointed out a notable increase in the price of a nutritious diet throughout Nigeria.

“The National average Cost of a Healthy Diet was N982 in March 2024. This is 4.7% higher than the amount recorded in February 2024, which was N938,” the report reads.

The report, published on the statistics bureau’s official website, highlights the financial difficulties caused by dietary expenses within the context of wider economic limitations. This includes the elimination of fuel subsidies and the exchange rate unification during President Bola Tinubu’s administration.

The financial pressure is significant, especially since it aligns with the government’s raise of the national minimum wage to ₦70,000, revealed during the Workers’ Day festivities. However, labor unions remain unhappy, contending that the wage hike does not tackle the harsh economic challenges Nigerians encounter regularly.

The NBS report is vital for determining the cost-of-living adjustments needed to sustain a basic standard of health. It also acts as a gauge for the economic policy measures needed to reduce the difficulties faced by numerous Nigerians.

The continuous increase in the price of a nutritious diet highlights the importance of implementing effective strategies to stabilize and possibly lower food prices, all while ensuring that wage adjustments align with the real cost of living adjustments.