24.7 C
Lagos
Sunday, October 11, 2026

63% of Nigerian Families Go Hungry as Food Prices Soar

Must read

Bala Augie
Bala Augiehttps://moneycentral.com.ng
Bala is the Editor of MoneyCentral Media. Bala is a Fellow (FCA) of the Institute of Chartered Accountants in Nigeria (ICAN) and holds a Bsc in Accounting from the University of Abuja. Bala has over 12 years’ experience in the financial journalism landscape with specialization in the Insurance, markets and Finance sectors.
spot_imgspot_img
- Advertisement -

The number of Nigerian households that reported not having enough food to eat because of lack of money doubled to 62.4% in 2023 from 37% in 2019, according to the report, published Thursday on the website of the National Bureau of Statistics.

Almost two out of three Nigerian households are going hungry, with families skipping meals as they cannot afford enough food, according to a report by the country’s statistics agency.

“Furthermore, 12.3% reported that at least one person in the household went without eating for a whole day,” the report said, underlining the impact of food inflation that peaked at a near-three-decade high 41% in June. About 21% of households rely on help from friends or relatives, it said.

Already, poor nutrition is leading to physical effects such as stunted growth, with a quarter of boys and girls regarded as underweight for their age, up from 19% four years ago.

Food prices are being stoked by reforms introduced by President Bola Tinubu, with the annual inflation rate rising to 33.9% in October. Since coming into office in May 2023, Tinubu has removed currency restrictions, resulting in a 72% depreciation of the naira. He has also eliminated subsidies on fuel and electricity, leading to prices more than doubling.

While the reforms have been hailed by international investors as well as the World Bank and International Monetary Fund, it triggered demonstrations in August as Nigerians poured onto the streets to protest against rising food prices.

The average cost of a healthy diet has risen 30% in the five months through September, the statistics agency said in a separate report published this week.



Get More of our proprietary news and analysis as MoneyCentral is now on WhatsApp Channels 🚀 Follow the MoneyCentral Nigeria channel on WhatsApp: Click here!

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

spot_img

Latest article