The average cost of a healthy diet in Nigeria rose to an all-time high at N1,265 in July 2024 according to data from the National Bureau of Statistics ((NBS).
The cost of a healthy diet (CoHD) in July was 1.9% higher when compared to the previous month of June which stood at N1,241.
According to the report, the average CoHD was highest in the South West at N1,581 per adult per day, compared to N956 per adult per day in North West.
Analysis according to states
Analyzing by states, Ekiti, Ogun and Osun states recorded the highest cost of health diet in the country at N1,632, N1,612, and N1,611 respectively. On the other hand, Katsina, Adamawa, and Sokoto had the lowest costs, with N884, N914, and N927, respectively.
At the zonal level, the Southwest Zone had the highest average Cost of a Healthy Diet (CoHD), at N1,581 per day, closely followed by the South-South Zone at N1,487 per day. The lowest average CoHD was observed in the Northwest Zone, where it stood at N956 per day.
Cost of food component in CoHD
In July, animal source foods emerged as the most expensive food group to meet, contributing 36% to the total Cost of a Healthy Diet (CoHD) while supplying just 13% of the total calories.
Fruits and vegetables were the priciest in terms of cost per calorie, accounting for 10% and 17% of the CoHD, yet only providing 7% and 5% of the total calories in the Healthy Diet Basket, respectively. On the other hand, legumes, nuts, and seeds were the most cost-effective, representing just 7% of the total cost.
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The report also raised concerns about the steadily increasing Cost of a Healthy Diet (CoHD) over the past few months. Since February 2024, the CoHD has seen a consistent rise, reaching a level in July 2024 that was 35% higher than in February 2024, when it stood at N934.
Additionally, the CoHD in July was 2% higher than the cost recorded in June 2024, which was N1,241. The primary contributors to this increase are the rising prices of vegetables, legumes, nuts and seeds, and starchy staples. Conversely, oils and fats experienced a 6% decrease in price on a monthly basis.
What this means
The 1.9% increase in the average cost of a healthy diet in July contrast with the slowing in overall inflation in July even though both are not comparable. Nigeria’s inflation in July slowed to 33.4% after 19months of consecutive increases.
It also denotes the increase in food prices despite slowing down in June. This exacerbates the malnutrition problem in the country especially for children where an estimated 11 million children are suffering from it according to an estimate by UNICEF.
– Nairametrics