SB Morgen Intelligence, a geopolitical research firm, says long-standing issues such as conflicts in food-producing regions, climate change, and pest infestations continue to pose significant challenges to food security in West Africa.its latest report, titled, ‘Unbounded Set: Jollof Index Q2 2024’, analysed factors responsible for surging prices of food items.
“The month-on-month rate decreased from 5.75% in March to 0.52% in June. However, despite this monthly slowdown, the overall trend in food prices remains concerning and continues to severely impact household access to food.Advertisement “Other essential components such as rice, turkey, beef and vegetable oil maintained their already high prices, further contributing to the overall cost increase,” the SBM said.“The spike in tomato cost has been attributed to seasonal changes and a severe infestation of Tuta absoluta, a major tomato pest.
The intelligence firm said Nigerians were forced to experiment with alternative ingredients such as carrot and cucumber stews to replace the traditional tomato-based recipes. “Bauchi experienced a sharp rise, with the cost of preparing jollof rice increasing by 33.0%, from N16,970 to N22,570. Similarly, Dugbe Market in Ibadan saw a 30.2% rise, with prices increasing from N15,620 to N20,330.“On the other hand, Balogun Market in Lagos recorded the lowest percentage increase at 2.3%, with prices rising from N17,300 to N17,700.”