Cost of making a pot of jollof rice rises 19% to N25,486

……Port Harcourt sees highest rise in six months due to inflation shocks

Nigerians are now spending more to prepare a pot of jollof rice than they did six months ago, with the cost rising to N25,486, largely due to the surge in protein prices, according to data from SBM Intelligence.

The SBM Jollof Index, which tracks the cost of preparing jollof rice, a staple dish in Nigeria, and serves as an indicator of food price fluctuations, shows that the average cost to prepare a pot of jollof rice for a family of five increased to N25,486 in March 2025. This marks a 19 percent increase from N21,300 in September 2024.

In some markets, the spike has been even more severe. Port Harcourt recorded a 55.1 percent increase, while Kano and Bauchi saw price surges of 53.8 percent and 34.9 percent, respectively.

“This inflation is being driven by a toxic mix of insecurity, high fuel prices, poor infrastructure, and climate shocks,” the report noted.

According to the National Bureau of Statistics, Nigeria’s inflation rate rose to 24.23 percent in March, marking the first uptick since the recent rebasing and defying analysts’ expectations of a slowdown.

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In contrast, food inflation slightly eased to 21.8 percent in March, down from 23.5 percent in February.

The authors of the SBM report stated that the index, which uses jollof rice as a proxy for food inflation, paints a grim picture: protein prices, especially turkey, have skyrocketed by over 500 percent since 2016.

“As of March 2025, turkey sells for between N8,000 and N10,500 per kilogram, compared to N1,500–N1,700 less than a decade ago. This has made nutritious meals unaffordable for many Nigerian families, especially in regions battered by conflict and environmental disasters,” the report added.

Several other factors have contributed to the price increases. The report noted rising costs for key ingredients such as pepper, onions, and rice, while other items have remained persistently high.

In regional terms, the report highlighted that Bauchi’s 35 percent hike in the Northeast was largely due to insecurity, displacement, and transportation challenges.

“A similar situation is unfolding in Kano, where farmers grapple with herder conflicts and flooding. Meanwhile, in Lagos’ Balogun Market, traders attributed price hikes to “greed and agbero (street lout) extortion,” with prices rising 9.2 percent,” it said.

Despite temporary price relief in a few places like Ibadan’s Bodija Market, where costs dipped 1.1 percent, the overall trend remains upward. The Southwest region showed a mixed trajectory, with markets like Dugbe and Bodija seeing brief corrections, while Lagos markets continue to trend upward.

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The report added that although the federal government introduced subsidised rice schemes and duty waivers on food imports, their impact has been limited.

“Traders and analysts argue that streamlined import logistics, not government policy, are responsible for brief reprieves. Meanwhile, accusations of price gouging by market leaders and supply chain cartels remain largely unaddressed,” SBM reported.

It added that the situation is especially dire in food-insecure zones like Northern Nigeria, where 31 percent of women aged 15-49 were reportedly malnourished in 2024. Across West and Central Africa, over 40 million people are already struggling with food access—a figure expected to reach 52.7 million by mid-2025.

With jollof rice now a luxury for many, the SBM report warns of a deepening food crisis. It urges immediate and long-term interventions, from scaling up food aid and market regulation to mechanising agriculture and resolving rural insecurity.

“Without structural reforms, food costs will continue to rise, aggravating poverty and stoking social unrest,” the report said.