A new report by SBM Intelligence has revealed interesting indices on the variation in the costs of preparing jollof rice in Nigeria.
The research, which covered the period from June 2016 to as recent as the 8th of March 2017, shows that the cost of preparing the popular menu, which has become a staple in many homes, was significantly affected by the general rise in costs of individual perishables and edible consumables.
From the report, we gather that while items like tomatoes cost more in Kano, partly due to an epidemic that occurred there, things like pepper and yam reduced in price from the fourth quarter of 2016 to the first quarter of this year in Ibadan.
For meat, Abuja was reported as the most expensive place to acquire goat meat over the period. While prices in Lagos largely remained the same across popular markets, Anambra state saw the highest increase in the cost of beef last year, by as much as 100%; it only recently returned to its normal price.
For the Jollof index proper, SBM’s computation since the second half of 2016 “showed a quarter by quarter increase in the average national index– from ₦4,087 in July 2016 to ₦5,388 in February 2017.”
On comparing the states, Lagos State was reported as the cheapest place to prepare jollof rice at a cost of N4950, while same would cost N6,640 in Kano, making it the most expensive state for jollof cooks. Despite the swing in the price of meat last year, the Anambra cities of Awka and Onitsha reportedly compare favourably with the Lagos jollof prices, costing merely N10 more on average.
It would be too simplistic to gauge the cost of living in Nigeria cities on the SBM Intelligence new jollof index, it could be a handy indicator of the progress of prosperity. A report by the Economist states that Rice has generally become more popular in Africa, even as its popularity decreases in Asia. As it would seem, an increase in rice consumption is something of an indicator of a people’s improving standard of living.
Should we expect the price of rice come down soon? With some 20,000 persons becoming millionaires (according to a Presidential aide) recently due to their rice farms, there should be reason to hope.
A newspaper did an investigation in Kebbi State and they found out that there're 20k+ new millionaires in the State alone for growing rice. pic.twitter.com/68KI2gG9I8
— Bashir Ahmad (@BashirAhmaad) March 13, 2017
About SBM Intelligence
SBM Intelligence is an arm of SB Morgen, founded in 2012. They are focused on the collection and analysis of information, providing comprehensive analysis for, and support to governments, businesses and NGOs.