SB Morgen (SBM) Intelligence, a geopolitical intelligence platform, disclosed a 29.3 per cent rise in the cost of preparing a pot of jollof rice.
Gatekeepers News reports that the agency said this in its latest report titled, “The SBM Jollof Index Q1 2024: Crisis at the table ”.
Jollof rice is a popular delicacy among Nigerians.
The report says the delicacy rose from N13,106 in October to N16,955 in March 2024.
The SBM Jollof Index tracks how much it costs to make a pot of jollof rice across 13 markets in six geopolitical zones for a family of five and uses the figures to measure the inflationary trends in the country.
In recent years, food prices have been on the rise across Nigeria. The situation deteriorated due to the impact of government policies such as the removal of subsidies on petrol, among others.
In recent years, food prices have been on the rise across Nigeria. The situation deteriorated due to the impact of government policies such as the removal of subsidies on petrol, among others.
