Oby Ezekwesili, founder, School of Politics, Policy and Governance (SPPG), says there is a strategic need to raise leaders that will turn around the fortunes of Africa through good governance.

Ms Ezekwesili, a  former vice president, World Bank’s Africa Region, and ex-Nigerian minister of education, said this at a briefing to close the second edition of the African conference of SPPG in Abuja on Saturday.

The conference was themed “Good Governance in Africa: Leaders and Citizens Driving Systemic Change.”

She explained the need for substantial systemic changes in governance to facilitate meaningful development across Africa.

“Our continent is failing the majority of our people. Not the continent actually, but there is a leadership-failing majority of our people.

“We want to change that story and reality so that factually we begin to populate the public space with minds that have character, that have competence and capacity.

“Minds that will govern for the public good, and the African citizen will be at par if not ahead of the most advanced societies in our world, ” she said.

Mrs Ezekwesili expressed concern about the present cost of living crisis, poverty, and poor democratic governance in Africa.

She said that the conference, which attracted representatives from 12 African countries, recommended systemic change in governance to meet the developmental needs of the continent.

“Every country that is represented here, we see them as the voice of the citizens of this continent asking for systemic change.

“This is because if the system of governance does not change, we will only be making progress on the margin or, in fact, going backward,” she said.

The SPPG founder called for robust collaboration to achieve the desired systemic change.

She described the Africa conference as an initiative aimed at fostering effective leadership in Africa.

“The SSPG, which we have in Nigeria, in Senegal and we will soon have in Ghana, in Kenya and in Zimbabwe, trains people who will form a new generation of African politicians.

“It will also train public servants who serve the people as custodians of the African public space.

“This will ensure that the wellbeing of African citizens will be at the centre of the rule of government on our continent,” she said.

The conference brought together participants from countries including Ghana, Cameroon, Senegal, and the Democratic Republic of the Congo. 

(NAN)

Ireti Kingibe, senator representing the federal capital territory (FCT), says being a woman in the national assembly is pretty difficult.

Kingibe spoke on Thursday, when an anonymous person at the 2024 edition of Voice of Women (VOW) conference and awards, accused her of abandonment and ingratitude after women cast their votes for her.

The event had the theme: ‘Achieving Women Inclusion for a Sustainable Nigeria’.

The anonymous speaker said FCT women voted for the senator due to a trust in the capabilities of women, but that since last year, there has been no avenue or town hall organised by the senator to show her gratitude.

“Now, those women we mobilised are now looking at us and saying that they have given us money, they have given us salt, rice, when there is nothing as such. They didn’t even call us to their inauguration, they didn’t come back to say thank you,” she said.

Responding, Kingibe said there is a misconception on what governance entails.

She said instead of going to meet people individually, she believes in bringing governance to the people through her initiatives.

“I have been a senator for a year and half, I am primarily a legislator. I have bills waiting to be passed, creating the nursing and midwifery school In Gwagwalada, I have a maternal free healthcare for women. I have a few of such bills still pending,” she said.

“But notwithstanding, since I have been a senator, I have empowered and I have everything on record. I have empowered 10,000 people. Now, it is not possible… FCT has 4 to 5 million people and for me to personally see everybody that voted for me.

“I am also building a 50-bed hospital, I am putting up an ICT centre in Gwagwalada and Nyanya. I paid with my personal money 2,000 JAMB forms for free.

“So, at the end of the day, governance means to me… bringing things for the general good and not for the individual.

“The truth is that being a woman in the national assembly is very, very, very hard. So, I have to lobby for everything. When I leave here, I will go to the national assembly, sign in and then go from ministry to ministry so that all those things that doesn’t get attention by the executive, I can slip them into the budget from lobbying different ministers to put it in their budget.

“I have also renovated with my personal money and made allowance for the ante-natal centre in Gwagwalada teaching hospital. Any of you can go and verify all these things.

“So, I’m sorry. Yes, women complain, I haven’t come to them one by one; it is not possible. It is either I do that and then you don’t get anything else.

“So that is my frustration and I want women to understand that you are voting for other women so that our general lives will improve not because she is going to come and meet you personally.”

Also speaking during the event, Toun Okewale Sonaiya, chief executive officer of Women Radio, urged President Bola Tinubu to lend his voice and political will to the inclusion of women in Nigerian politics and socio-economic spaces.

“I call on President Bola Tinubu to lend his voice to securing the 74 seats allocated to women. Use your voice and political will to elevate women inclusion in Nigerian politics and society to global standards,” she said.

Sonaiya also called on female participants at the event to put aside their emotions, societal limitations and support women in the election of women to leadership positions.

“I don’t believe the saying that women forget other women when they get into positions of power. I say, let’s get them into government first,” she said.

“That way, we can have more people representing our needs. If you have money, no matter how little, support the campaign of a woman seeking elective positions.”

Gilead Sciences has announced that cheaper versions of its “gamechanger” HIV prevention drug, lenacapavir, will be made available in 120 low and middle income countries.

Lenacapavir is an approved HIV treatment given as a twice-yearly injection.

It stopped infection in a trial involving girls and women in South Africa and Uganda, and offered almost complete protection in a second trial that mainly involved men across Argentina, Brazil, Mexico, Peru, South Africa, Thailand and the US.

In a statement, the company said it had signed non-exclusive, royalty-free voluntary licensing agreements with six pharmaceutical manufacturers, to make and sell generic lenacapavir to these countries.

The manufacturers are Dr. Reddy’s Laboratories Limited, Emcure, Eva Pharma, Ferozsons Laboratories Limited, Hetero and Mylan, a subsidiary of Viatris.

Gilead Sciences said the agreements were signed in advance of any global regulatory submissions, to enable these countries to quickly introduce generic versions of lenacapavir for HIV prevention.

The company said it would also bridge the gap until those manufacturers were up and running, by providing Gilead-supplied product, prioritising registration in 18 countries with high HIV rates.

These countries are Botswana, Eswatini, Ethiopia, Kenya, Lesotho, Malawi, Mozambique, Namibia, Nigeria, Philippines, Rwanda, South Africa, Tanzania, Thailand, Uganda, Vietnam, Zambia and Zimbabwe.

“The agreements advance Gilead’s strategy to enable broad, sustainable access to lenacapavir for pre-exposure prophylaxis (PrEP) globally if approved, and align with Gilead’s vision of ending the HIV epidemic for everyone, everywhere,” the company said.

“Gilead will support low-cost access to the drug in high-incidence, resource-limited countries through a two-part strategy: establishing a robust voluntary licensing program, and planning to provide Gilead-supplied product at no profit to Gilead until generic manufacturers are able to fully support demand.

“Additionally, the agreements cover not only lenacapavir for HIV prevention (pending approval), but also lenacapavir for HIV treatment in heavily treatment-experienced (HTE) adults with multi-drug resistant HIV.”

A cross-section of Nigerian workers on Friday in Abuja expressed growing frustration over the increasing cost of transportation, attributing it to the persistent rise in fuel prices.

In separate interviews, the workers decried the impact of high transportation costs on their finances and overall well-being.

Godson Anosike, a dentist, noted that his regular route to work now costs N500, up from N200 a year ago.

“The difference is staggering, and it has drastically affected my daily expenses,” said Mr Anosike.

Mr Anosike decried that salaries have remained stagnant despite the steep increase in transportation costs, adding, “And it’s tough.”

Ubokabasi Ekam, an engineer, called for fuel price control to reduce transportation fares.

“Transportation prices have tripled, making it unmanageable,” said Mr Ekam.

Ubong Udoekpo, a lawyer, said transportation now consumes more than half his salary. “Most workers consider resigning due to unsustainable salaries.”

Joy Light, a civil servant, stated that transportation expenses equal her salary.

“I’ve had to reduce my workdays. How can one survive if all the money earned goes to transport?”

The workers emphasised that the fuel hike has triggered a ripple effect across the economy, driving up prices of essential goods and services.

(NAN)

The founder and presiding shepherd of Salvation Ministries, Pastor David Ibiyeomie, has asserted that God sent the first creation, Adam, out of the garden of Eden because he touched his tithe.

Naija News reports that Pastor Ibiyeomie’s claim regarding the biblical figure Adam and his purported connection to tithes has generated heated arguments on social media.

In a viral video seen online, Pastor Ibiyeomie linked Adam’s tragic downfall as a result of eating the ‘forbidden fruit,’ the Apple to imply an ill-fated decision to handle what God had explicitly commanded him to avoid.

With passionate conviction, Pastor Ibiyeomie explored the profound implications of tithing, framing it as a religious obligation and a divine principle of immense significance.

He asserted that the essence of Adam’s transgression was rooted in his failure to adhere to God’s directive concerning the tithe, claiming that this act of disobedience ultimately set the stage for humanity’s fall from grace.

Naija News reports that Christians have been familiar with scriptures that vividly depict the apple as the forbidden fruit, representing the alluring temptation God specifically instructed humanity to shun.

This fruit, taken from the tree of the knowledge of good and evil, has long been associated with the Genesis of sin.

It is worth noting that Adam and Eve’s ill-fated choice led to their expulsion from the idyllic paradise of Eden.

However, Pastor Ibiyeomie has shared a different belief with his congregation on the issue of Tithing and Adam’s punishment for allegedly refusing to pay the tithe.

Watch the video clip below.

Yoruba Nollywood actress, Atinuke Kazeem, better known as Mama No Network, has opened up about her broken marriage to her colleague, Baba Lanko.

Naija News reports that the comic actress, in an interview with her colleague, Biola Adebayo, on the YouTube show, ‘Talk with B’, revealed how she and Lanko worked together to produce films.

The movie star said Lanko sought to marry another wife after he found fame and money.

Atinuke also stated that after the dissolution of their marriage, Lanko blocked her from appearing in the same films as him.

The thespian further recounted the struggles she faced with infertility during their marriage, including undergoing extreme measures like drinking kerosene, which made her bloated.

She added that God eventually “answered her prayers” by making her conceive naturally.

In her words, “My ex-husband, Lanko, and I worked hard to produce many films. But when money and fame came, he told me he wanted to marry a new wife.

“After we parted ways, he told producers not to feature me in the same projects as him. Today, however, he now uses his money to call me for movie roles, and I give glory to God.

“I wasn’t the one who left the marriage; he simply stopped coming home. During our time together, I faced immense difficulties while trying to have a child. I went through hell.

“At one point, I was given kerosene to drink. All those desperate measures affected me, leading to my bloated stomach. When I finally gave up hope, God answered my prayers, and the pregnancy came naturally.”

In May 2023, Mama No Network tied the knot to a younger partner.

The House of Representatives has approved a request by President Bola Tinubu to refund approximately ₦24 billion to the Kebbi and Nasarawa state governments for the construction of two airports that have been taken over by the Federal Government.

Naija News reports that in a letter dated May 16, 2024, and addressed to House Speaker Tajudeen Abbas, Tinubu urged the House to approve refunds of ₦15 billion to Kebbi State and ₦9 billion to Nasarawa State for the construction of Sir Ahmadu Bello International Airport in Birnin Kebbi and Lafia Cargo Airport, respectively.

The letter pointed out that the Federal Executive Council, during its meeting on May 23, 2023, approved the reimbursement through promissory notes.

The approved refund for Nasarawa State amounts to ₦9.54 billion, while Kebbi State will receive ₦15.14 billion.

On Thursday, the House Committee of Supply considered and approved the report submitted by the Chairman of the Committee on Aids, Loans, and Debts Management, Abubakar Nalaraba.

The approval formalized the reimbursement of funds based on the claims made by both state governments.

World Bank Approves $500 Million Loan To Tinubu Govt

Meanwhile, Tinubu’s government has just secured a $500 million loan from the World Bank to facilitate the Sustainable Power and Irrigation for Nigeria (SPIN).

The initiative, Naija News understands, aims to mitigate challenges arising from climate change.

The Regional Director of Sustainable Infrastructure Development for West and Central Africa at the World Bank, Chakib Jenane, disclosed the loan details during a Thursday meeting with Prof. Joseph Utsev, the Minister of Water Resources and Sanitation in Abuja.

Jenane indicated that the SPIN project received approval during the World Bank’s Board meeting held on September 26 and is set to commence in January 2025.

He explained that the project is intended to tackle climate-related challenges such as floods and droughts by enhancing dam safety, improving water resource management, and expanding irrigation services.

The World Bank director noted that the initiative will benefit around 950,000 individuals, including farmers and livestock producers.

Jenane underscored the importance of Nigeria continuing its preparations to fulfill the remaining conditions necessary for the project’s successful implementation by the January 2025 deadline.

Additionally, the World Bank team provided an update on the Transforming Irrigation Management in Nigeria (TRIMING) project, which is approaching completion.

The team also reported on the Sustainable Urban and Rural Water Supply, Sanitation, and Hygiene (SURWASH) programme, highlighting the necessity of involving additional states in this initiative.

Jenane urged the ministry to consider establishing a National WASH Fund, a critical goal under the Disbursement Linked Indicator (DLI) 1 of the SURWASH programme.

In his remark, Utsev expressed his appreciation to the bank for continuing to support Nigeria’s development, particularly in sustainable infrastructure and water resource management.

The Minister assured the delegation that the Nigerian government would allocate the required counterpart funding to guarantee the effective execution of all projects supported by the World Bank.

Utsev further highlighted the significance of adhering to the timeline for the TRIMING Project and reiterated the ministry’s dedication to achieving the project’s deadline of January 2025.

Additionally, the Minister of State for Water Resources and Sanitation, Dr. Bello Goronyo, expressed gratitude to the World Bank for its endorsement of the SPIN project.

Goronyo also reaffirmed the ministry’s commitment to ensuring the project’s success through cooperative initiatives.

The sustained rise in the prices of goods and services in Nigeria is driven by a complex interplay of domestic economic challenges, monetary policy decisions, and external factors. The trends identified by manufacturers, agricultural experts, and economic analysts reveal that inflationary pressures are likely to persist, affecting both the productive and service sectors. This analysis will explore the various underlying causes and how they are expected to shape price trends in Nigeria.

1. Monetary Policy and Rising Interest Rates

The continuous increase in the Monetary Policy Rate (MPR) by the Central Bank of Nigeria (CBN), now at 27.25%, has had a ripple effect across the Nigerian economy. The Manufacturers Association of Nigeria (MAN) has expressed concerns that higher borrowing costs, which now exceed 35%, are compounding the challenges faced by the manufacturing sector. With the cost of credit rising, manufacturers are forced to either raise prices to cover costs or reduce production capacity, exacerbating supply shortages.

As production costs rise, the prices of manufactured goods inevitably increase, further eroding consumer purchasing power. This cost-push inflation is particularly damaging for a country like Nigeria, where many industries depend on imports for raw materials. As the Naira continues to depreciate, manufacturers pay more for inputs, worsening the inflationary spiral.

2. Depressed Consumer Demand and Inventory Buildup

Despite rising production costs, many manufacturers face the challenge of declining consumer demand due to reduced purchasing power. With inflation soaring, consumers are spending more on essential goods like food and fuel, leaving less disposable income for other goods and services. As a result, manufacturers are accumulating unsold inventory, which reached ₦1.24 trillion in the first half of 2024—a significant increase from ₦869.37 billion at the end of 2023.

This situation is unsustainable for the manufacturing sector, as companies must either continue raising prices to offset losses or cut production, leading to layoffs and potential business closures. The resulting unemployment would further suppress demand, creating a vicious cycle of stagnating economic activity and rising inflation.

3. Food Inflation and Agricultural Challenges

The agricultural sector, a crucial component of Nigeria’s economy, is also grappling with significant challenges that are contributing to rising food prices. Worsening insecurity, particularly in the northern regions, has severely disrupted farming activities, reducing both output and productivity. Armed conflicts and banditry have prevented farmers from accessing their lands, while attacks on rural communities have driven many farmers away from agricultural activities altogether.

Moreover, Nigeria suffers from a lack of adequate storage and processing facilities. According to the Food and Agriculture Organisation (FAO), Nigeria loses up to 50% of its agricultural produce post-harvest due to poor infrastructure, inadequate storage, and inefficient food processing methods. This wastage leads to shortages, driving up the prices of staple foods such as grains, fruits, and vegetables. Even during harvest seasons, when prices typically ease, the lack of proper storage ensures that these gains are short-lived, with prices quickly rebounding after seasonal abundance passes.

The combination of insecurity, high post-harvest losses, and inefficient food distribution systems guarantees that food prices will remain elevated in the near and medium term, putting further pressure on household budgets.

4. The Depreciation of the Naira and Smuggling

One of the most significant factors driving inflation in Nigeria is the persistent depreciation of the Naira, particularly against stronger currencies like the CFA franc in neighboring countries. As the Naira weakens, the price differential between Nigeria and its neighbors increases, creating opportunities for smugglers to move food items and other essential goods out of Nigeria to sell them at higher prices.

This cross-border smuggling exacerbates local shortages, further driving up domestic prices. With the Naira currently trading at around ₦1,700/$ in the parallel market, there is little hope for a near-term recovery. The government’s decision to float the Naira in 2023, while aimed at addressing exchange rate imbalances, has led to increased volatility in the currency market, with speculative activities and weak foreign investment inflows adding to the pressure on the Naira.

Without robust interventions to stabilize the currency, such as increasing foreign reserves or attracting substantial foreign investment, the exchange rate is likely to remain under pressure. This continued depreciation will ensure that imported goods, including food items and raw materials for manufacturing, remain expensive, further fueling inflation.

5. Energy Costs and Petrol Price Increases

Energy prices, particularly petrol, have been a key driver of inflation in Nigeria. The removal of petrol subsidies by the Tinubu administration has led to a sharp increase in fuel prices, with petrol now selling for around ₦1,000 per liter—up from ₦187 per liter when the administration took office. Given that transportation costs account for a significant portion of the cost structure for many goods and services, the impact on inflation has been profound.

Higher fuel prices have not only driven up the cost of transporting goods but also increased the operating costs for small businesses and households that rely on petrol-powered generators due to the country’s unreliable electricity supply. With global oil prices likely to remain high due to geopolitical tensions and the depreciation of the Naira against the U.S. dollar, petrol prices are unlikely to decline soon, ensuring that energy costs will continue to be a major contributor to inflation.

6. Structural Economic Issues and Foreign Exchange Shortages

Nigeria’s heavy dependence on crude oil exports and the chronic underperformance of the oil sector, due in part to oil theft and declining production, have reduced the country’s foreign exchange earnings. This, in turn, limits the ability of the Central Bank of Nigeria (CBN) to stabilize the Naira through interventions in the foreign exchange market.

With dwindling foreign reserves and limited inflows from non-oil exports, Nigeria has been unable to meet the foreign currency needs of manufacturers and importers. The resulting scarcity of foreign exchange has led to higher costs for imported goods, from industrial machinery to everyday consumer products. Until Nigeria can diversify its export base and increase foreign exchange earnings, these challenges will persist, keeping the pressure on prices.

>> Click here to continue reading..

The Nigerian National Petroleum Company Limited has pledged 272,500 barrels per day of crude oil through a series of crude-for-loan deals totalling $8.86bn.

By pledging 272,500 barrels daily, it means that about 8.17 million barrels of crude will be used for different loan deals by the national oil firm on a monthly basis.

This is according to an analysis of a report by the Nigeria Extractive Industries Transparency Initiative and the NNPC’s financial statements.

Under these deals, notable projects include Project Panther, Project Bison, Project Eagle Export Funding (Original, Subsequent, and Subsequent 2 Debts), Project Yield, and Project Gazelle.

According to The PUNCH’s findings, NNPC has already fully repaid $2.61bn in loans, representing 29.4 per cent of the total credit facility, while $6.25bn or 70.6 per cent, remains outstanding.

Also, out of the $8.86bn credit facility, only about $6.97bn has been received from seven crude-for-loan deals.

One of the key projects, Project Panther, involves a joint venture between NNPC and Chevron Nigeria Limited, backed by international and local banks.

The project secured a $1.4bn loan facility, with 23,500bpd pledged to service the debt. Repayment is set to commence after a moratorium, with financing terms including an SOFR (Secured Overnight Financing Rate) plus 5.5 per cent margin and a liquidity premium.

Another significant deal is Project Bison, tied to NNPC’s attempt to acquire a 20 per cent equity stake in the Dangote refinery. However, the national oil company only acquired a 7.25 per cent stake.

The project secured a $1.04bn loan from Afrexim Bank, with 35,000 bpd pledged as collateral. NNPC fully repaid this loan in June 2024.

Project Eagle Export Funding comprises three separate loans aimed at meeting various financial obligations.

The original loan, secured in 2020 for $935m, was serviced with 30,000 bpd and was fully repaid by September 2023.

A subsequent loan of $635m was also fully repaid by the same period. The third tranche, known as Project Eagle Export Funding Subsequent 2 Debt, was secured in 2023 for $900m, with 21,000 bpd pledged. Repayment is scheduled to begin in June 2024, and the loan will mature in 2028.

Project Yield, designed to support the Port Harcourt Refining Company, involves a $950m loan, with 67,000 bpd pledged for repayment.

The repayment of the loan, secured in 2022, will begin in December. This seven-year facility is crucial to refurbishing the refinery and enhancing domestic refining capacity.

However, despite this crude-for-loan arrangement, fuel production at the Port Harcourt refinery has yet to commence, despite multiple postponements as of August. Promises from the Federal Ministry of Petroleum Resources and NNPC have repeatedly fallen through.

More recently, there was the Project Gazelle deal, which aimed to stabilise Nigeria’s foreign exchange market.

In December 2023, NNPC secured a $3bn forward sale agreement, pledging 90,000bpd from Production Sharing Contract assets to cover future tax and royalty obligations.

As of the end of 2023, $2.25bn had been drawn from this facility, with repayments scheduled to begin by mid-2024.

These crude-for-loan deals come at a time when Nigeria is struggling to boost its oil production.

The NEITI 2022-2023 report revealed a significant decline in crude oil output, reaching the lowest levels in a decade. In 2022, the country produced 490.94 million barrels of crude oil, a steep drop from the peak of 798.54 million barrels in 2014.

Although production slightly improved to 537.57 million barrels in 2023, this still represents only 67.16 per cent of the country’s peak production capacity.

One of the major challenges facing the sector is production deferment. In 2023, Nigeria deferred 110.66 million barrels of crude oil, down from 153.44 million barrels in 2022.

The deferment was primarily due to unscheduled maintenance, repair issues, and oil theft.

Despite government efforts to curb these issues, including initiatives to reduce theft and sabotage, operational inefficiencies persist.

NEITI reported that oil theft and sabotage resulted in the loss of 5.25 million barrels in 2023, exacerbating production struggles.

The House of Representatives Special Joint Committee recently directed NNPC to halt further crude-for-loan agreements.

This directive follows reports that the company is planning to borrow an additional $2bn in oil-backed loans amid efforts to settle a $6bn backlog owed to international oil traders, particularly following the removal of fuel subsidy.

The PUNCH earlier reported that the NNPC was in talks for another oil-backed loan to boost its finances and allow investment in its business, according to the Group Chief Executive Officer, NNPC, Mele Kyari.

Kyari said the company wanted the new loan against 30,000-35,000 barrels per day of crude production, though he declined to say how much money it sought.

Nigeria’s government finances rely on oil the NNPC exports, which provides the bulk of crucial foreign exchange reserves. However, pipeline theft and years of underinvestment have sapped oil production in recent years, and the cost of fuel subsidies has further depleted cash reserves.

On August 17, 2023, the NNPC announced that it had secured a $3.3bn emergency crude oil repayment loan from the African Export-Import Bank.

It explained at the time that the oil company would use the loan to support the Federal Government in stabilising Nigeria’s exchange rate.

The facility, among other things, would help the Federal Government attend to some of its dollar obligations, assist the Central Bank of Nigeria in stabilising the foreign exchange market, and provide funding for NNPC.

Providing details about the deal in the document titled, “Everything you need to know about the NNPC Limited’s $3.3bn loan, also known as Project Gazelle,” NNPC said, “This is a financing agreement secured by NNPC Limited to prepay future royalties and taxes to the Federal Government.”

The company also stated that it adopted a lower price benchmark for the $3.3bn crude-for-cash loan to reduce the risk of default and ensure financial stability.

Giving details on the benchmark oil price, the company said the facility used a conservative crude price of $65/barrel to calculate the allocated crude to be produced and sold.

NNPC also said repayments were strategically planned and tied to future oil sales, with conservative pricing in oil sales contracts mitigating the risks associated with oil price volatility.

The rising cost of maintaining a healthy diet has put a strain on many Nigerians, as the average daily cost of a healthy diet in the country reached N1,255 per adult in August 2024, according to the National Bureau of Statistics.

The NBS in a report released on Thursday that the increase represented a 28 per cent rise compared to N982 in March 2024.

The bureau collects retail food prices monthly from over 10,000 outlets nationwide to monitor inflation trends, including the prices of more than 200 food items.

“Animal source foods were the most expensive food group in August, accounting for 37 per cent of the total cost of a healthy diet while providing only 13 per cent of total calories,” the report highlighted.

At the state level, costs varied, with Ogun, Lagos, and Rivers states recording the highest average daily costs of N1,641, N1,615, and N1,572, respectively.

“Katsina, Kaduna, and Sokoto, however, had the lowest costs, at N880, N951, and N980 per day,” the report further noted. These regional disparities highlight the unequal access to affordable nutrition across the country.

“At the zonal level, the South West zone recorded the highest average daily cost of N1,554, followed by the South-South zone at N1,381. “The North West zone recorded the lowest cost of a healthy diet at N1,041 per day,” NBS added.

The surge in costs was attributed to the rising prices of key food groups.

“Legumes, nuts, seeds, starchy staples, and vegetables were the main drivers of the increase in the cost of a healthy diet,” the report explained.

Despite the 28 per cent increase over the past six months, there was a 0.8 per cent decline in the cost compared to July 2024, which was N1,265 per day.

In addition to the rising food costs, the NBS report showed that the price of vegetables dropped by 14.5 per cent on a month-to-month basis in August.

As food prices continue to rise, experts warned that more Nigerians may find it increasingly difficult to access nutritious food.

The NBS also compared the cost of a healthy diet with the general consumer price index, noting that since July 2023, the cost of a healthy diet has been rising faster than the prices of other goods and services in Nigeria.

“The cost of a healthy diet increased at a faster rate than all goods and services in the past year,” it stated.