Nigerians love food.
As of 2019, Nigerian households spent 57% (₦22.8 trillion) of their total income (₦40.2 trillion) on food items. A deep dive into the data further tells us that lower-income earners spend even more (61%) on food (likely because they earn less) than urban dwellers (51%).
Unfortunately, with food inflation rising to a 17-year high of 24% this year, more people have been pushed into multidimensional poverty.
The NBS puts this number at a whopping 133 million, over 60% of the total population. It means that of the 200+ million people in Nigeria, more than half cannot