The cost of a Healthy Diet (CoHD) has shot up for the second time in the year, according to the National Bureau of Statistics (NBS).
The CoHD is the least expensive combination of locally available items that meet globally consistent food-based dietary guidelines. It is used as a measure of physical and economic access to healthy diets. This is a lower bound (or floor) of the cost per adult per day excluding the cost of transportation and meal preparation.
According to the NBS, the national average Cost of a Healthy Diet was N938 in February 2024, representing an increase of nine per cent from N473 per day a year earlier, and N858 in January.
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In February 2024, the average CoHD was highest in the South West at N1,157 per adult per day, compared to N723 per adult per day in North West.
In recent months, the CoHD has risen faster than general inflation and food inflation.
However, the CoHD and the food CPI are not directly comparable; the CoHD includes fewer items and is measured in naira per day, while the food CPI is a weighted index.
The NBS said while the food CPI increased approximately by four per cent between January and February 2024, CoHD increased by nine per cent.
“In the past year, the CoHD and the cost of all other goods and services increased at roughly the same rate, until July 2023, when CoHD increased at a faster rate than all goods and services (general Consumer Price Index) and more than all foods for which retail prices are collected,” the report said.
In the most recent month, the CoHD continued to rise at a faster rate than food CPI, which rose approximately four per cent in the past month compared to nine per cent for CoHD.
According to the statistical agency, the CoHD is the least expensive combination of locally available items that meets globally consistent food-based dietary guidelines, used as a measure of physical and economic access to healthy diets.
“This is a lower bound (or floor) of the cost per adult per day excluding the cost of transportation and meal preparation. The retail food price data used in this analysis is collected by the NBS monthly from 10,534 informants spread across the country, from urban and rural outlets for each state,” it added.
Over the past 10 months, the inflation rate in Nigeria has accelerated from 29.9 per cent in January, to 31.7 per cent in February, largely on the back of the federal government reforms including the removal of petrol subsidy and naira devaluation, according to NBS.
Food inflation, which constitutes 50 per cent of the inflation rate, rose to 37.91 per cent from 35.41 per cent. And it is on course to hit an all-time high in March due to a combination of rising demand, higher transportation costs and worsening insecurity.
The NBS report comes after the World Bank forecast that Nigeria’s inflation stood a chance of dropping from the current 31.7 per cent to about 24.8 per cent in 2024.
At the state level Ekiti, NBS said Lagos and Osun states recorded the highest cost with N1295, N1195, and N1184 respectively.
Katsina accounted for the lowest costs with N673, followed by Sokoto and Zamfara with N714 and N720, respectively.
Lastly, at the Zonal level, the average CoHD was highest in the South West Zone at N1157 per day, followed by the South East Zone at N1,077 per day. The lowest average Cost of a Healthy diet was recorded in North West Zone with N723 per day.
