Some Nigerian Households Spend Up to 120% of Their Income on Food, Oyedele Says

Taiwo Oyedele says some Nigerian households spend as much as 120% of their monthly income on food, leaving them to borrow or depend on relatives before the end of the month. Speaking at Chatham House in London, Oyedele said the situation reflects the growing number of working Nigerians who still cannot afford basic needs. He noted that poverty remains above 50% despite a relatively low unemployment rate. He linked persistent food costs to low farm yields, seasonal production, post-harvest losses, poor storage, transport costs and insecurity in farming communities. He said the government is investing in irrigation, agricultural technology, storage and financing for smallholder farmers, alongside cash transfers for vulnerable households.

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