A new report by SB Morgen has shown that the rise in diesel prices, petrol scarcity, and heightened insecurity in the nation drove food prices to a record high in the first quarter of 2022.
The organisation stated that the average cost of making a pot of jollof rice for a family of five increased by 7.3 per cent from N8007.50 in the third quarter of 2021 to N8595 in Q1, 2022.
It added in the face of limited production due to insecurity, storage problems, and a growing population, the importation of food would increase, and at higher costs, because of restrictions on forex and the high black-market rates.