Average pot of jollof rice now costs ₦27,528 as prices rise 153% since 2023 — SBM Intelligence

The cost of preparing a pot of jollof rice in Nigeria has seen a dramatic rise with the national average now at ₦27,527.85. This reflects a 153 percent increase between March 2023 and June 2025, according to a new report by SBM Intelligence.

The report, titled “The SBM Jollof Index, Q2 2025: The Crushing Cost of a Pot,” was released on Wednesday. It highlights how the price of key ingredients such as proteins, pepper, onions, and vegetable oil has surged significantly over time.

SBM Intelligence noted that while Nigeria’s headline inflation has shown signs of easing, food prices have followed a different trajectory. The divergence suggests persistent supply-side constraints are affecting the affordability of staple meals like jollof rice.

The report pointed out significant regional disparities. In Abuja, for example, the average cost of a pot of jollof rice rose from ₦4,095 in July 2016 to ₦32,125 in June 2025. This spike was particularly steep after 2021. Both Nyanya and Wuse II experienced similar trends despite short-term fluctuations.

The inflationary trend aligns with broader economic pressures. In July 2016, Nigeria’s annual inflation hit 17.1 percent. By April 2025, Abuja saw an all-items inflation rate of 32.9 percent year-on-year. Though the national rate eased to 22.97 percent by May 2025 and was projected to drop further in June, factors like fuel subsidy removal and exchange rate adjustments have eroded purchasing power.

In Bauchi, prices went from ₦5,700 in March 2019 to ₦41,050 in June 2024. The report described this as a near eightfold increase, largely driven by logistical bottlenecks and insecurity. Bauchi has consistently recorded some of Nigeria’s highest inflation rates. In June 2020, the all-items inflation rate in Bauchi was 15.02 percent and rose to 21.99 percent by June 2022. By May 2025, the state had a 4.85 percent month-on-month inflation spike compared to the national average of 22.97 percent.

In Kano, the jollof index moved from just below ₦5,000 in mid-2016 to nearly ₦29,300 by May 2025. Unlike Bauchi, the report said Kano’s food supply was not heavily disrupted by recent climate events, but cost pressures remain evident.

For Southeast Nigeria, a composite index covering Awka and Onitsha showed a steady climb. From ₦4,120 in July 2016, prices rose to ₦21,588 by June 2024 before slightly easing to ₦20,500 by June 2025. The region started with a lower baseline compared to the North. Significant jumps occurred in 2021 and 2023. There was a brief dip in mid-2023, but prices resumed their upward path soon after.

The South-South region also faced sharp increases. The average price went from ₦5,610 in March 2019 to ₦32,633 by June 2024. Port Harcourt and Calabar were key drivers of this trend, particularly since 2021. The report linked this to the region’s dependence on ports and inter-regional trade. Between 2020 and 2025, Port Harcourt saw the highest price recorded at ₦32,600.

Across the region, the increase was attributed to rising food and transport costs, as well as the broader inflationary environment nationwide.

In the Southwest, SBM observed a mixed but worrying trend. Urban centres like Lagos showed much higher figures than surrounding areas. Lagos’ Balogun Market recorded the highest index value in the region at ₦23,591 in June 2025.

Despite rising food prices, Nigeria’s overall headline inflation slowed slightly in June 2025 to 22.22 percent, down from 22.97 percent in May, according to the National Bureau of Statistics.

Year-on-year food inflation stood at 21.97 percent in June, a sharp improvement from 40.87 percent recorded in June 2024.

SBM Intelligence warned that unless the government addresses core structural issues like insecurity, poor infrastructure, and insufficient support for agriculture, the cost of essential meals like jollof rice will remain out of reach for many Nigerians.