Business
Nigeria’s Cost of Living Crisis Pushes Household Food Spending Beyond Total Income
Surging living costs are forcing Nigerian households to spend up to 120 percent of their income on food alone, relying on debt to survive. Addressing Chatham House, economic policymakers highlighted the widening gap between low unemployment figures and widespread working poverty driven by structural agricultural deficits.
InformationNG·October 28, 2026AI-curated
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has revealed that some Nigerian households spend as much as 120 per cent of their income on food, forcing them to borrow or depend on relatives to survive. Speaking at Chatham House in London, Oyedel
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