Top 10 Nigerian States With Highest Cost Of Living As Of April 2024

Top 10 Nigerian States With Highest Cost Of Living As Of April 2024

4 weeks ago
3 mins read

Nigeria has continued to witness high cost of living in recent times as prices of things continue to rise beyond the purchasing power of average citizens. The Consumer Price Index (CPI) data released recently by the National Bureau of Statistics (NBS) revealed that headline inflation rose for the 18th straight month reaching a 28-year high of 33.69 per cent.

This is as the food inflation rate also rose to 40.53 per cent in April from 40.01 per cent in March 2024. Analysts have attributed the persistent rising cost of things to the foreign exchange volatility, petrol subsidy removal in 2023 which led to high cost of the product and energy costs generally, affecting transportation, logistics and other businesses. Also, insecurity which has driven farmers away from their homes and farmlands, has also been blamed for food shortages which cause high prices as demand surpasses supply.

This development affects the daily lives of people across states in Nigeria. There are variations in cost of things across states shown in the data released by NBS.

Below is a list of 10 states with the highest cost of living as of April 2024.

1. Kogi

Kogi had the highest all-item inflation rate in April with 40.84 per cent up from 39.97 per cent. This shows there is an 8.65 per cent increase from the previous month.

In terms of food inflation, the north-central state also recorded the highest (48.62 per cent) on a year-on-year basis in April 2024. Despite the slight decrease when compared to that of March which was 48.46 per cent, the data generally reflect the dire economic situation in the state the state and the impact on the people in terms of the cost-of-living crisis it poses.

2. Bauchi

Bauchi which is in North-east is the second in our list of states with the highest cost of living. The state recorded the second-highest in all-items inflation rate with 39.91 per cent in April 2024. This is 1.57 per cent increase from 38.34 per cent in March 2024. The food inflation rate was 33.85 per cent.

3. Oyo

Oyo State in Southwest Nigeria comes third in our list of states with highest cost of living in the country. The state had 38.37 per cent in all-item inflation in April 2024 up from 37.29 per cent, indicating a growing economic strain.

The food inflation increased 41.83 per cent in March to 43.53 per cent in April 2024.

4. Ondo

Ondo, another state in Southwest, emerged as the fourth state with the highest cost of living in Nigeria in April 2024. The state recorded 38.12 per cent in all-item inflation rate in April, a significant 2.31 per cent points increase from 35.81 per cent in March 2024.

On the other hand, the food inflation rate also witnessed a significant surge from 43.45 per cent in March to 45.87 per cent in April.

5. Rivers

Rivers, a state in South-South, again takes the fifth position in the list according to the data having recorded 37.64 per cent in all-item inflation rate in April 2024 This reflects a marginal increase from 37.19 per cent in March 2024.

 

6. Kwara

Kwara, a north-central state left its third position as of March to sixth in April with a slight decrease in all-items inflation rate from 38.10 per cent to 37.52 per cent.

However, the food inflation rate rose slightly from 46.18 per cent in March to 46.73 per cent in April 2024.

This means that while there may be some form of relief that occurred in overall price levels, food prices continue to be a primary inflation driver in Kwara, having and therefore continue to continue to have an impact on the cost of living in the state.

7. Jigawa

Jigawa, a northwest state, took seventh position in our list of states with the highest cost of living in Nigeria.  The state recorded 37.31 per cent in the all-item inflation rate for April. This is a significant increase of 3 per cent points from 34.31 per cent in March 2024. The food inflation rate jumped to 42.48 per cent in April from 37.78 per cent in March 2024.

The significant increase in both categories (all-items and food inflation rates) in Jigawa underscores the harsh economic realities in the state and the cost-of-living crisis the residents face.

8. Osun

Osun which is in Southwest Nigeria, emerged as eight in the list leaving its 10th position in the previous month of March 2024. It moved from 35.44 per cent in March to 37.17 per cent in April 2024.

The food inflation rate also increased from 43.54 per cent in March to 45.62 per cent in April 2024.

9. Lagos

Lagos, another Southwest state that is the commercial capital of Nigeria, came into the list taking ninth position. The state encountered a significant 3.02 per cent points increase in the all-item inflation rate from 34.13 per cent in March 2024 to 37.15 per cent in April 2024.

The food inflation rate in the state also increased from 40.65 per cent in March to 42.99 per cent in April 2024.

10. Abia

Abia, a state in Southeast Nigeria, emerged 10th in the list after being on the eightieth position consecutively. The state experienced an increase in the all-item inflation from 36.10 per cent in March to 36.50 per cent in April 2024.

The food inflation rate also increased marginally from 44.47 per cent in March to 44.56 per cent in April 2024.

Looking at the data generally, food prices forms a major driver of inflationary pressures across the states with the attendant impact on the cost of living.

 

 

 

 

 

 

 

 

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