The National Bureau of Statistics (NBS) has listed Kogi and Oyo States are leading the country as the most expensive states to live in Nigeria.
Nigeria’s economic landscape is facing a harsh reality, with the cost of living skyrocketing to unprecedented levels. A recent report from the National Bureau of Statistics (NBS) paints a grim picture, revealing an inflation rate of 29.90%, impacting every corner of the nation.
This inflationary pressure isn’t uniform, with some states feeling its sting more acutely than others. The NBS report sheds light on the top 10 most expensive states in January 2024, highlighting the varying economic realities across the country.
Lagos, once the runner-up, surprisingly drops to the 10th position with an all-items inflation rate of 31.85%. This marks a slight decrease from December, offering a glimmer of hope. However, the situation remains concerning, with food inflation still hovering at 38.1%.
Ondo and Ebonyi wrestle with rising all-items inflation rates exceeding 32%, driven largely by food price hikes.
Bauchi sees a modest increase in food inflation, while Rivers experiences a significant jump to 40.1%. Abia and Akwa Ibom join the list with inflation rates exceeding 33%.
Oyo takes the unfortunate second place, dethroning Lagos with an all-items inflation rate of 34.58%. Food prices remain a major contributor, with inflation reaching 37.3%.
Kogi retains its title as the most expensive state, with an all-items inflation rate of 35.78%. While food inflation shows a slight decrease, it remains the highest in the nation at 44.2%.
