Nigeria’s [Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele](https://en.wikipedia.org/wiki/Taiwo_Oyedele) told delegates at Chatham House in London that a recent government survey revealed some families are spending as much as 120 % of their monthly earnings on food, forcing them to borrow or depend on relatives for survival. The revelation underscores the widening gap between headline inflation and the cost of essential staples.
**What did the survey show?**
- Up to 120 % of household income is devoted to food purchases.
- The nation’s poverty level remains above 50 % while the unemployment rate hovers around 5 %.
- Food inflation was recorded at 19.6 % in September, outpacing the overall decline in headline inflation.
- More than 10 million households have received assistance through a digital cash‑transfer programme verified by the [National Identification Number](https://en.wikipedia.org/wiki/National_Identification_Number_(Nigeria)).
- Agriculture and non‑tradable services together employ 81.4 % of Nigeria’s working population.
Oyedele illustrated the paradox with a vivid remark: “How do you spend 120 % of your income? You borrow food before the end of the month,” he said.
**Why are food costs rising faster than overall inflation?**
The minister attributed the pressure to structural weaknesses in the agricultural value chain. Low yields, seasonal farming cycles, post‑harvest losses, inadequate storage, high transport costs and insecurity in farming communities all contribute to soaring prices. He cited losses of up to 60 % of tomatoes after harvest as a typical example of the inefficiencies plaguing the sector.
**What is the government doing to alleviate the burden?**
Oyedele outlined a two‑pronged approach. In the short term, the administration is expanding the cash‑transfer scheme, which now reaches over ten million households, with payments made digitally to minimise leakage. In the longer term, the government is investing in agricultural technology, irrigation for year‑round cultivation, modern storage facilities and easier access to finance for smallholder farmers.
He also stressed that Nigeria does not levy fuel taxes, indicating that the fiscal pressure on households stems more from deep‑seated structural problems than from fuel levies.
**What is the broader economic goal?**
The finance minister said the priority is to grow agriculture and non‑tradable services faster than the overall economy, thereby raising incomes and gradually reducing reliance on cash transfers. By boosting productivity and stabilising food prices, the government hopes to improve macro‑economic stability for ordinary Nigerians, especially mothers who struggle to put food on the table.
Overall, the minister’s comments highlight the stark reality of a “working poor” class in Nigeria: people who are employed yet still cannot afford basic necessities, a situation that policy makers can no longer ignore.