The cost of living in Nigeria continues to rise, with the price of a pot of jollof rice reaching ₦30,435, a significant increase from previous months. This surge is attributed to various factors, including the 2026 geopolitical energy shock, which led to a 60% increase in global oil prices, a 14% rise in domestic fuel prices, and subsequent increases in transport fares and food prices. Economists point to these "transmission channels" as the cause of the rising costs.
Despite the challenges, Nigerians have developed a remarkable ability to adapt and survive. When fuel prices skyrocketed, people turned to solar panels instead of relying on generators. As the naira depreciated from ₦460 to ₦1,380 against the dollar, businesses began pricing goods in dollars. This resilience is a testament to the nation's ability to cope with adversity. However, the minimum wage of ₦70,000 is barely enough for a civil servant to feed their family, let alone cover other expenses.
The economic strain is taking a toll on the country's healthcare system, with 94,000 doctors and nurses leaving Nigeria since the exodus began. Benue State, for instance, has only 600 doctors, resulting in a staggering doctor-patient ratio of 1:10,000. The President has pledged to address this issue, but the medical professionals are unconvinced, citing poor working conditions and low salaries. Many have opted to seek better opportunities abroad.
Education is another sector severely impacted, with Nigeria having the highest number of out-of-school children globally, at 18.3 million, according to UNICEF. In Kano State alone, 875,000 children are out of school due to poverty and structural barriers. These statistics are a concern, as they represent potential future problems, including an increase in banditry and kidnapping.
The security situation in Nigeria is dire, with 2,938 people kidnapped in the North-West region between July 2024 and June 2025. Zamfara and Kaduna states recorded 1,203 and 629 abductions, respectively. Armed groups have amassed nearly $6 million in ransoms within a year, forcing farmers to abandon their lands and contributing to the rising food prices.
The nation's electricity grid is also under strain, with 22 grid failures between August 2023 and April 2026. This has led to an increased reliance on generators, fuel, and solar panels, further exacerbating the economic burden on citizens. The high cost of electricity, particularly for Band A customers, has made it difficult for businesses to operate efficiently.
The breakdown of trust in institutions is a significant concern, with 70% of Nigerians perceiving most or all police officers as corrupt. Many citizens have lost faith in the system, with only 10% believing they can report corruption without fear of retaliation. The review of 393 corruption cases between 2013 and 2026 revealed that only 144 reached a final judgment, with many cases lingering unresolved for over a decade.
Key points
- The Jollof Index is a reflection of Nigeria's economic struggles, with the cost of a pot of jollof rice increasing to ₦30,435.
- The country's healthcare system is facing a severe shortage of medical professionals, with 94,000 doctors and nurses leaving Nigeria since the exodus began.
- The nation's education sector is also severely impacted, with 18.3 million out-of-school children, the highest globally, according to UNICEF.
