Details Emerge As NBS Reveals That Cost of a Healthy Diet Has Risen to N1,041 in May
By The New Diplomat Economic Desk
The latest statistics released by the National Bureau of Statistics (NBS) have revealed that the National Average Cost of a Healthy Diet per adult a day stood at N1,041.
The New Diplomat reports that this latest data means that the newly approved N70,000 minimum wage can buy a healthy diet 67 times.
It would be recalled that the Federal Government and Organised Labour reached a consensus of a N70,000 minimum wage on Thursday with the Federal government.
Following the announcement, several Nigerians have begun to question how M70,000 would be sufficient to cater for the needs of average Nigerian workers.
Recently data from NBS has revealed that an average Nigerian earning N70,000 monthly cannot afford to eat a three-square meal for thirty days and still have enough funds for accommodation, transportation and other expenses.
The NBS also said that in May, the average Cost pervHousehold was highest in the South-West at N1,189 per adult per day, followed by the South-East at N1,190 per day.
It said the lowest average CoHD was recorded in the North-West at N919 per adult per day.
The NBS further said that at the state level, Ebonyi, Abia, and Anambra states recorded the highest CoHD at N1,225, N1,215, and N1,205, respectively.
The bureau said Kano recorded the lowest CoHD at N898, followed by Jigawa at N899, and Yobe and Katsina at N906 respectively.
According to the National Bureau of Statistics, a kilogram of Tomato as of May 2024 stood at N1479 per kg. The implication of is that the newly approved minimum wage can buy 47 kg of Tomato.
The newly approved minimum wage can also buy 43.5 kg of local rice at N1608/kg, and this is based on the national food price released by the NBS. That is the newly approved minimum wage cannot buy 50kg of local rice.
The N70,000 minimum wage can buy 34.8kg of Brown beans with each kilogram costing N2009.
It can also likely purchase 52 tubers of yam at 1322 per tuber. 13 kg of boneless beef can also be purchased with the newly approved minimum wage. Other items such as 53.5 loaves of bread at N1308 per loaf can be purchased.
The minimum wage can also likely buy 41.5 bottles of palm oil at N1683 per bottle. 62.8kg of Garri can be purchased at N1114 per kg.
The average price of a litre of petroleum stood at N750 for June based on the NBS data, and this would mean that the approved minimum wage can buy 93 litres of petroleum.
The average amount paid for bus journeys within the city stood at N976 in June,024, meaning that the minimum wage can cover 71.6 trips within the city.
The minimum wage can cover 9.8 intercity journeys at N7,129 per journey based on official data published by the NBS.
