NBS Reveals Most Affordable Nigerian States

According to Nigeria’s National Bureau of Statistics (NBS), the three most affordable Nigerian states with the lowest cost of living are Benue, Delta, and Borno.

Benue, Delta, and Borno saw the least year-on-year increase in headline inflation, according to the NBS July Consumer Price Index and Inflation Data that were issued on Thursday.

Year-on-year headline inflation rates in Benue, Delta, and Borno were 27.28 percent, 28.06 percent, and 28.33 percent, respectively.

The three states with the least headline inflation growth from one month to the next were Taraba (0.17%), Kwara (0.62%), and Ondo (0.91%).

Alternatively, the states of Borno (3.84% rise), Enugu (3.76% increase), and Abuja (3.91% increase) had the most percentage increases.

The headline inflation rate in Nigeria hit a new low of 33.90 percent in July, the first time it has been below 21.34 percent since 2022, citing data issued by NBS.

Food inflation fell to 39.53% in July from 40.87% in June, according to NBS, due to lower prices for staples like garri and fufu.

Frequently Asked Questions (FAQs) on NBS’ Most Affordable Nigerian States

Q: What are the three most affordable Nigerian states according to the NBS?

A: Benue, Delta, and Borno are the states with the lowest cost of living.

Q: What factors does the NBS consider when determining affordability?

A: The NBS likely considers factors such as inflation rates, housing costs, food prices, and other essential expenses.

Q: What were the year-on-year inflation rates in the most affordable states?

A: Benue had the lowest rate at 27.28%, followed by Delta at 28.06% and Borno at 28.33%.

Q: Which states had the highest increase in inflation rates?

A: Borno, Enugu, and Abuja had the highest percentage increases in inflation.

Q: Did food inflation increase or decrease in July?

A: Food inflation decreased in July compared to June.

Q: Which food items contributed to the decrease in food inflation?

A: Staples like garri and fufu saw lower prices, contributing to the decline in food inflation.

Q: What is the overall trend of inflation in Nigeria?

A: The headline inflation rate in Nigeria has been declining in recent months.