Top 10 Most Expensive States to Live in Nigeria – September 2024: CPI Data Reveals Sokoto at 820.8 and Bayelsa at 831.7 Amid Surging Food Prices -

Last Updated on 8 November 2024 by Naijadazz

To analyze the cost of living across Nigeria in September 2024, as reported by the National Bureau of Statistics (NBS) Consumer Price Index (CPI), we look at the 10 most expensive states based on their overall All-Items CPI. The CPI measures the average change over time in prices paid by consumers for goods and services, allowing us to evaluate inflation and living costs. For September 2024, the data shows significant variation across Nigeria’s 36 states and Federal Capital Territory, with sharp contrasts in urban and rural expenses, particularly influenced by rising food costs. The following sections discuss each of the most expensive states, highlighting how their CPIs reflect different economic pressures impacting their residents.

1. Sokoto

All-Items CPI: 820.8
Food CPI: 1036.7
YoY All-Items Change: 38.74%
MoM All-Items Change: 4.63%Sokoto ranks as the most expensive state in Nigeria based on its September 2024 CPI. The food index shows a striking rise to 1036.7, marking a 50.47% year-over-year (YoY) increase, which suggests food inflation is a significant factor in the state’s high cost of living. Monthly growth in CPI (4.63%) further emphasizes ongoing inflationary pressures. Sokoto’s elevated CPI underscores the challenges residents face in managing expenses, particularly for food items, which are a crucial component of household budgets. This inflation is likely driven by supply-chain issues, reliance on external markets, and possibly local economic factors that disrupt stable access to essentials.

2. Bayelsa

All-Items CPI: 831.7
Food CPI: 1061.3
YoY All-Items Change: 32.05%
MoM All-Items Change: 2.94%Bayelsa’s high CPI reflects an economy burdened by steep food and non-food costs. With a food index of 1061.3 and 38.28% YoY increase, the state experiences one of the most elevated food prices, partly attributed to its geographic and supply challenges. The all-items YoY increase at 32.05% is indicative of broad inflationary pressures affecting not only food but also other essential commodities and services. The monthly rate of 2.94% suggests that Bayelsa residents have seen continuous price hikes, likely compounded by local transportation and infrastructure costs, which affect accessibility and cost of goods in the market.

3. Bauchi

All-Items CPI: 1037.7
Food CPI: 853.5
YoY All-Items Change: 44.83%
MoM All-Items Change: 2.23%Bauchi’s September CPI for all items stands at 1037.7, positioning it among the top costly states. Unlike most states, Bauchi’s inflation impacts both food and other items nearly equally, as shown by its 44.83% YoY increase for all items, one of the highest inflation rates across the country. Bauchi’s geographic and economic dynamics contribute to this high inflation, potentially due to rising costs in transporting goods to remote areas or limited agricultural production. The monthly increase of 2.23% further indicates sustained inflation momentum, creating economic strain for residents across income levels.

4. Taraba

All-Items CPI: 755.5
Food CPI: 982.0
YoY All-Items Change: 29.68%
MoM All-Items Change: 4.07%Taraba’s CPI indicates significant inflation with its food index reaching 982.0, marking a 38.59% YoY change. Food costs, driven by both inflation and supply constraints, place Taraba in a challenging economic situation. This food-driven inflation is reflected in the state’s overall cost of living, placing pressure on residents as both food and non-food prices have surged. The high monthly growth of 4.07% indicates that inflation is ongoing, likely fueled by factors such as transportation costs, especially given Taraba’s terrain, and potential disruptions in the agricultural supply chain that could affect staple food prices.

5. Zamfara

All-Items CPI: 840.2
Food CPI: 999.7
YoY All-Items Change: 34.93%
MoM All-Items Change: 3.63%Zamfara’s high cost of living is driven by both food and general price increases, as reflected in the 34.93% YoY all-items change. The food index of 999.7 emphasizes the impact of inflation on essentials, indicating that food costs are a primary driver of economic hardship in the state. Monthly increases at 3.63% further underscore the continuing upward price trend. These costs are compounded by local economic conditions, including agricultural challenges and distribution inefficiencies, making Zamfara one of the most challenging states for affordability.

6. Gombe

All-Items CPI: 838.5
Food CPI: 1041.4
YoY All-Items Change: 36.37%
MoM All-Items Change: 3.68%Gombe’s CPI showcases high living costs, particularly in food with an index of 1041.4. The all-items YoY increase of 36.37% highlights the strain inflation has placed on residents. The food index’s 44.09% YoY growth reflects significant food price pressures. This trend is likely influenced by rising transportation costs, reduced agricultural output, and other economic factors specific to Gombe’s market, impacting both rural and urban populations.

7. Kano

All-Items CPI: 836.8
Food CPI: 1000.9
YoY All-Items Change: 34.46%
MoM All-Items Change: 3.67%Kano’s CPI demonstrates a substantial cost of living, with food costs hitting an index of 1000.9. The 34.46% YoY increase in all items shows consistent inflation affecting all consumer goods. With a large urban population, Kano’s economy faces pressure from increasing food and housing costs, along with transportation expenses, all of which push up the cost of living. The month-over-month increase of 3.67% further highlights the difficulty of managing expenses, particularly for low- and middle-income households.

8. Benue

All-Items CPI: 751.2
Food CPI: 998.7
YoY All-Items Change: 26.90%
MoM All-Items Change: 2.56%Benue’s high CPI suggests that inflation has significantly impacted the state’s cost of living, particularly in food where the index nears 1000. Food inflation at 35.5% YoY reflects an economic climate heavily influenced by agricultural costs and market inefficiencies. Although its YoY increase for all items is lower compared to other states, Benue’s monthly increase of 2.56% still indicates ongoing inflationary pressures, making it challenging for residents to cope with regular expenses.

9. Anambra

All-Items CPI: 853.5
Food CPI: 1008.7
YoY All-Items Change: 36.16%
MoM All-Items Change: 3.74%Anambra’s CPI ranks it among the more expensive states, especially for food items, which have a YoY increase of 39.83%. With a large urban population, Anambra’s cost of living reflects pressures from housing and transportation costs, impacting urban households in particular. The state’s 3.74% month-over-month growth for all items reflects how inflationary trends are actively reshaping consumer spending patterns.

10. Edo

All-Items CPI: 830.8
Food CPI: 1081.4
YoY All-Items Change: 33.99%
MoM All-Items Change: 3.13%Edo’s high cost of living places it within the top 10, with the highest food CPI on this list at 1081.4. The YoY inflation for food at 42.52% suggests substantial inflationary impact on residents, influenced by food supply issues and possibly external economic pressures. This significant increase impacts both rural and urban areas, suggesting systemic challenges in price stabilization for essentials.

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Top 10 Most Expensive States to Live in Nigeria – September 2024: CPI Data Reveals Sokoto at 820.8 and Bayelsa at 831.7 Amid Surging Food Prices