With over half of household income spent on food, Nigeria ranks the highest in the world. There are nine other countries that spend over 40% on food. Four of them are in Africa including: Nigeria 56.4%; Kenya 46.7%; Cameroon 45.6%; and Algeria 42.5%. Four are in Asia: Kazakhstan 43.0%; Philippines 41.9%; Pakistan 40.9%; and Azerbaijan 40.1%. Guatemala is the only South American country to appear in the list and spends 40.6% of its household income on food.
The average Nigerian spends $1,132 per year on food. Considering that minimum wage in the country is barely $708 per year, we at Christian Maurice Consulting feels that a lot needs to be done to further drive food prices down. For us, it starts with making input products affordable to farmers and leveraging on technology to produce more and be more efficient.
Each item in our product range has been carefully selected and specially researched and formulated to bring the greatest benefits to farmers. In the end, our desired objective is to crash production prices. We believe that even at worst case exchange rate of N1,000 to the dollar, food prices in Nigeria have no basis being so high. Our commitment to the Nigerian consumer and farmer is without doubt the single most revolutionary step for food sufficiency in the country, backed by both the financial and technical competence to make this dream a reality