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Tag: Food

Food startup Vendease moves to performance-based pay salary system
News

Food startup Vendease moves to performance-based pay salary system

Nigerian food procurement startup Vendease has overhauled its salary structure from traditional to performance -based after two layoffs in five months. The Y Combinator-backed company, which laid off 44% of its workforce—approximately 120 employees—last month in its second round of job cuts in five months, transitioned to a performance-based salary model, and replaced traditional pay […]

Top 10 most expensive foods in Nigeria for October 2024
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Top 10 most expensive foods in Nigeria for October 2024

In October 2024, Nigeria’s headline inflation rate rose to 33.88%, up from 32.7% in September, marking a 1.18 percentage point increase. According to the National Bureau of Statistics Consumer Price Index report, the rise in inflation can be largely attributed to increased transportation costs and higher food prices. This represents a significant economic challenge, as […]

N40,000 rice initiative targets public servants, others to follow
News

N40,000 rice initiative targets public servants, others to follow

The Federal Government has introduced a new initiative aimed at easing the burden on citizens. This program, which involves the sale of 50 kg bags of rice at a reduced price of N40,000, represents a strategic effort to combat the rampant food inflation affecting the country. The initiative is designed to prioritize public servants in […]

Healthy diet cost surges 32% in five months — NBS
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Healthy diet cost surges 32% in five months — NBS

In the face of a persistent rise in inflation, it has been proven that the cost of a Healthy Diet (CoHD) increased by 32% to N1,041 per adult per day in May 2024 from N786 in December 2023. This was disclosed by the National Bureau of Statistics yesterday in its CoHD report for May 2024, […]

32m Nigerians to face severe hunger - Report
News

32m Nigerians to face severe hunger – Report

The International Rescue Committee and its partners have released a report indicating that approximately 16% of Nigerians will experience severe food insecurity or hunger between June and August 2024. Compared to the previous year, this figure reflects a worsening situation, not only in Nigeria but also across West and Central Africa. The report highlights that […]

Global diary prices drop as food prices rise in April-FAO
News

Global diary prices drop as food prices rise in April-FAO

The global benchmark for food commodity prices witnessed an upward trend in April, and this driven by increases in meat prices, vegetable oils, and cereals, according to the Food and Agriculture Organization of the United Nations. The FAO Food Price Index, which monitors monthly shifts in the international prices of key globally traded food items, […]

10 Nigerian states with cheapest healthy diets
featured News

10 Nigerian states with cheapest healthy diets

As the cost of living continues to rise, access to affordable and nutritious food remains a pressing concern for households across Nigeria. The Cost of a Healthy Diet (CoHD) serves as a crucial measure in assessing the economic and physical accessibility of nutritious food options. According to data compiled by the National Bureau of Statistics […]

Food delivery startup Chowdeck raises $2.5m seed funding
News

Food delivery startup Chowdeck raises $2.5m seed funding

Nigerian startup offering on-demand delivery services, Chowdeck, has secured $2.5 million in seed funding. This investment, led by notable backers such as FounderX Ventures, True Culture Funds, Hoaq Fund, Levare Ventures, Haleakala Ventures, YCombinator, Goodwater Capital, and True Culture Funds, along with angel investors like Ayo Arikawe, Shola Akinlade, Ezra Olubi, Sudeep Ramani, Karthik Ramakrishnan, […]

31.5 million Nigerians at risk of food crisis - Report
News

31.5 million Nigerians at risk of food crisis – Report

Melvin Onwubuke   A new recent report by Cadre Harmonise reveals that no fewer than 31.5 million Nigerians are on the verge of food insecurity between June and August 2024. This is worsened by the removal of the fuel subsidy, affecting the macroeconomics through inflation in agricultural inputs and transport. The report noted that between […]

As regional groups across the country continue to condemn the hardship faced by citizens, attributed to the removal of fuel subsidy and the foreign exchange crisis which has led to food inflation and high transport cost.
Business News

FG, states meet over food crisis

By Melvin Onwubuke   As regional groups across the country continue to condemn the hardship faced by citizens, attributed to the removal of fuel subsidy and the foreign exchange crisis which has led to food inflation and high transport cost. According to The Punch, President Bola Tinubu, will hold an emergency meeting with state governors […]

Dapo Abiodun launches N5bn palliative for Ogun residents
Agribusiness

Ogun backs mass food production

The government of Ogun State has declared that it is taking steps to guarantee food production in large quantities in order to mitigate the impact of the present increased food costs. The PUNCH stated that the state commissioner for agriculture and food security, recently revealed this at a retreat for the management of the ministry […]