“Nigerians Now Spend 120% Of Their Income On Food” — Finance Minister Taiwo Oyedele

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has revealed that some Nigerian households spend as much as 120 per cent of their income on food, forcing them to borrow or depend on relatives to survive.Speaking at Chatham House in London, Oyedele cited a government survey showing that food expenses exceed the total income of some households.