Economist, Residents React As Oyedele Says Households Spend 120% Of Income On Food

By BUKOLA ARO-LAMBO and DEBORAH BELLO, Lagos
Claims by the minister of finance and coordinating minister of the economy, Taiwo Oyedele, that some households spend as much as 120 per cent of their income on food have drawn mixed reactions from Nigerians, with an economist and residents split on the figure but united on the pressure of rising food prices.
Oyedele who spoke at Chatham House in London, said a government survey showed that some households spend more than they earn on food, forcing them to borrow.
“In fact, there was a survey we did that shows that up to 120 per cent of household income is spent on food. Like how do you spend 120 per cent of your income? You borrow food ...