Food inflation: Average price of meals in Lagos restaurants hits N7,221

By Chinelo Obogo

Amid the increase in food inflation, the average price of a meal in Lagos restaurants has hit N7, 221, an increase of 53 percent, according to Orda Africa, a cloud-based restaurant management platform. The company analysed real-time data captured between January and September 2024, sourced from various restaurant types, including high-end establishments and local bukkas, numbering 1,075 across the 20 local government areas in Lagos, Nigeria.

The data shows that the average price of a meal for restaurants using Orda in 2024 stands at N7,221 compared to the 2023 average of N4,703 and the 2022 average of N4, 640. The sharp rise reflects the growing impact of economic pressures on meal prices, highlighting the challenges restaurants face in maintaining affordability while covering increasing operational costs, the company said.

In Nigeria, the food ordering trends on Orda also  reveal a strong preference for proteins and grains, with the majority of orders for proteins and grains and cereals, highlighting the prominence of meat and staple foods in the local diet. Beverages and vegetables also show significant popularity. In contrast, there’s a notably lower demand for legumes, nuts, sweets, and fruits, indicating either occasional consumption or different purchasing habits for these items.

The data reveals that, 60.7% of total orders are placed between 11am and 5pm, with the lunchtime peak occurring at 1pm. This time frame represents the busiest period for restaurants, driven largely by delivery and pick-up orders. Evening orders between 6pm and 8pm account for 18.6%, maintaining moderate activity before tapering off. Late-night and early-morning orders, spanning from 9pm to 6am contribute a minimal 3.7%, highlighting clear off-peak hours where demand is significantly lower.  The company said this distribution emphasises the need to prioritise resources during midday and early evening to maximise operational efficiency and revenue.

The data also showed that digital transactions remain the dominant payment method in Nigeria in 2024, now accounting for 73.1% of all payments, up from 65% in 2023. Cash payments, while still significant, have declined to 26.9%, reflecting a continued shift towards the convenience and security of digital options. This trend reinforces the increasing reliance on digital methods in the ordering process.

In the most popular menu items, beef has climbed to the top spot, overtaking jollof Rrce, which now ranks second. Water remains a staple in third place. Notably, Amala has entered the top five, pushing out items like goat meat and turkey from 2023’s list. The rise of more traditional meals like amala and beans indicates a shift in customer preferences.

In 2024, pick-up emerged as the most popular fulfillment method, accounting for 56.08% of all orders. Delivery followed with 39.38%, indicating a strong demand for off-premises dining. Dine-in, on the other hand, saw a significant decline, making up just 4.54% of total orders. This shift highlights a growing preference for convenience, with customers increasingly opting for pick-up and delivery options over dining at the restaurant.