Nigeria's Food Prices Surge Amid Falling Inflation Rates

In February 2026, Nigeria's headline inflation rate decreased to 15.06%, a 0.04% drop from January 2026. However, food prices have surged, with monthly food inflation rising to 4.69%, compared to 6.02% in January 2026.

This increase is attributed to higher average prices for commodities such as beans, carrots, cassava, and yam flour. Year-on-year, the general food inflation rate stands at 12.12%, which is significantly lower than the 26.98% recorded in February 2025.

The average annual food inflation rate for the twelve months ending February 2026 is 19.08%, down from 37.40% in the previous year. The highest food inflation rates by state are recorded in Kogi (26.91%), Adamawa (23.12%), and Benue (21.89%), while the lowest are in Katsina (5.09%) and Bauchi (7.09%).

The report indicates that despite the drop in headline inflation, food prices continue to rise, impacting consumers across the country.