Jollof rice prices drop 11.5% in Nigeria, households still struggle

In the third quarter of 2026, the average cost of preparing a pot of jollof rice in Nigeria fell by 11.5%, the sharpest quarterly reduction in a decade, according to the October 2026 Jollof Index report by SBM Intelligence. The cost decreased by N3,400, from N29,578 in June to N26,178 in September, due to lower prices for chicken, beef, vegetable oil, and other ingredients.

However, the report indicated that this decline has not provided significant financial relief for households, as food prices remain high compared to previous years. The September figure is still 5.8% above the same period in 2025 and 540% higher than the N4,087 recorded in July 2016.

The report also noted a data collection error affecting curry and thyme prices, adjusting the actual reduction to 8.5%. Regional variations were significant, with Lagos experiencing a 35.6% decline, while Port Harcourt saw a 2.6% increase due to flooding and transportation issues.

Despite lower prices, many households reported unchanged incomes, limiting their purchasing power.