Dealers Quote New Prices For Rice, Beans, Garri, Other Items Amid Rising Food Inflation
- Food inflation in Nigeria rose to 12.12% in February, reversing January's relief
- Overall inflation slightly eased to 15.06%, defying usual trends and causing pains to millions of households
- Regional disparities in food inflation rates persist, with Kogi at 26.91% and becoming the state with highest food prices
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Food sellers across Nigeria are adjusting prices of staple items such as rice, beans, garri and yams following a renewed rise in food inflation reported by the National Bureau of Statistics (NBS).
The latest inflation report released on Monday shows that food inflation increased to 12.12 per cent in February 2026, reversing the brief relief Nigerians experienced in January when the rate dipped into single digits.
Source: Getty Images
Despite the rise in food costs, overall inflation in the country eased slightly, highlighting the complex dynamics currently shaping consumer prices in Africa’s largest economy.
NBS explains drivers of rising food prices
According to the NBS, the increase in food inflation was driven largely by rising prices of major staples that form the core of Nigerian diets.
Items such as cassava products, beans, yam, and crayfish recorded noticeable price increases in markets across the country during the period under review.
The statistics agency said the year-on-year food inflation rate of 12.12 percent in February 2026 represents a sharp decline compared with the 26.98 percent recorded in February 2025, reflecting some moderation in price pressures over the past year.
However, on a month-on-month basis, food inflation climbed 0.80 per cent, marking the first monthly increase in more than three months.
Headline inflation edges lower
Interestingly, the surge in food prices did not push overall inflation higher in February.
Headline inflation eased slightly to 15.06 per cent, down from 15.10 per cent recorded in January, breaking the usual pattern where food inflation typically drives the broader inflation rate upward.
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A breakdown of the inflation components showed varied price movements across sectors:
- Food and non-alcoholic beverages: up 6.03 per cent year-on-year
- Housing, water, electricity, gas and other fuels: up 1.27 per cent Transport: increased by 1.61 per cent
- Restaurants and accommodation services rose by 1.95 per cent
- Health: climbed by 0.91 per cent
Economists say the slight easing in headline inflation may reflect improved currency stability and gradual supply adjustments in some sectors of the economy.
Market survey shows mixed price movements
A market survey conducted by BusinessDay indicates that food prices across several markets have remained relatively stable since the start of the year, even though inflation data shows some renewed pressure.
Traders say prices of rice, beans, garri and other essentials have fluctuated slightly depending on supply levels, transportation costs, and seasonal factors.
Many dealers noted that while prices have not spiked dramatically in recent weeks, they remain significantly higher than levels seen two years ago.
Global risks could push prices higher
Experts warn that global developments could still push food prices upward in the coming months.
Analysts point to the expanding geopolitical tensions between Iran and the United States, which could disrupt global oil supply and push crude prices higher.
A spike in oil prices typically raises transportation and logistics costs in Nigeria, which then filters into the cost of food and other consumer goods.
States with the highest food inflation
The NBS data also revealed significant differences across states.
Kogi recorded the highest food inflation rate at 26.91 per cent, followed by Adamawa at 23.12 per cent and Benue at 21.89 per cent.
On the other hand, Katsina, Bauchi and Imo recorded the slowest increases in food prices, with inflation rates of 5.09 per cent, 7.09 percent and 7.65 per cent, respectively.
Source: Getty Images
For millions of Nigerian households already battling rising living costs, even small increases in staple food prices continue to strain daily budgets, keeping food affordability a central economic concern.
Nigeria’s food inflation hits 10-year low
Legit.ng earlier reported that Nigeria has recorded its lowest food inflation rate in a decade, offering long-awaited relief to millions of households battling high living costs.
According to the National Bureau of Statistics (NBS), food inflation fell sharply to 8.89% in January 2026, marking the first single-digit reading since May 2015, when it stood at 9.78%.
The new figure aligns with projections by analysts who had predicted a cooling in food prices ahead of the official data release.
Source: Legit.ng
