Nigeria Food Inflation Hits 10-Year Low at 8.89% — NBS January 2026 Report

The National Bureau of Statistics released its January 2026 Selected Food Price Watch showing food inflation fell to 8.89%, the first single-digit reading since May 2015. Local rice dropped 10.94% year-on-year to ?1,841.83/kg, while brown beans plunged 48.65% to ?1,262.43/kg. Onions declined 17.87% and tomatoes eased 5.25% annually. Economists attribute the moderation to naira stability, post-harvest supply and government import waivers, though analysts warn the trend depends on exchange rate stability and farmer confidence in the 2026 planting cycle.