Market Intelligence

Nigerian Food Market News

Weekly intelligence from NBS, AFEX, WFP, CBN and leading Nigerian commodity desks — price movements, supply chain updates and policy changes affecting your market.

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15 articles

PRICE MOVEMENT

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.

ricebeansonionstomatoes+1 more
NBS
MARKET EVENT

Onitsha Main Market Partially Demolished — Traders Lose Livelihoods as Soludo Defies Court Order

Governor Soludo's administration began demolishing illegal structures at Onitsha Main Market on 1 March 2026, defying a High Court order maintaining the status quo until 16 March. Security operatives including military and NSCDC barricaded market access roads from midnight, catching many traders off-guard. The demolition targeted structures on Johnson Street and the Gwongworo section, affecting Marine Market, Biafra Market, Kano Street Market and several adjoining markets that rely on the Main Market for daily trade. The Igbo Community Association Abuja and private sector groups called for immediate reopening and resettlement of affected traders. The Onitsha Main Market is one of the largest wholesale commodity hubs in West Africa, handling rice, garri, tomatoes, palm oil and building materials from across Nigeria and neighbouring countries.

ricetomatoesgarripalm oil
Vanguard
GOVT POLICY

African Development Bank Approves $200 Million for Nigerian Agricultural Expansion

The African Development Bank approved a $200 million loan in February 2026 for the second phase of Nigeria's National Agricultural Growth Scheme — Agro-Pocket (NAGS-AP), with implementation beginning March 2026. The programme targets a 20% increase in rice output and a fivefold expansion in wheat production, alongside expanded access to climate-resistant seed varieties, crop insurance and fertiliser blends tailored to Nigerian soil conditions. The AfDB noted that agriculture employs 38% of Nigeria's workforce and contributes 25.2% of GDP but suffers from low productivity. The initiative will run for four years and prioritises youth and women farmers, with digital and climate-smart agriculture components.

ricemaizewheat
AfDB
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