Nigeria’s Food Inflation Falls to Single Digits, Boosting Confidence in the Food Industry

Nigeria’s food sector is showing encouraging signs of recovery as food inflation has dropped to single digits for the first time in more than a decade. The latest Consumer Price Index data shows food inflation falling to 8.89% in January 2026, marking the first single-digit reading since 2015 and the lowest level recorded in over 14 years.

The significant decline reflects improving conditions in Nigeria’s food supply chain and signals growing stability in one of Africa’s largest consumer markets.

Stronger Supply and Policy Support Driving Change

Several factors have contributed to the easing of food prices. Improved harvests across key agricultural regions, government import waivers on selected food items, and a more stable exchange rate have helped increase supply and reduce pressure on food prices. 

As supply improves and logistics bottlenecks ease, analysts expect Nigeria’s food market to continue stabilising, offering greater opportunities for producers, distributors, retailers, and international suppliers. The drop in inflation represents a major turnaround from the price spikes seen in recent years, when food inflation climbed above 29% in 2025 and peaked at over 40% during earlier supply shocks. 

As Africa’s most populous nation, Nigeria plays a critical role in shaping the continent’s food and beverage industry. With a population of more than 220 million people and a rapidly expanding consumer market, the country continues to attract investment from international food manufacturers, suppliers, and distributors.

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Source: Business Day, Febuarary 2026

Source: Nigeria’s Food Inflation Falls to Single Digits, Boosting Confidence in the Food Industry