Nigeria’s Food Inflation Drops to 14-Year Low in January

By 𝔸bdulrazak Tomiwa

Nigeria’s food inflation plunged to 8.89% in January 2026, the lowest level in 14 years. NBS data shows this is the first time the rate has hit single digits since August 2011, signaling a major shift after a decade of high staple prices.

The decline was driven by price drops in essentials like eggs, maize, water yams, and various cooking oils. These reductions also helped pull the national headline inflation rate down slightly to 15.10% from December’s 15.15%.

CPPE CEO Muda Yusuf described the trend as “real disinflation” that strengthens consumer purchasing power.

He noted that this shift could lead to more stable interest rates and a more favorable environment for long-term private investment.

Despite the relief for consumers, Yusuf warned that falling prices could hurt farmers’ incomes and discourage future production. He urged the government to balance affordability with producer sustainability to avoid future food supply shortages.

Experts believe this January report marks a transition toward macroeconomic stability. However, they emphasize that protecting agricultural livelihoods is essential to ensuring these economic gains result in durable, inclusive growth for the country.