9 results for “Food Prices”
The World Bank projects a further 7 percent rise in global food prices in 2027 after an estimated 10 percent increase in 2026, deepening pressure on Nigerian households.
The short-term plan targets production, transport and market bottlenecks, but structural food insecurity will require longer-term investment.
Maize fell to N319.93/kg below the N350/kg GMP as harvest supply pressures mount.
Nigeria's headline inflation fell to 14.63% in September, the lowest since October 2020, driven by easing food prices even as core inflationary pressures continued to build in parts of the services economy.
Nigeria's imported food price growth slowed to 9.19 per cent year on year, the weakest pace in six months, as exchange rate stability and softer international food costs reduced pressure on imported staples.
Nigeria's agriculture sector grew 4.39% in the second quarter of 2026, its strongest momentum since 2021, the Federal Government said at World Food Day.
Headline inflation eased to 14.63% in September 2026 from 15.39% in August as food prices retreated, but the National Bureau of Statistics reported that core and urban price pressures picked up, complicating the outlook for further rate cuts.
The NBS said headline inflation dropped to 14.63% in September from 15.39% in August, with month-on-month food prices falling 1.55% and core inflation at 12.95% year-on-year.
Analysts project headline inflation near 15.5% as disinflation continues, though high oil prices and sticky food costs keep the single-digit target at a distance.