Nigeria’s Imported Food Inflation Slows to 9.19% in September

Nigeria’s imported food inflation slowed to 9.19 per cent in September 2026, its lowest level in six months, as monthly price increases eased significantly.

The imported food price index rose to 135.5 in September from 124.1 in the corresponding month of 2025, according to calculations based on the latest National Bureau of Statistics (NBS) data.

The annual growth rate fell from 12.83 per cent in August and the recent peak of 14.60 per cent recorded in May.

On a month-on-month basis, the index increased by just 0.07 per cent in September, down from 0.89 per cent in August and 1.21 per cent in July.

The figures indicate that imported food prices continued to rise over the year, but at a slower pace than in previous months. The slowdown, however, does not necessarily mean that imported food has become cheaper for consumers.

Annual growth in the index has declined steadily since May, falling to 13.62 per cent in June and 13.25 per cent in July before reaching 12.83 per cent in August.

Despite the moderation, the index climbed from 120.0 in January to 135.5 in September, indicating that the overall price level remained higher.

The development comes as Nigeria continues to spend heavily on food imports amid concerns about domestic agricultural production, food affordability and household food security.

A report by Nairametrics said Nigeria spent N3.30 trillion on food and beverage imports in the first half of 2026, with expenditure rising sharply in the second quarter.

The country’s reliance on imported food remains a concern as households contend with high living costs and policymakers seek to strengthen local agricultural production.

The Food and Agriculture Organisation (FAO) of the United Nations has warned that about 34.7 million Nigerians could face severe food insecurity during the next lean season.

Insecurity, rising production costs and post-harvest losses also threaten agricultural output. These challenges have raised concerns about food supplies, particularly in parts of the North-Central and North-West, where some farmers have considered leaving the sector.

Meanwhile, Nigeria’s broader inflation figures also showed signs of easing in September.

The NBS reported that headline inflation declined to 14.63 per cent in September from 15.39 per cent in August, extending the disinflation trend for a fourth consecutive month.

Food inflation stood at 19.59 per cent year-on-year in September, compared with 20.16 per cent in September 2025.

On a month-on-month basis, food inflation fell to minus 1.55 per cent in September from 1.02 per cent in August, a decline of 2.57 percentage points.

The imported food price index provides a separate measure of price movements in imported food products. Its slower annual growth coincided with the easing of headline and monthly food inflation.

However, the figures do not establish that all food items have become cheaper. Exchange-rate movements, transportation costs, import prices and domestic production conditions will continue to influence the prices consumers pay in the market.