News in brief:
– Food prices in Nigeria have stabilised in 2025, with slight declines in staples like sorghum and minimal changes across other key items, offering relief after the sharp inflation of 2024.
– This trend signals hope for consumers, farmers, and entrepreneurs, as a more predictable market supports better nutrition, investment, and growth across the food value chain.
The prices of several staple food items in Nigeria dropped slightly last week, offering some relief to households as government interventions continue to ease food inflation pressures.
According to the latest food tracker by the National Bureau of Statistics (NBS), sorghum recorded the most significant decline at 2%. The grain, widely consumed in the northern region as kunu or fermented pancakes, is now cheaper on a year-to-date basis.
Other key staples such as imported and local rice, white and yellow maize, brown and white beans, yam, garri, and soya beans have also remained largely stable throughout 2025. This signals a more restrained pricing environment compared to the volatility experienced in 2024, when prices of essential foods doubled within months.
Last year’s surge severely impacted household purchasing power, forcing many families to reduce their intake of nutritious meals or cut back on other basic needs. Beans, rice, eggs, yams, and garri saw increases of over 100% by the end of 2024, creating widespread concern over food security and affordability.
However, with the first half of 2025 nearing completion, there is cautious optimism. If Nigeria maintains its current policy stability, curbs insecurity, and avoids market shocks, food prices may continue their modest and predictable path.
Producers of consumer goods are also benefiting. As the prices of agricultural commodities stabilise, manufacturers have greater flexibility to keep prices steady, or potentially lower them, especially for packaged and processed foods.
Commodity market data from AFEX last week showed minor, single-digit price increases for items like soybeans, paddy rice, and cocoa. Year-to-date, most tracked commodities remain cheaper, with cashew being the only exception, rising over 36% in value since January.
Why This Matters
For Nigerian consumers, the slowdown in food inflation offers a glimmer of hope for better nutrition and more affordable meals. For farmers, stable commodity prices can encourage planning and investment without the fear of extreme price crashes. And for entrepreneurs and food businesses, a predictable market creates room for growth, innovation, and value addition.
As food prices stabilise, the potential for long-term economic benefits across the agricultural value chain becomes more realistic, unlocking opportunities for better livelihoods, stronger supply chains, and improved national food security.
