Nigeria's food inflation drops to 8.89% in Jan 2026
Nigeria's food inflation rate fell to 8.89% year-on-year in January 2026, marking its first single-digit reading in 128 months and the lowest level in 174 months, according to the National Bureau of Statistics (NBS). This represents a sharp 20.73 percentage point drop from January 2025's 29.63% rate. On a month-on-month basis, food inflation contracted by 6.02% in January, compared with a 0.36% decline in December 2025. The NBS attributes the slowdown to declining prices of key staples including water yam, eggs, green peas, groundnut oil, and cassava tuber. This structural turning point ends 128 consecutive months of double-digit food inflation, following a peak of 40.87% in June 2024. Will this sustained disinflation trend affect your grocery budget or investment decisions?