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Nigeria’s imported food price index recorded an annual growth rate of 9.19% in September 2026, its slowest pace since March, according to calculations based on the latest National Bureau of Statistics (NBS) data.
The index rose to 135.5 in September from 124.1 in the corresponding month of 2025, representing a year-on-year increase of 9.19%. This was lower than the 12.83% recorded in August and the recent peak of 14.60% in May.
On a month-on-month basis, the index increased by 0.07% in September, slowing from 0.89% in August and 1.21% in July.
The moderation comes as Nigeria continues to spend heavily on food imports, while concerns over domestic agricultural production and household food security persist.
Imported food inflation slows for four months
The latest figures show that annual growth in the imported food price index has eased since reaching 14.60% in May 2026. Although the index continued to rise, the pace of annual growth slowed over the following four months.
The index also recorded a monthly increase of just 0.07% in September, suggesting that imported food prices were relatively stable compared with earlier months.
- Annual growth declined to 13.62% in June from 14.60% in May.
- It eased further to 13.25% in July and 12.83% in August.
- The rate fell to 9.19% in September, compared with 7.20% in March.
- The index increased from 120.0 in January 2026 to 135.5 in September, showing that the slowdown in inflation did not mean imported food prices had fallen overall.
The figures indicate that imported food prices continued to rise over the year, but at a slower rate than earlier in 2026.
Nigeria’s food import bill remains high
The moderation in imported food inflation comes amid substantial spending on food and beverage imports. Nairametrics earlier reported that Nigeria spent N3.30 trillion on food and beverage imports in the first half of 2026, with expenditure rising sharply in the second quarter.
Nigeria’s reliance on imported food remains a concern as households face pressure over food affordability and policymakers seek to strengthen domestic production.
The United Nations Food and Agriculture Organization (FAO) has warned that about 34.7 million Nigerians could face severe food insecurity during the next lean season, highlighting the challenges facing household access to food.
Nairametrics also reported that Nigeria could face a severe food crisis in 2026 as rising production costs, insecurity and post-harvest losses threaten agricultural output. Farmers, particularly in the North-Central and North-West, were reported to be considering leaving the sector because of these challenges.
Food inflation eases as headline rate falls
Nigeria’s headline inflation rate eased to 14.63% in September 2026, down from 15.39% in August, extending the country’s disinflation trend for a fourth consecutive month.
According to the NBS, food inflation stood at 19.59% year-on-year in September, compared with 20.16% in September 2025. On a month-on-month basis, food inflation fell to -1.55% from 1.02% 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 coincides with the decline in headline and monthly food inflation, although the figures do not establish that all food items have become cheaper for consumers.
