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Food inflation

Finance & Economy·News·Nigeria·Top Stories

Cut Import Tariffs , Lift Bans To Tame Inflation, Reduce Poverty – World Bank to Nigeria

November 27, 2025

The World Bank has urged the Federal Government to urgently slash high import tariffs and lift select import bans as part of immediate measures to curb soaring inflation and rising poverty across

Business News

10 Nigerian States With Highest Food Inflation In June 2025

July 17, 2025

Nigeria’s inflation rate has been on a downward trend for the third consecutive month. The Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Wednesday shows that

Business News

Three States In Nigeria With Highest Food Prices

May 17, 2025

High food prices in Nigeria have become a major economic and social challenge, driven by a combination of factors including inflation, supply chain disruptions, currency depreciation, and structural issues in agriculture. The

Business News

Pot Of Jollof Rice Now Above ₦25,000 – Report

April 25, 2025

In Nigeria, the average cost of cooking a pot of jollof rice for a family of five has increased from ₦21,300 in September 2024 to ₦25,486 as of March 2025, a nearly

Business News·Finance & Economy

Nigerian Govt Mulls Zero Interim Import Duty On Selected Food Items

September 11, 2024

The Nigerian Government has proposed a temporary zero-duty levy on selected food imports, as part of measures to reduce food prices and alleviate the burden of inflation on the citizens. Minister of

Business News·News

Inflation Pressure Hit Nigerian Business Activity, Dropping to 8-Month Low

August 12, 2024

Inflation Triggers Business Decline in Nigeria Nigeria’s business landscape faced a notable setback in July as inflation pressure led to a steep decline in business activity. The latest Purchasing Managers’ Index (PMI)

Business News·FEATURES

High Food, Drug Costs, Push Nigerians Into Healthcare Dilemma

August 10, 2024

The high cost of drugs in Nigeria has become a pressing issue in recent times as prices continue to rise unabatedly, even as the people equally grapple with high food prices. Just

News

Nigerian Govt’s Suspension Of Taxes On Food Imports Will Stabilise Prices – NACCIMA

July 9, 2024

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), has commended the decision of the Nigerian government to suspend taxes on the importation of key food commodities, noting that

Business News·News

Food Inflation Crisis: Nigerian Govt Approves N2trn Package, Suspends Duty On Rice, Wheat, Others

July 9, 2024

In response to the escalating food inflation crisis, the Federal Government has approved an intervention plan to stabilise and advance the country’s food security. Minister of Agriculture and Food Security, Abubakar Kyari,

Nigeria's Inflation Rate Hits 33.88% In October Amid Fresh Fuel Price Spike

Finance & Economy

Food Prices Remain Major Contributor To Nigeria’s High Inflation

June 16, 2024

As Nigeria's inflation rate continues to surge, high food prices has remained a major contributor to it.

NACCIMA Boss, Oye, To Chair Vanguard Economic Summit 2025

Business News·News

Implications Of Naira Devaluation Multifaceted, NACCIMA Tells Governors

March 12, 2024

NACCIMA president, Dele Kelvin Oye, has said that while the immediate effect of the devaluation of the naira on exports may be positive, the broader implications of a persistent devaluation are multifaceted

News

Hunger Crisis: Looting Food Items From Government Warehouse Sign Of Impending Revolution – Shehu Sani

March 4, 2024

Senator Shehu Sani, has reacted to the reported cases of Nigerians in some parts of the country breaking into warehouses and looting foodstuffs amid growing hunger as a result of high cost

News

We Can’t Eat Snacks Anymore, UNN Students Lament Soaring Prices Of Doughnut, Meatpie, Cakes, Others

February 12, 2024

Students of the University of Nigeria Nsukka have expressed their distress over the soaring prices of snacks, which they claim they can no longer afford. The once affordable treats like egg rolls,

Nigerian Govt Must Prioritise Investment In Agriculture To Boost Economy – Experts

Agro-Economy·Business News

High Food Costs: Only Targeted Govt Intervention To Boost Production Can Save Nigeria – Lawmaker

February 8, 2024

As the costs of items and other things continue to rise in Nigeria, the Federal Government has been advised to take concrete actions to address to and save the citizens from excruciating

Maintaining Healthy Diet For Nigerians Surge From N703 To N786- NBS Reveals

Business News·News

Cost Of Maintaining Healthy Diet In Nigeria Surges To N786 – NBS

February 2, 2024

The National Bureau of Statistics (NBS) disclosed yesterday that the average cost of maintaining a healthy diet for Nigerian adults has surged from N703 in October to N786 in December 2023. The

Agro-Economy·Business News

AFEX Predicts Higher Prices For Maize, Rice In Nigeria 2024

January 25, 2024

AFEX, a leading commodities market player, has projected an increase in maize and paddy rice prices by 25% and 40%, respectively, within Nigeria this year.

Nigeria Week Ahead: Inflation, Naira and Oil In Focus

Finance & Economy

Experts Urge Nigerian Govt To Adopt Multi-sectoral Approach In Tackling Inflation

January 16, 2024

Economic experts have called on authorities to adopt a multi-sectoral approach in tackling high inflation in Nigeria.

Christmas: Nigerians Slash Budget For Rice, Other Items As Costs Hit Harder

Agro-Economy·Business News

Local Rice Prices Skyrocket By 73.2% Despite Govt Support, Farmers Dispute Inflation Figures

January 4, 2024

The price of locally produced rice in Nigeria has surged by a 73.2% in just one year, despite efforts by the Central Bank of Nigeria to bolster the rice value chain. This

Business News·News

Nigeria’s Food Inflation Hits 31.5% With Headline Rate At 27.3% In October

November 15, 2023

Consumer Price Index (CPI) for October 2023 released by the National Bureau of Statistics (NBS) on Wednesday has it that Nigeria’s headline inflation rate surged by a 0.61 percentage point from the

Business News

Petrol Subsidy Removal, Inflation Fingered As Acute Food Shortage Stares 26.5 million Nigerians

November 3, 2023

If nothing is urgently done to address the identified root causes, no fewer than 26.5 million Nigerians including Internally Displaced Persons (IDPs) will suffer acute food insecurity between June and August next

Business News·News

Rising Food Prices Squeeze Budgets, Stir Concerns Among Nigerians

October 3, 2023

As food prices in Nigeria continue the relentless climb, latest data from the National Bureau of Statistics (NBS) reveals alarming spike in cost of essential items, leaving many struggling to afford basic

Food Prices Remain High In Nigeria As Beans, Rice, Yam Take The Lead

Business News

Rising Food Prices Leave Nigerian Sellers Desperate For Solutions

August 26, 2023

By Deborah Chidinma Chibuife Nigerians are grappling with an alarming surge in food prices. Staple foods like rice, yam, tomatoes, and beef have seen steep price hikes, exacerbated by the compounding effects

Tinubu Sets Up Committee To Tackle Flood Crisis

Business News

FG To Prosecute Traders Increasing Food Prices

July 19, 2023

The Federal Competition and Consumer Protection Commission (FCCPC), an agency of the Federal Government, has warned trade associations against hiking food prices. FCCPC made the warning after the National Bureau of Statistics

Buhari's 8years in Office: No Better Way To Squander Goodwill

Business News·Insights

Updated: At 21.34%, Nigeria’s Inflation Sees First Drop In 11 Months

January 16, 2023

The National Bureau of Statistics (NBS) has disclosed that inflation rate eased to 21.34 per cent in December 2022, down from 21.47 per cent recorded in November last year. According to the

FG Struggling To Borrow, As Foreign Investors Prefer US, Germany, Others

Business News

Updated: Nigerians Face More Hardship, As Inflation Hits 21.09% In October

November 15, 2022

Nigeria’s headline inflation hit 21.09 per cent in October 2022, rising from the 20.77 per cent reported in September. This indicates Nigerians are facing high cost of living in Africa’s largest economy.

10 Nigerian States With Highest Food Inflation In June 2025

Business News

Kwara Leads States With Highest Food Inflation In Nigeria For September

October 18, 2022

The National Bureau of Statistics (NBS) has released the top three states with highest food inflation rate, as the country records 23.34% rate in September 2022, rising from the 23.12% recorded in

PWC Raises Concern About Traders, FIRS’ VAT Direct Initiative

Business News

Inflation Rate: Bread, Fish, Gas, Other Prices Increasing Cost Of Living In Nigeria

September 16, 2022

The cost of living in Nigeria skyrocketed last month when food inflation hit its highest rate in almost 17 years in August, after rising to 23.12%, with Nigeria’s inflation rate surging to

News·Africa

Food Inflation: South Africa Suspends Anti-Dumping Duties For Frozen Chicken Imports

August 3, 2022

Citing food inflation, The government of South Africa through the Ministry of Trade & Industry has suspended the imposition of anti-dumping duties on chicken imports from Brazil and four European Union countries

News·Uncategorized

New Report Explains Food Inflation Using Pot Of Jollof Rice

July 27, 2022

Nigerians are running out of coping mechanisms to deal with the incessant increase in the cost of Jollof rice ingredients, said strategic intelligence firm, SB Morgen (SBM). You would note that

Business News·Markets

Yam, Meat, Other Food Prices Soar, As Nigeria’s Inflation Rate Hits 5-year Highest Cost Of Living

July 15, 2022

Food prices in Nigeria skyrocketed by 5.6% in June, as Nigeria’s inflation soared to 18.6%, the highest level in five years, reflecting the government’s inability to curb rising cost of living in

Business News·News

How 17.71% New Inflation Rate Affects Nigerians

The inflation rate in Nigeria hit 17.71% in May 2022, the highest in 11 months, rising from 16.82% recorded in April, according to new report released by the National Bureau of Statistics (NBS) on Wednesday. The monthly report titled, Consumer Price Index

June 15, 2022

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