Prices of Food and Goods Continue to Drop Across Nigeria
By Patience Ikpeme
Nigerians can breathe a bit easier as the cost of living continues to drop across the country. According to the latest data released on Monday by the National Bureau of Statistics (NBS), the inflation rate for January 2026 has fallen to 15.1 percent.
This new figure is a slight improvement from the 15.15 percent recorded in December 2025. While the drop between December and January seems small at 0.05 percent, the bigger picture shows a massive change from last year. In January 2025, inflation was at a very high 27.61 percent, meaning the rate has crashed by more than 12 percent within just one year.
The report brings even better news regarding food prices. The data shows that food inflation for January 2026 stood at 8.89 percent, which is a huge difference from the 29.63 percent recorded in January 2025. This means that compared to the same time last year, the speed at which food prices were rising has slowed down significantly.
The NBS pointed out that the prices of many common food items actually went down during the month of January. Families likely noticed a decrease in what they pay for things like water yam, eggs, green peas, groundnut oil, and soya beans. Other items that became cheaper include palm oil, maize, guinea corn, beans, beef, melon seeds (Egusi), cassava tubers, and white beans.
However, the report shows that the cost of things is not the same in every part of the country. If you live in Benue, Kogi, or Abuja, you are likely feeling the pinch more, as these places recorded the highest inflation rates. On the other hand, residents of Ebonyi, Katsina, and Imo enjoyed the lowest rise in prices over the past year.
When looking at just the month of January alone, some states saw prices drop even further. Places like Cross River, Ogun, and Kogi actually saw a decline in the general cost of items during the month. For food specifically, Yobe, Nasarawa, and Sokoto saw the biggest drops in prices between December and January.
The NBS explained that the average food inflation for the whole year ending in January 2026 was about 20.29 percent. This is much lower than the 38.47 percent average recorded for the previous year, showing a steady move toward more affordable prices for many Nigerian households.
