Nigeria Economic Update, Issue 13

According to the National Bureau of Statistics’ (NBS) Selected Food Price Watch report for February 2026, the average price of brown beans (1 kg) stood at ₦1,307.44, reflecting a 46.98 percent year-on- year (YoY) decline from ₦2,465.96 in February 2025 but a 3.57 percent month-on-month (MoM) rise from January 2026. Similarly, the price of locally produced rice (1 kg) averaged ₦1,858.93 in the month under review, an 11.01 percent YoY drop from ₦2,088.82, though it increased 0.93 percent MoM from ₦1,841.83 in January. The price of garri (white, 1 kg sold loose) averaged ₦790.62, down 38.10 percent YoY but up 2.42 percent from January 2026. Likewise, the average prices of tomatoes (1 kg, sold loose) fell 3.03 percent YoY to ₦1,077.43 yet rose 5.15 percent MoM. Similarly, the average price of small white crayfish (1 kg) surged 36.41 percent YoY to ₦8,785.16, while also increasing 1.44 percent MoM. Across states, Oyo recorded the highest average price for brown beans (1 kg) at ₦1,924.61, while Taraba had the lowest at ₦700.00. Kogi reported the highest average price for locally produced rice (1 kg) at ₦2,167.92, compared with ₦1,544.78 in Bauchi. Abia recorded the highest average price for garri white (1 kg) at ₦1,071.37, while Bauchi had the lowest at ₦500.00. Edo State saw the highest average tomato (1 kg) price at ₦1,470.30, versus ₦694.68 in Kaduna. The observed price dynamics and interstate disparities point out the urgent need for coordinated policy interventions, particularly in addressing insecurity in key food-producing regions, which continues to disrupt agricultural output, supply chains, and rural livelihoods. Strengthening transport and logistics infrastructure, expanding storage and processing facilities, and improving farmers’ access to inputs and credit would reduce post-harvest losses and stabilise prices across regions and mitigate inflationary pressures, Output, supply chains, and rural livelihoods.

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