Nigeria’s imported food value index recorded an annual growth charge of 9.19% in September 2026, its slowest tempo since March, in accordance to calculations primarily based on the most recent National Bureau of Statistics (NBS) knowledge.
The index rose to 135.5 in September from 124.1 in the corresponding month of 2025, representing a year-on-year enhance of 9.19%. This was decrease than the 12.83% recorded in August and the current peak of 14.60% in May.
On a month-on-month foundation, the index elevated by 0.07% in September, slowing from 0.89% in August and 1.21% in July.
The moderation comes as Nigeria continues to spend closely on food imports, whereas issues over home agricultural manufacturing and family food safety persist.
Imported food inflation slows for 4 months
The newest figures present that annual growth in the imported food value index has eased since reaching 14.60% in May 2026. Although the index continued to rise, the tempo of annual growth slowed over the next 4 months.
The index additionally recorded a month-to-month enhance of simply 0.07% in September, suggesting that imported food costs have been comparatively steady in contrast with earlier months.
- Annual growth declined to 13.62% in June from 14.60% in May.
- It eased additional to 13.25% in July and 12.83% in August.
- The charge fell to 9.19% in September, in contrast with 7.20% in March.
- The index elevated from 120.0 in January 2026 to 135.5 in September, displaying that the slowdown in inflation didn’t imply imported food costs had fallen general.
The figures point out that imported food costs continued to rise over the 12 months, however at a slower charge than earlier in 2026.
Nigeria’s food import invoice stays excessive
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 primary half of 2026, with expenditure rising sharply in the second quarter.
Nigeria’s reliance on imported food stays a priority as households face stress over food affordability and policymakers search to strengthen home manufacturing.
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 going through family entry to food.
Nairametrics additionally reported that Nigeria may face a extreme food disaster in 2026 as rising manufacturing prices, insecurity and post-harvest losses threaten agricultural output. Farmers, significantly in the North-Central and North-West, have been reported to be contemplating leaving the sector due to these challenges.
Food inflation eases as headline charge falls
Nigeria’s headline inflation charge eased to 14.63% in September 2026, down from 15.39% in August, extending the nation’s disinflation pattern for a fourth consecutive month.
According to the NBS, food inflation stood at 19.59% year-on-year in September, in contrast with 20.16% in September 2025. On a month-on-month foundation, food inflation fell to -1.55% from 1.02% in August, a decline of two.57 proportion factors.
The imported food value index supplies a separate measure of value actions in imported food merchandise. Its slower annual growth coincides with the decline in headline and month-to-month food inflation, though the figures don’t set up that each one food objects have turn out to be cheaper for shoppers.
