By Emmanuel Enitan
Nigeria’s imported food price growth slowed to 9.19 per cent in September 2026, its lowest level in six months, offering a modest sign of easing price pressures even as the country continues to rely heavily on foreign food supplies amid persistent affordability concerns.
The imported food price index rose to 135.5 points in September from 124.1 points in the corresponding period of 2025, representing year-on-year growth of 9.19 per cent, compared with 12.83 per cent in August and a recent peak of 14.60 per cent in May.
The figures, calculated from the latest National Bureau of Statistics (NBS) data, indicate that annual price growth has slowed for four consecutive months since May. However, the moderation does not mean imported food has become cheaper overall, as the index remains above its level a year earlier.
On a month-on-month basis, the imported food price index rose marginally by 0.07 per cent in September, compared with 0.89 per cent in August and 1.21 per cent in July, suggesting that the pace of increases eased considerably during the month.
The slowdown coincided with a moderation in Nigeria’s broader inflation rate. Headline inflation declined to 14.63 per cent in September from 15.39 per cent in August, according to the NBS. Annual food inflation, however, stood at 19.59 per cent, while the food index recorded a month-on-month decline of 1.55 per cent.
The different movements highlight the distinction between imported food prices and the wider food basket, which also reflects locally produced commodities, transportation, storage and distribution costs.
Despite the slower increase in imported food prices, Nigeria’s dependence on foreign supplies continues to place pressure on demand for foreign exchange. The country spent $1.19 billion on food imports in the first half of 2026, up 11.41 per cent from $1.07 billion in the corresponding period of 2025, according to an analysis of Central Bank of Nigeria data.
The sustained import bill raises questions about the pace of domestic agricultural production and the country’s capacity to reduce exposure to external prices, exchange-rate movements and other costs associated with bringing food into the country.
For households, slower price growth may not immediately translate into meaningful relief at markets, particularly where the prices of essential food items remain elevated. Businesses involved in food processing, distribution and retail may also continue to face pressure from procurement and operating costs.
The September figures therefore point to a deceleration in imported food price growth rather than a broad decline in food prices. The extent to which the trend improves affordability will depend on how it is sustained and whether stronger domestic production can help moderate the cost of food across the supply chain.
