Mixed reactions as NBS reports drop in food inflation

Some stakeholders have expressed diverse reactions to the January inflation figures released by the National Bureau of Statistics (NBS), which showed a drop in food inflation to 8.89 per cent.

Some residents of the Federal Capital Territory (FCT), who spoke with the News Agency of Nigeria (NAN) in Abuja on Tuesday, described the decline as a welcome relief after years of high food prices.

They said the drop had begun to be reflected in the prices of some staple foods, while calling for sustainability.

NAN reports that the Consumer Price Index (CPI) report released on Monday showed that the food inflation rate in January dropped to 8.89 per cent on a year-on-year basis

This is 20.73 percentage points lower than the 29.63 per cent recorded in January 2025.

On a month-on-month basis, the food inflation rate in January was -6.02 per cent, a decrease of 5.66 per cent from the -0.36 per cent recorded in December 2025.

The NBS attributed the decline to decreases in the average prices of items such as water yam, eggs, green peas, groundnut oil, soya beans, palm oil, maize and guinea corn

Others are beans, beef, melon (egusi), cassava tuber and cowpeas, among others.

Similarly, Nigeria’s headline inflation dropped to 15.10 per cent in January, down by 0.05 percentage points from 15.15 per cent in December 2025.

On a year-on-year basis, the headline inflation rate in January was 12.51 per cent lower than the 27.61 per cent recorded in January 2025.

The January figures mark one of the steepest declines in recent years, particularly in food inflation, which has been a major driver of overall inflation.

Mrs Chidinma Ike, a trader at Garki Market, said that the reduction in food inflation had slightly eased the burden on households.

“Throughout 2024 and early 2025, the prices of rice, beans, garri, vegetable oil and other food items were rising almost every week.

“Now, we are seeing some stability. Customers are buying more compared to that time,” she said.

Maimuna Ahmed, a civil servant and mother of three, said, “I can finally buy a basket of tomatoes without feeling like I am spending my entire salary.

In 2024 and early 2025, garri, rice and pepper were almost beyond reach. Although they are still high, at least they are coming down.”

Mr David Omodele, a businessman, said that the drop in food inflation had eased the strain on his monthly budget.

“Last year, feeding my family was the biggest challenge. Everything kept increasing weekly.

“Now, prices are stabilising for some food items like rice, beans and garri. It gives us hope. We pray the government sustains this reduction,” he said.

Ojonemi Ejigah, a restaurant owner in Durumi, said that the reduction in prices of some food items had helped her business to recover.

We reduced portion sizes when food prices were too high. But recently, the cost of some items, such as tomatoes and rice, has dropped.

“It is helping small businesses like mine. At least we are making a little profit, unlike before. I hope the government can ensure that the prices do not go up again,” she said.

For Chidi Okeke, a public servant, the drop in prices of some food items was a welcome development.

Okeke, however, said that its effect was limited as transportation, rent and other essential costs remained high.

“I noticed the drop in prices of foodstuffs like rice, beans and garri in the market, and I must say it is a welcome development.

However, the effect is not being fully felt because house rents are still high. Transportation fares, petrol and cooking gas prices are also quite high.

“I urge the government to intervene in other sectors to make life more meaningful for Nigerians,” he said.

Adeola Azeez, a taxi driver, also complained that transportation and energy costs remained high.

“Food prices may be coming down, but fuel and spare parts are still expensive. If those costs remain high, it can affect prices again,” he said.

Mrs. Funmi Adegoroye, a businesswoman, said the statistics would be meaningful only if the price reductions were sustained.

The purchasing power of many Nigerians is still very low. Even with reduced prices on some food items, many Nigerians still cannot afford them.

“We have suffered enough. If food keeps becoming more affordable, then Nigerians can breathe again,” she said.

Analysts attributed the decline to improved food supply, relative exchange rate stability and government interventions aimed at boosting agricultural production.

Mr Sunday Peter, an economist and agro-consultant, said that exchange rate stability and increased agricultural output had helped to ease inflationary pressures.

Kabir Ibrahim, President of the All Farmers Association of Nigeria (AFAN), said that the current drop in food prices was largely driven by harvest-season factors and warned that prices could rise again without structural improvements.

Experts recommended addressing insecurity, foreign exchange challenges and transportation costs to curb food inflation and ensure sustainable food security.

Culled from vanguard