Nigeria’s Inflation Pressure Persists as Food Prices and commodities Remain High Nationwide

Nigeria’s inflationary pressure continues to weigh heavily on households as food prices remain elevated across major cities, despite recent economic policy adjustments by the federal government. Rising costs of essential commodities such as rice, bread, tomatoes, cooking oil, and protein sources have intensified concerns about the affordability of basic living for millions of Nigerians.

Across cities including Lagos, Abuja, Port Harcourt, Onitsha, Ibadan, and Kano, market surveys indicate that food prices remain stubbornly high, driven by a combination of currency volatility, transportation costs, insecurity in food-producing regions, and structural challenges within the agricultural supply chain. For many families, food now accounts for a disproportionate share of monthly income, leaving little room for savings or other essential expenses.

Economists note that inflation in Nigeria is being fueled largely by food inflation, which has proven difficult to contain. While monetary tightening by the Central Bank of Nigeria (CBN) has aimed to stabilise the naira and control price levels, the impact on food affordability has been slow to materialise. High interest rates, though effective in managing liquidity, have also increased borrowing costs for farmers and small-scale food traders.

Transportation remains a key contributor to rising food prices. Since the removal of fuel subsidies, logistics costs have increased sharply, affecting the movement of goods from farms to urban markets. Many traders have transferred these additional costs directly to consumers, further pushing prices upward. In rural areas, insecurity and climate-related challenges have also disrupted farming activities, reducing supply and adding pressure to already strained markets.

Households across income levels are adjusting consumption patterns in response to the rising cost of food. Many families report reducing meal portions, substituting cheaper alternatives, or cutting back on protein intake altogether. For low-income earners, these adjustments raise serious concerns about nutrition, health outcomes, and long-term productivity.

Government officials have reiterated commitments to tackling inflation through targeted interventions. These include initiatives aimed at boosting agricultural production, improving access to credit for farmers, investing in storage and transportation infrastructure, and stabilising the foreign exchange market. Authorities have also emphasised the importance of fiscal discipline and revenue mobilisation to reduce reliance on borrowing.

However, analysts argue that addressing Nigeria’s inflation problem requires a coordinated approach that goes beyond monetary policy alone. Structural reforms in agriculture, energy, transportation, and security are seen as critical to ensuring sustainable price stability. Without improvements in food production and distribution, inflationary pressures are likely to persist, even if currency stability improves.

The private sector has also called for policy consistency and clearer timelines for reform implementation. Businesses involved in food processing and distribution highlight the need for stable input costs, predictable exchange rates, and improved infrastructure to lower operating expenses and pass savings on to consumers.

As Nigerians continue to navigate rising living costs, inflation remains a central issue shaping economic confidence and household welfare. While short-term relief may be limited, sustained policy execution and structural reform will be essential in restoring purchasing power and easing the burden on consumers in the months ahead.