Emmanuel OchayiNigeria’s food inflation rate slowed to 23.51% in February 2025, a sharp drop from the 37.92% recorded in February 2024, according to the latest Consumer Price Index (CPI) report from the National Bureau of Statistics (NBS). The decline signals a slowdown in the rate at which food prices are increasing. However, a closer look at the data reveals that while inflation has eased year-on-year, prices are still rising on a month-to-month basis. In February 2025, food inflation rose by 1.67% compared to January, showing that Nigerians are still struggling with high food costs.
READ ALSO: Nigeria Among Top 5 Nations Facing Food Inflation, Says World Bank
Join our WhatsApp ChannelWhy Food Inflation Declined
The NBS report attributes the sharp drop in food inflation partly to a change in the base year used for measurement. This means that while the figures show a significant reduction, the actual price of food items may not have decreased significantly for consumers. The decline has also been linked to an improvement in food supply, as prices of key staples such as yam, potatoes, soybeans, maize flour, and cassava showed slower increases. Some analysts believe that reduced pressure from currency fluctuations may have contributed to the lower inflation rate, as exchange rate stability often influences the cost of imported food and farm inputs. Seasonal effects have also played a role, as harvest periods typically help in reducing the pressure on food prices.
Despite these improvements, food prices remain a major driver of overall inflation in Nigeria. The report notes that food and non-alcoholic beverages accounted for 9.28% of the total inflation rate, reinforcing the fact that food costs continue to weigh heavily on household budgets.
Regional Differences in Inflation
The impact of food inflation has not been uniform across Nigeria, as some states have experienced sharper price increases than others. Sokoto recorded the highest food inflation rate at 38.34%, followed by Edo at 35.08% and Nasarawa at 33.53%. The report suggests that supply chain disruptions, transportation costs, and seasonal factors have contributed to the higher food prices in these states.
On the other hand, some states recorded the lowest inflation rates, with Adamawa at 12.18%, Ondo at 13.66%, and Oyo at 15.55%. These states have experienced slower food price increases, which could be attributed to better local production conditions and less reliance on imported food.
Month-on-month analysis shows that Sokoto recorded the highest food inflation increase at 18.83%, followed by Nasarawa at 15.32% and Kogi at 11.65%. Conversely, states such as Ondo, Kaduna, and Oyo recorded slight declines in food prices, indicating possible improvements in local supply conditions or policy measures that have helped to stabilise costs.
Food Inflation Still a Major Concern
While the decline in the inflation suggests some relief, the reality remains that many Nigerians are still dealing with high food costs. The fact that it has slowed does not mean that food prices have dropped; it only indicates that they are increasing at a reduced pace. Households continue to struggle with the high cost of staple foods, and the economic burden remains significant.
Experts warn that several factors could continue to put pressure on food prices in the coming months. Insecurity in farming regions has disrupted agricultural production, making it difficult for farmers to cultivate and transport their goods to the markets. High transportation costs have also contributed to rising food prices, as fuel prices and logistics expenses continue to fluctuate. Exchange rate instability remains another challenge, as Nigeria relies on imported food items and agricultural inputs that are influenced by currency fluctuations.
What Lies Ahead for Food Prices?
The government and economic analysts will closely monitor food inflation in the coming months to determine whether this trend will continue. Policies aimed at increasing local food production, improving food distribution channels, and stabilising the exchange rate could help in controlling the rise in food prices. However, without significant interventions, many Nigerians may continue to struggle with the high cost of food, despite the reported decline.
Although the statistics indicate a reduction in food inflation, the bigger challenge is ensuring that this translates into real relief for consumers. Food prices remain high, and until meaningful solutions are implemented, the impact of it will continue to be felt across households in Nigeria.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
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