Nigeria’s Food Inflation Rate Down By Over 28% in November 2025

News in Brief:

-Nigeria’s food inflation rate fell by 28.85% in November 2025 compared to November 2024, mainly due to a change in the base year and rebasing of the goods and services basket.

-Month-on-month food prices still rose by 1.5% and Nigerians are experiencing easing real-life food price pressures.

The food inflation rate in Nigeria fell by 28.85% in November 2025, compared to November 2024, according to a report by the National Bureau of Statistics (NBS). This decline was ascribed to the change in the base year, which was updated from 2009 to 2024.

Recall that this rebasing means that the price reference period (base year) for inflation calculation is now 2024, with a new weight reference period of 2023. It also involved updating the composition of the goods and services basket, revising item weights, and expanding the basket from 740 items to about 960 items to reflect current consumption patterns.

In terms of month-on-month comparison, the food inflation rate across Nigeria in November was up by 1.5% on the back of higher average prices of tomatoes, cassava tuber, periwinkle, grounded pepper, eggs, crayfish, melon (egusi), and so on. Also, farm produce prices rose by 0.79% on average from October 2025.

Kogi, Ogun, and Rivers States experienced the highest food inflation rate for the month in terms of Year-on-Year changes, while Imo, Katsina, and Akwa Ibom States recorded the slowest. On a Month-on-Month basis, Yobe, Katsina and Ondo States saw the greatest changes, while Imo, Nasarawa, and Enugu had the most declines.

Economists have cautioned that the significant decline could be a "statistical illusion" and not necessarily reflect an immediate, real-life easing of price pressures for ordinary citizens.

However, there has been a deceleration in food costs in 2025. Data on selected food prices shows a slower change in increasing prices monthly and even dips. Unlike 2024, where price YoY price hikes were touching 300% increases, the highest price rise among food items was about 69% (Tilapia fresh fish) in September 2025 and 73% (Plantain, unripe) in June 2025.