Business
Rice, Beans, Garri Prices Fall as Nigeria Inflation Eases
Nigeria food prices fall as rice, beans, and garri decline in November 2025, easing household costs and reflecting stable inflation trends
Average prices for staple foods such as rice, beans, and garri declined across Nigeria in November 2025, offering households modest relief, the National Bureau of Statistics (NBS) has reported.
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The NBS Selected Food Prices Watch indicated that local rice averaged ₦1,861.95 per kilogram in November, down 5.00 per cent year-on-year and 2.71 per cent month-on-month from October’s ₦1,913.78.
Kogi recorded the highest average rice price at ₦2,159.99, while Bauchi was the cheapest at ₦1,237.81.
Brown beans posted a steep 43.14 per cent year-on-year decline, averaging ₦1,547.03, with a 12.13 per cent month-on-month drop. Imo had the highest price at ₦2,174.39, while Adamawa recorded the lowest at ₦725.
White garri also fell by 32.00 per cent year-on-year to ₦819.70, with Bayelsa at the top at ₦1,164.28 and Plateau the lowest at ₦487.
Tomatoes and onions mirrored the trend. Average tomato prices fell 15.57 per cent year-on-year to ₦1,243.02, while onions dropped 29.03 per cent to ₦1,332.77.
Abia recorded the highest onion price at ₦2,300.76, while Kwara remained the cheapest at ₦826.56.
Palm oil bucked the trend, rising 1.70 per cent year-on-year to ₦2,508.73, although it fell slightly month-on-month.
Enugu recorded the highest palm oil price, while Taraba had the lowest.
Economists attributed the easing in food prices to President Bola Tinubu’s policy measures introduced in September 2025 to stabilise supply and reduce market costs.
Senior banker Janet Ogochukwu noted that a stable naira exchange rate also helped importers plan purchases, reducing price volatility.
The NBS also reported that Nigeria’s food inflation rate fell to 10.84 per cent in December 2025, down from 39.84 per cent the previous year, indicating families spent less on food.
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The data suggests that households are beginning to feel the impact of stabilisation policies, though analysts caution that consistent measures are needed to sustain affordability across the country.
Business
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
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