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.
President Bola Tinubu has reaffirmed the Federal Government’s commitment to rehabilitating and repositioning Nigeria’s dormant national refineries, declaring that the facilities will not be allowed to become stranded assets.
Tinubu was represented by the Permanent Secretary of the Ministry of Petroleum Resources, Mrs Patience Oyekunle, at the 20th OTL Africa Downstream Energy Week in Lagos on Monday.
The President said the government is adopting a more rigorous and commercially sustainable approach to the rehabilitation of the Port Harcourt, Warri and Kaduna refineries.
“At the same time, the government remains committed to ensuring that existing national refining assets are not allowed to become stranded investments,” the statement said.
“We are pursuing a more rigorous, commercially sustainable approach to the rehabilitation and repositioning of our refineries, supported by technical assessment, stronger partnerships, and improved operational discipline.”
The objective, according to the administration, is for Nigeria to refine more of its crude oil, create greater domestic value and become a reliable supplier of energy to Africa.
The national refineries, managed by the Nigerian National Petroleum Company Limited (NNPC), have remained largely inactive for years despite significant spending on turnaround maintenance. The NNPC has signed a memorandum of understanding with Chinese firms as part of ongoing efforts to revive the facilities.
Tinubu also noted the contribution of private refining capacity, particularly the Dangote Refinery, which has reached its 650,000 barrels-per-day nameplate capacity, in strengthening Nigeria’s prospects of becoming a net exporter of refined petroleum products.
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