The NBS in the report released on Mo day said Nigeria’s headline inflation eased to 15.06 per cent in February 2026,
The report however shows that food inflation has begun an upward swing rising from -6.02 per cent in January 2026 to 4.69 per cent in February, up by 10.70 per cent, on a month-on-month basis. However, on a Year-on-Year basis, the report shows that the food inflation rate in February 2026 was 12.12 per cent, 14.86 per cent points lower compared to the rate recorded in February 2025 which was 26.98 per cent
The NBS report shows that food is now becoming more expensive in states hitherto described as food baskets of the nation.
According to the report, in February 2026, food inflation on a Year-on-Year basis was highest in Kogi where it was 26.91 per cent, Adamawa, 23.12 per cent, and Benue, 21.89 per cent. On a Month-on-Month basis, February 2026 Food inflation was highest in Bayelsa, 8.81 per cent, Ebonyi, 8.51 per cent and Edo, 7.72 per cent.
Benue, Kogi, Adamawa, Ebonyi and Edo are states noted for their high agricultural productivity, producing crops like rice, cassava, yams, oil palm maize, groundnuts, and wheat, among others.
However, the volume of production of these food items has shrunk over the years given the level of insecurity in the states, especially Adamawa, Benue, Ebonyi and Kogi.
The NBS reports that on a year-on-year basis, the headline inflation rate for February 2026 fell by 0.04 per cent and 11.21 per cent when compared to 15.10 per cent and 26.27 per cent recorded in January 2026 and February 2025; respectively. The month-on-month headline inflation rate in February 2026 was 2.01 per cent, which was 4.89 per cent higher than the rate recorded in January 2026, -2.88 per cent.
Last month during its Monetary Policy Committee meeting, the Central Bank of Nigeria (CBN), lowered the Monetary Policy Rate (MPR) from 27 per cent to 26.5 per cent essentially because of an 11-month streak of easing inflation. This followed a previous cut in September 2025 to 27 per cent , marking a trend of easing in response to sustained disinflation.
President of Nigerian Agribusiness Group (NABG), Arc. Kabir Ibrahim, in an interview said insecurity and high cost of transportation are to blame for the high food prices.
He said the only way to ensure sustainable food supply at affordable prices in the country is for the three tiers of government to take a decision to subsidise agriculture, insisting that the federal government alone cannot do it.
According to him, “There is no amount of support the federal government will give that will be enough. The state and local governments must get involved.
He also suggested that the government should declare an emergency on agricultural inputs to ensure that farmers get the inputs at reasonable prices.
“There is also the need for us to return the guaranteed minimum price (GMP), in agricultural produce so that farmers can get fair prices for their efforts”, he said