Edible oil price surge pushes food inflation higher
Nigeria’s food inflation has continued to rise, with edible oil identified as a major factor behind the latest increase. Market data shows that edible oil saw the sharpest price jump among tracked food categories, while most other products remained stable. Dr Muda Yusuf and industry groups have highlighted the impact of these rising costs on households and the broader economy. Calls for targeted interventions and improved security in agriculture have intensified as inflationary pressures persist.
TLDR
- Food inflation climbed to 17.52 per cent in June 2026, marking the fifth straight monthly increase.
- Edible oil recorded the strongest price momentum among six tracked food categories in June.
- Dr Muda Yusuf noted that food inflation is eroding household purchasing power and worsening poverty.
- The Manufacturers Association of Nigeria reported food inflation at 17.8 per cent in May, up from 16.6 per cent in April.
- Both experts and industry leaders are urging for improved security, expanded irrigation, and targeted economic interventions.
