Jollof rice cost drops 11.5%, households still struggle – Report

The price of preparing jollof rice in Nigeria dropped by 11.5% in the third quarter of 2026, according to a report from SBM Intelligence. However, despite the reduction, many households continue to struggle with stagnant incomes and high living expenses. The average cost fell from N29,578 in June to N26,178 in September, primarily due to lower prices for chicken, beef, vegetable oil, and other ingredients.

SBM highlighted this as the most significant quarterly decline since the index's introduction in July 2016, surpassing declines of around six percent in 2017 and 2018. However, the research firm emphasized that the improvement did not translate into meaningful financial relief for many households, as food prices remained significantly higher than in previous years.

The revised reduction, after correcting a data collection error, was estimated at 8.5%, bringing the average cost to approximately N27,055. Regional disparities were evident, with Lagos experiencing the largest decline of 35.6%, while Kano saw a 9.4% reduction. Despite the improvement, household interviews indicated that lower food prices did not significantly enhance purchasing power, as income hadn't increased.

The report cautioned that the relief might be temporary, as transportation costs remained elevated and fuel prices could undermine recent gains.