Energy sector rallies in October as geopolitical risks lift crude prices

Food prices in major Lagos markets experienced a reversal in October 2026, with more staples posting price increases than declines. According to a Nairametrics market survey of 67 food staples across four key markets, 31 items saw price increases, significantly higher than the 17 items that increased in September. Meanwhile, 20 items declined in price, down from 35 items in the previous month, while 16 items remained unchanged compared to September.

The price movements indicate that while the harvest season and improved supplies moderated prices for some perishables and imported food items, supply disruptions, seasonal demand, transportation costs, and storage-related factors pushed up the prices of several key staples including maize, garri, onions, beans, milk products, and frozen foods.

Brief written by urgent.news from Nairametrics's own syndicated text. Machine-written — may contain errors; check the original before relying on it.