Farm produce inflation rises to 21.99% in August, worsening food crisis

Farm produce inflation in Nigeria accelerated to 21.99% year-on-year in August 2026, the highest level so far this year, according to Nairametrics’ analysis of NBS data. The rate rose from 19.82% in July, after dipping to 13.26% in May, and more than doubled the January figure of 10.93%. The farm produce index climbed from 120.8 in January to 151.4 in August, a 25.3% increase over eight months.

Why does this matter? Agriculture employs over 25 million Nigerians—about 30.1% of the workforce—yet the sector attracts modest investment, with only $167.25 million in capital importation in 2025. Rising farm inflation worsens food insecurity: 36.3 million people faced Crisis or worse levels in August 2026, the highest among 17 African countries monitored by AGRA. Input costs, insecurity and post‑harvest losses are driving the pressure, even as maize prices fell 10.9% year‑on‑year despite a six‑month rise.

What should you know? The broader agricultural import bill dropped 8.5% year‑on‑year to N2.03 trillion in H1 2026, indicating weaker demand or supply constraints. Policymakers must address production costs, security, storage and infrastructure alongside consumer‑price measures. For households, budgeting for higher food costs, exploring local alternatives and supporting community food‑security initiatives can help mitigate the impact.

SOURCE: https://nairametrics.com/2026/09/16/farm-produce-inflation-hits-record-22-in-august-highest-in-2026/