Cost of cooking Jollof records sharpest quarterly deline in a decade to N26,178

The cost of preparing a pot of jollof rice in Nigeria fell by 11.5 percent between June and September 2026, marking the sharpest quarterly decline in the 10-year history of the SBM Jollof Index, although relief remained uneven across the country.

The SBM Jollof Index for the third quarter of 2026 showed that the national average cost of preparing a pot of jollof rice dropped to N26,178 in September from N29,578 in June, representing a decline of N3,400 within three months.

The October report, which has tracked the cost of preparing jollof rice since July 2016, said the latest decline was almost twice the previous largest quarterly fall of 5.8 percent recorded in mid-2025.

“What makes this quarter different is the size,” the report stated, noting that previous declines in 2017 and 2018 each reduced the index by about six percent.

However, moderating food costs have not translated into broad-based relief, with regional disparities, flooding, and data-recording inconsistencies complicating the picture.

Even after the quarterly decline, the cost of preparing jollof rice remained 5.8 percent higher than in September 2025 and 540 percent above its July 2016 level, highlighting the cumulative pressure on household purchasing power.

“The pot is cheaper than it was in June and still dearer than it was last September,” the report said.

Lagos and Ibadan account for most of the 11.5 percent fall in the cost of a pot of jollof. Port Harcourt, flooded in the same rainy season that cheapened food in the North, was the only market where prices rose.

“Trade Fair and Balogun markets in Lagos fell 35.6 percent to N22,350 after a 70 percent climb between February and June. Traders there said they cut prices because customers had stopped buying,” the report disclosed.

Read also: Cost of cooking jollof surges 400% in a decade as insecurity, floods drive up food prices

Chicken leads food price reversal

Protein and vegetable oil drove the decline, reversing a trend that had made protein one of the biggest contributors to rising jollof rice costs over the preceding 18 months.

Chicken prices fell by a combined N9,700 across the 13 Nigerian markets monitored by SBM Research between June and September. Vegetable oil recorded a N7,350 reduction, while beef prices declined by N4,100.

The report attributed the reduction in poultry prices partly to cheaper maize-based feed, the reopening of previously closed farms and improved availability of day-old chicks.

In Kano, traders reported a shift towards locally produced chicken from farms in Oyo, Kaduna, Jos and parts of Kano State, reducing reliance on frozen chicken imported through Lagos.

The report noted that the supply recovery was driven by improved production rather than weakening demand, with a wholesaler reporting that sales volumes increased by 30 to 40 percent following price reductions.

The main harvest also boosted supplies of tomatoes and peppers. In Bauchi, the price of a paint bucket of tomatoes fell from N13,000 to N7,000, while pepper declined from N12,000 to between N6,000 and N7,500.

Port Harcourt bucks national trend

While prices eased in most markets, Port Harcourt recorded a 2.6 percent increase, with the cost of cooking jollof rice rising from N31,200 in June to N32,000 in September.

The report linked the increase to flooding that affected farms, damaged food supplies, and disrupted transportation in Rivers State.

It said the city’s experience contrasted with the wider national trend, where improved agricultural supplies helped reduce food prices.

“Port Harcourt flooded while the rest of the country harvested,” the report stated.

Calabar Municipal remained the most expensive market at N34,600, followed by Bayside Mbakpa at N34,500. Awka and Onitsha were the cheapest markets, with the cost of preparing a pot of jollof rice standing at N21,350 in each.

The report also identified a recording error in Ibadan, where curry and thyme were recorded at approximately N650 each from July, compared with about N3,500 previously.

Excluding the error, the national index would have declined by 8.5 percent rather than 11.5 percent, bringing the September average to approximately N27,055.

The findings come as Nigeria’s headline inflation eased to 14.63 percent in September, following a decline to 15.39 percent in August, while the Monetary Policy Committee reduced the monetary policy rate to 23 percent in September.

Nevertheless, SBM warned that lower food prices do not necessarily mean food has become affordable, as transportation costs, uneven supply and weak household purchasing power continue to limit the benefits of falling market prices.

“One good quarter does not undo a decade,” the report said.