By Kingsley Benson
Nigeria’s food market is showing renewed signs of short-term pressure despite noticeable year-on-year declines in the prices of several major staples, highlighting the continuing fragility of the country’s agricultural supply system.
Latest data released by the National Bureau of Statistics (NBS) under its Selected Food Price Watch for March 2026 showed that the prices of beans, eggs, garri and onions increased slightly on a month-on-month basis compared to February, even though they remained significantly lower than levels recorded a year earlier.
The mixed pricing pattern suggests that while inflationary pressures on some food commodities may be easing gradually over the longer term, short-term supply constraints and market volatility continue to affect household food costs across the country.
According to the report, the average price of a crate of 30 eggs stood at N6,127.62 in March 2026, representing a year-on-year decline of 20.12 percent from N7,670.56 recorded in March 2025. However, the commodity also recorded a monthly increase of two per cent compared to February 2026.
Similarly, the average price of brown beans declined sharply by 49.32 percent year-on-year to N1,325.85 per kilogram from N2,616.26 recorded in March 2025. On a monthly basis, however, prices rose by 1.41 percent from N1,307.44 in February.
The NBS also reported that the average price of white garri sold loose fell by 41.19 per cent year-on-year to N801.54 per kilogram from N1,362.96 in March 2025, although it increased by 1.38 percent compared to February 2026.
Onion prices followed a similar pattern, declining by 19.63 percent year-on-year to N1,153.14 per kilogram while recording a monthly increase of 1.59 percent.
In contrast, fresh ginger continued to record both annual and monthly price increases, rising by 20.46 percent year-on-year to N5,541.25 per kilogram alongside a monthly increase of 0.61 percent.
The data reflects the uneven nature of Nigeria’s food inflation dynamics, where temporary improvements in annual price levels are still being disrupted by short-term supply shocks, transportation costs, seasonal fluctuations and production uncertainty.
The report also showed significant regional disparities in commodity prices across states and geopolitical zones.
Taraba recorded the highest average price for eggs, while Niger posted the lowest. Oyo recorded the highest beans prices, whereas Taraba again reported the lowest.
Regional analysis showed that the South-East recorded the highest average prices for eggs and onions, while the North-West and North-Central zones posted lower average prices across several staples.
President of the Nigeria Agribusiness Group, Arc Kabir Ibrahim, said restoring guaranteed minimum prices for agricultural commodities would be important in stabilising food markets and encouraging farmers to expand production.
“The restoration of GMP (guaranteed minimum prices) will encourage farmers to go back to produce these commodities optimally thereby reversing the apathy that might cause greater turbulence,” he said.
According to Ibrahim, continued uncertainty around pricing and profitability may discourage farmers from increasing output, leaving agricultural markets vulnerable to recurring supply disruptions.
He noted that commodities such as rice and maize were already experiencing similar market pressures, warning that the situation could place additional stress on Nigeria’s food system if policy support mechanisms remain weak.
“And this portends serious stresses in the food system,” Ibrahim added.
The latest figures suggest that although some food commodities are gradually moderating from the sharp inflationary spikes recorded in previous periods, market stability remains vulnerable to structural supply challenges, production costs and broader macroeconomic pressures affecting Nigeria’s agricultural economy.
