NBS Reports April Food Price Increases, Signals Persistent Consumer Pressure

By Jennete Ugo Anya

The National Bureau of Statistics (NBS), in its April 2026 selected food prices report released recently, recorded fresh month-on-month increases across major household staples, including tomatoes, brown beans, white garri, onions, ginger and palm oil. Tomatoes rose 6.60 percent to N1,177.92 per kilogramme from N1,104.85 in March, while beans, garri, onions, ginger and palm oil also posted monthly gains ranging from 0.12 percent to 0.99 percent. Although most commodities remained below April 2025 levels on a year-on-year basis, the latest increases confirm renewed pressure on household food budgets amid wage growth that continues to lag living costs.

DECISION HIGHLIGHT

The report does not announce a policy decision, but it provides official confirmation that food price moderation remains fragile despite year-on-year declines in several staples.

DECISION MEMO

The significance of the April data lies less in annual comparisons and more in the return of sequential price increases across essential food categories. For consumers, purchasing decisions occur monthly rather than annually, making sustained month-on-month increases more visible than statistical year-on-year improvements.

The data suggests that while supply conditions may have improved relative to the extreme inflationary period of 2025, structural vulnerabilities across food distribution, transportation, storage and regional market integration remain unresolved. The broad-based nature of the increases indicates that food affordability remains under pressure despite headline signs of moderation.

Particularly notable is ginger, which remains one of the few commodities posting both monthly and annual increases, suggesting persistent supply constraints or strong demand dynamics.

DATA BOX

• Tomatoes: N1,177.92/kg, +6.60% m/m, -8.23% y/y
• Brown beans: N1,338.93/kg, +0.99% m/m, -44.89% y/y
• White garri: N808.96/kg, +0.93% m/m, -39.86% y/y
• Onion: N1,164.39/kg, +0.98% m/m, -22.56% y/y
• Fresh ginger: N5,581.82/kg, +0.73% m/m, +12.30% y/y
• Palm oil: N2,396.32/litre, +0.12% m/m, +4.77% y/y
• Highest tomato price: Bayelsa, N1,600.73/kg
• Lowest tomato price: Plateau, N730.48/kg
• Highest beans price: Oyo, N1,938.91/kg
• Lowest beans price: Taraba, N750/kg
• Highest garri price: Abia, N1,075.47/kg
• Lowest garri price: Plateau, N517.94/kg
• Highest onion price: Abia, N2,115.67/kg
• Lowest onion price: Kwara, N684.38/kg
• Highest palm oil price: Ekiti, N2,819.09/litre
• Lowest palm oil price: Abia, N2,024.41/litre

WHO WINS / WHO LOSES

Winners: Farmers and traders benefiting from stronger commodity pricing, food-producing regions with improving market demand.

Losers: Urban consumers, low-income households, salary earners and businesses dependent on food-related inputs.

POLICY SIGNALS

The figures reinforce the need for continued intervention in agricultural logistics, storage infrastructure, transportation networks and food market efficiency. Regional price disparities remain significant, suggesting weak integration between production centres and consumption hubs.

INVESTOR SIGNAL

The data points to continued opportunities across agricultural value chains, warehousing, cold storage, food processing, logistics and commodity trading. Persistent pricing power in selected commodities indicates that food remains one of the economy’s most resilient sectors.

RISK RADAR

• Renewed acceleration of food inflation
• Further erosion of household purchasing power
• Wage-price pressures
• Regional supply disruptions
• Higher poverty and food insecurity risks
• Increased inflation expectations if monthly food price increases persist through subsequent quarters