Nigeria Faces Growing Hardships As Food Inflation, Fuel Prices Hit Citizens Hard

Nigerians are facing rising costs of living due to food inflation and increasing fuel prices.

This comes as President Bola Tinubu visits the United Kingdom.

The National Bureau of Statistics Consumer Price Index released data showing food inflation rose to 12.12% in February 2026.

The increase was attributed to higher prices of beans, cassava, crayfish, and other staples.

Headline inflation slightly declined to 15.06% in February, down from 15.10% in January.

However, the pace of price increases has accelerated month-on-month.

Fuel prices have also surged, reaching as high as N1,330 per liter, up from around N900 per liter before February’s oil price spike.

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The rise in fuel prices has led to increased transportation costs across the country.

Economists say the surge in food prices is driven by seasonal factors and production challenges.

Ayo Teriba, an economist, believes the food price hikes reflect normal seasonal economic patterns.

Professor Godwin Oyedokun of Lead City University noted that the small decline in headline inflation offers little relief for households.

He stressed that the increase in food inflation is particularly worrying, as food makes up a large portion of household spending.

Oyedokun also pointed to high energy costs, insecurity, and logistical issues as key drivers of food price inflation.

He called for stronger policy actions to address these structural challenges.

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