Farm produce inflation in Nigeria climbed to 21.99% in August 2026, marking its highest level so far this year and signalling renewed pressure on agricultural commodity prices. The latest figure, based on National Bureau of Statistics (NBS) data, comes despite the recent moderation in Nigeria’s headline inflation rate.
The increase follows a fluctuating trend throughout the year. Farm produce inflation stood at 10.93% in January, rose to 13.27% in February and 15.27% in March before reaching 18.86% in April. Although the rate dropped to 13.26% in May, it rebounded sharply to 21.70% in June and eased slightly to 19.82% in July before reaching the August peak.
The latest data also shows that the farm produce index increased from 120.8 in January to 151.4 in August, representing a 25.3% increase within eight months. While the rise does not mean every agricultural commodity became more expensive at the same pace, it points to broader price pressure across the farm produce market.
The development comes as Nigeria continues to face food-security concerns, with 36.3 million people reportedly experiencing crisis-level food insecurity or worse in August 2026, according to data from the Alliance for a Green Revolution in Africa (AGRA). Rising production costs, insecurity, post-harvest losses and other challenges affecting farmers have continued to put pressure on the agricultural supply chain. At the same time, Nigeria’s agricultural imports declined by 8.5% year-on-year to N2.03 trillion in the first half of 2026.
With more than 25 million Nigerians engaged in agriculture, the latest inflation figures have implications beyond food prices. Persistent pressure on farm produce prices could affect household food costs, farmers’ operating expenses and the wider economy. Addressing production costs, security, storage facilities and agricultural infrastructure will remain important as Nigeria seeks to strengthen food supply and reduce pressure on consumers.
source: nairametrics
