Lagos Food Market February 2026: Prices Rise

February 2026 saw a patchwork of price movements across major Lagos markets, including Mushin, Daleko, Mile 12, and Oyingbo, according to a Nairametrics survey. While certain food items recorded significant price hikes, others experienced moderation, creating a mixed picture for consumers.

The survey found that 26 items increased in price, up from 15 items in January, while 35 items declined, a slowdown from January’s 49 price reductions. Meanwhile, 12 items held steady, reflecting pockets of stability in the food basket.

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These shifts suggest that while disinflationary trends are gradually emerging for some commodities, supply-side bottlenecks and seasonal factors continue to push costs higher in others.

What’s driving the changes

Lagos, as Nigeria’s largest consumption hub, often mirrors national trends but experiences higher volatility due to its reliance on interstate supply chains. The pace of price moderation slowed in February compared to January, when nearly 50 items recorded declines.

National statistics show that headline inflation eased slightly to 15.10% in January 2026, with food inflation dropping more sharply to 8.89%. These figures had provided consumers with relief earlier, but the February market survey indicates that volatility persists.

Market analysts note that the outlook depends heavily on supply flows, logistics costs, and broader economic factors such as fuel availability and exchange rate stability. Any disruptions could quickly reverse recent gains.

Items that became more expensive

Among the notable price increases:

• Pepper (big bag) jumped 45%, from N40,000 to N58,000.
• Round tomatoes (big basket) rose from N30,000 to N40,000, while oval tomatoes increased from N21,000 to N25,000.
• White maize (50kg) went from N47,000 to N55,000; yellow maize increased from N53,000 to N57,000.
• Egusi (big bag) climbed from N245,000 to N265,000, reflecting tight supply and strong demand.
• Frozen poultry products, including turkey (N81,000 to N87,000) and chicken laps (up slightly to N60,000).
• Flour and milk brands, like Mama Gold, Golden Penny, Honeywell, Dangote, Dano, and Peak, recorded moderate increases, ranging from 2.7% to 10.8%.

Items that became cheaper

Households found relief in several staples:

• Brown beans (50kg) dropped 31.25% from N160,000 to N110,000; Oloyin beans fell 22.41% to N45,000.
• Fish varieties, such as Kote (horse mackerel) and Titus, fell by 37.5% and 12.5% respectively.
• Yellow Garri (50kg) decreased 20% to N20,000.
• Cooking gas refills also declined—5kg cylinders fell from N6,750 to N5,500, and 12.5kg from N16,800 to N13,750.
• Flour and oil products, like Honeywell Wheat Flour, Poundo yam flour, and Power Oil, saw marginal declines between 9% and 11%.

Items that remained unchanged

A few items, including potatoes (basket, N35,000), Milo refill (900g and 450g), local vegetable oil (25 litres, N60,000), and dry onions (N95,000), held steady. Market observers say these stable prices often reflect adequate inventory meeting existing demand, with sellers waiting for new stock before adjusting prices.

In summary, Lagos markets remain in a transitional phase, balancing emerging stabilization with persistent inflationary pressures. Consumers are advised to monitor prices as supply chains and seasonal factors continue to influence daily costs.