Lagos Food Market Update: February 2026 sees price increases and modest declines

Food prices across major Lagos markets — Mushin, Daleko, Mile 12 and Oyingbo — recorded a mixed pattern in February 2026, with more items posting increases compared to January, even as a larger number of staples saw price moderation.

Nairametrics market survey shows that 26 food items recorded price increases in February, up from 15 items in January.

On the other hand, 35 items declined in price, although this was lower than the 49 items that recorded reductions in the previous month.

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Meanwhile, 12 items remained unchanged, reflecting relative stability in a few segments of the food basket.

The data suggests that while disinflationary pressures are gradually emerging in some commodity lines, supply-side bottlenecks and seasonal factors are still pushing prices in others.

**What the data is saying **

As a major consumption hub, Lagos often mirrors national trends but with heightened volatility due to its dependence on interstate supply chains.

February recorded 26 price increases, 35 declines, and 12 unchanged items across surveyed markets.

The pace of price moderation slowed compared to January, when 49 items posted declines.

According to the latest data from the National Bureau of Statistics, headline inflation eased slightly to 15.10% in January 2026, while food inflation fell sharply to 8.89%, providing the biggest relief to consumers as reflected in the January Nairametrics market survey report.

For now, Lagos markets appear to be in transition — balancing between gradual stabilization and persistent inflationary risks.

If supply flows improve and logistics costs remain contained, broader moderation could emerge in March. However, any disruption in transport, fuel supply, or exchange rate stability could quickly reverse recent gains.

**Items that recorded price increases **

Among the items that recorded notable price increases were pepper, tomatoes, grains, flour brands, egusi, and select frozen products.

• Pepper (big bag) rose significantly from N40,000 in January to N58,000 in February, marking a 45% increase.
• Similarly, round-shaped tomatoes (big basket) climbed from N30,000 to N40,000, while oval-shaped tomatoes rose from N21,000 to N25,000.
• Grains also witnessed moderate increases; White maize (50kg) increased from N47,000 to N55,000, and yellow maize moved from N53,000 to N57,000.
• Several brands of 50kg flour — including Mama Gold, Golden Penny, Honeywell, and Dangote — recorded price increases ranging from 2.7% to 10.8%.
• Egusi (big bag) climbed from N245,000 to N265,000, reflecting strong demand and tighter supply.
• Frozen turkey (carton) rose from N81,000 to N87,000, while chicken laps increased slightly to N60,000.
• Several 50kg flour brands, including Mama Gold, Golden Penny, Honeywell, and Dangote, recorded price increases ranging from 2.7% to 10.8%.
• Refill milk brands such as Dano and Peak also recorded marginal increases, reflecting rising import costs and FX pressures in the dairy segment.

**Items that recorded price declines **

Despite the uptick in 26 items, February brought relief in several essential staples, offering relief to households.

• Brown beans (>50kg) dropped sharply by 31.25% from N160,000 to N110,000, while Oloyin beans (50kg) declined by 22.41% from N58,000 to N45,000.
• White and brown beans (50kg) both eased to N50,000.
• Fish varieties recorded notable price moderation; Kote (horse mackerel) fell 37.50% from N8,000 to N5,000 per kg, while Titus (mackerel) declined by 12.50% to N7,000 from N8,000.
• Yellow Garri (50kg) dropped by 20% from N25,000 to N20,000.
• Cooking gas refills also eased, with 5kg dropping from N6,750 to N5,500 and 12.5kg falling from N16,800 to N13,750.
• Honeywell Wheat Flour was down by 11.11% from N1,350 to N1,200. Like Semovita, the brand recorded consistent price drops.
• Ayoola Poundo yam flour (0.9kg) fell by 9.33% from N3,750 to N3,400, while Power Oil (2.6 litres) declined by 9.17% to N10,900.

Items that remained flat

Some items experienced no price change, such as a basket of potato (N35,000), Milo refill (900g and 450g), selling for N7,250 and N3,660 respectively, 25litres of local vegetable oil (N60,000), bag of dry onions (N95,000) amongst others.

This stalling pattern often occurs when inventory meets existing demand, and sellers resist adjusting prices until new stock arrives.

**Market reaction: what buyers and sellers are saying **

Traders across the surveyed markets attributed price increases in February largely to seasonal supply gaps, higher transportation costs, and logistical adjustments.

Buyers, on the other hand, expressed cautious concern over renewed pressure on essential produce such as pepper and tomatoes.

**Yakub – tomato wholesaler, Daleko **

• _“Supply from the North dropped slightly in February, thereby affecting the price of tomatoes. The cost of loading and diesel also increased, so we had to adjust.” _

**Mrs. Sholade – food vendor, Mushin **

• _“Prices are not as bad as last year, but anytime pepper or tomatoes go up, everything changes for us,” “Now, we are now buying smaller quantities.” _
• _“When the price of grains drops, we smile. But when pepper and tomatoes go up, our profit disappears.” _

Traders at Mile 12 attributed the spike to reduced inflow from northern farms, higher transportation costs, and seasonal scarcity.

**Madam Abisade – grain seller, Oyingbo **

• _“Demand slowed in January after the festive rush. By February, we had more supply in the market, so prices adjusted downward.” _

**Anonymous civil servant – Mile 12 **

• _“Beans coming down is a big relief,” “At least we can plan meals better now.” _

About the Nairametrics Food Price Survey

The Nairametrics Food Price Watch is a monthly market survey tracking the prices of major food items across Nigeria.

This report specifically covers four key markets in Lagos State: Mushin Market, Daleko Market, Oyingbo Market, and Mile 12 Market.

The survey provides up-to-date insights into food price trends, helping businesses, policymakers, and consumers make informed decisions.

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