Nigeria Jollof Rice Index sees largest quarterly decline

The average cost of preparing a pot of jollof rice in Nigeria fell by 11.5 percent between June and September 2026, marking the sharpest quarterly decline since the SBM Intelligence Jollof Index was introduced in 2016. The average cost dropped from ₦29,578 in June to ₦26,178 in September, driven primarily by lower prices for chicken, beef, vegetable oil, tomatoes, and red peppers.

However, SBM Intelligence noted that the reduction has provided limited relief to households facing stagnant incomes and high living costs. The September figure remains 5.8 percent higher than the same period in 2025 and approximately 540 percent higher than the ₦4,087 recorded in July 2016.

After correcting a data collection error regarding curry and thyme prices in Ibadan, the adjusted decline was estimated at 8.5 percent, bringing the average cost to approximately ₦27,055. Regional data showed significant variation, with Lagos experiencing a 35.6 percent decline, while Kano and Abuja saw reductions of 9.4 percent and 4.8 percent, respectively.