Food prices spike in May as sellers pass cost to Lagosians

Food prices across major Lagos markets rose again in May 2026, reversing part of the broad-based relief observed in April as transportation costs, seasonal supply fluctuations, and rising logistics expenses affected staple commodities.

The rise in major food staples is largely attributable to rising diesel and transport costs, as the price of fuel rose again from N1,245 per litre in April to an average of N1,330 per litre in May, triggering a reversal from the price relief experienced in the previous month.

The May survey suggests that while severe food inflation pressures may be easing compared with 2024 and early 2025 levels, rising transport and logistics costs continue to limit the pace of price moderation across Lagos markets.

The market survey on food prices conducted by the research arm of Nairametrics tracked a basket of 67 staple food items across Mushin, Mile 12, Daleko and Oyingbo markets, recorded a gradual stabilization trend in May 2026 and reflecting the interplay of supply adjustments, seasonal harvests, and persistent cost pressures across Nigeria’s food value chain.

What the data is saying

The output of the Lagos market food price survey conducted in May 2026 highlights a gradual transition away from the widespread price corrections seen in April toward a more balanced market environment.

A review of 67 staple food items shows that 27 items recorded price increases, a notable rise from the 18 items that increased in April 2026.
At the same time, 17 items declined in price, sharply lower than the 44 items that recorded reductions in the previous month, while 23 items remained unchanged, compared to just 5 items in April.
As of April 2026, Nigeria’s headline inflation rose to 15.69% up from 15.38% recorded in March, while food inflation rose to 16.06% year-on-year, although significantly lower than the 24.68% recorded in April 2025.
The NBS attributed the rise in food prices to increases in the cost of key staples, including millet, yam flour, fresh ginger, beef, garri, beans, tomatoes, wheat grain, soybeans, and plantain.
At the Lagos state level, food inflation remains sensitive to supply inflows from northern Nigeria, transport costs linked to fuel prices and seasonal agricultural cycles.

Traders’ reactions to price changes

Across Mushin, Daleko, Mile 12, and Oyingbo markets, traders described May as a mixed month for food prices.

“Even when prices go up, customers are buying smaller quantities,” Prince Emma, a grains seller at Oyingbo, said. “People are more careful with spending now.”
Another trader, Madam Abeni at Daleko market noted: “The market is calmer than before, but transportation costs are still affecting many goods. That’s why prices are not dropping fully.”

In Mile 12, a tomato seller, Kazeem, highlighted that although prices fell, spoilage risks remain high, forcing traders to adjust pricing quickly to avoid losses.

Abass, a trader in Mushin, explained that pepper supplies declined due to reduced inflows from key farming belts, forcing prices upward despite weakening consumer demand.

Food items that increased in price

Among the strongest price increases recorded in May were pepper, beans, flour-based products, and vegetable oil.

A big bag of pepper climbed from N105,000 to N120,000, while medium-sized bags rose to N80,000.
Brown beans above 50kg increased from N120,000 to N130,000, while Oloyin beans rose from N65,000 to N70,000.
Local vegetable oil prices also surged, with the 25-litre gallon rising from N53,000 to N62,000, while the 5-litre variant increased by 15% to N11,500, largely due to input cost pressures and supply tightness.
Ayoola poundo yam flour variants surged to N18,350 from N16,500, an 11.15% increase, while 2kg of Honeywell wheat rose by 10.87% to sell for N2,550 from N2,300.
A 450g Milo refill pack now sells for an average of N3,600, posting an 11.11% increase.

Other items that recorded notable spikes in prices include yam tubers, semo, and dairy products.

Items that recorded price decline

Despite the renewed upward trend, several food items recorded price declines in May as supply conditions improved across some agricultural categories.

Dry onions recorded one of the sharpest declines, dropping from N105,000 to N80,000 per big bag due to increased supply from northern states.
360g Bournvita refill dropped 20.22% to N3,550, reflecting possible distributor adjustments or promotional pricing.
Sweet potatoes dropped 20% to N24,000 from N30,000, due to increased harvest supply.
Round-shaped tomatoes fell from N65,000 to N60,000 per basket, while oval-shaped tomatoes declined to N35,000.
Local palm oil prices dropped across multiple categories, with the 25-litre variant declining from N55,000 to N45,000.

Other items that recorded declines included Power Oil, Kings vegetable oil, sweet potatoes, and frozen products.

Notably, a total of 23 food items recorded no price movement in May, compared to just five items in April, suggesting emerging short-term stability in some market segments.