See the new cost of cooking jollof rice as chicken and cooking oil prices fall

• The cost of cooking jollof rice fell 11.5% in the third quarter, driven by cheaper chicken, beef and vegetable oil
• Lagos recorded some of the biggest savings, while flooding pushed prices higher in Port Harcourt
• Despite the drop, jollof costs remain 5.8% above September 2025 and about 540% higher than in 2016

Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.

Nigerian households are beginning to enjoy some relief from soaring food costs as declining chicken, beef and vegetable oil prices pushed down the cost of preparing a pot of jollof rice by 11.5 per cent in the third quarter of 2026.

A new report by SBM Intelligence revealed that the National Average Jollof Index dropped from N29,578 in June to N26,178 in September, representing a reduction of N3,400.

The decline, the steepest quarterly fall since the research firm began tracking jollof rice costs in July 2016, was largely driven by cheaper protein and cooking oil as agricultural produce reached markets.

The report, titled The Pot Cools, but Not Everywhere, examined food prices across 13 markets in Nigeria's six geopolitical zones.

Chicken and beef prices drive major reductions

According to SBM Intelligence, falling chicken and beef prices accounted for a significant portion of the reduction, reversing the sharp increases recorded earlier in the year.

Vegetable oil also became cheaper in nine of the 13 markets surveyed.

In Lagos, the price of 90 centilitres of vegetable oil dropped from N5,000 to N3,000, providing additional relief to households.

The report showed that the sharpest decline occurred between June and July, when the index fell by N2,312.

Prices remained relatively stable in August before declining by another N984 in September.

The development coincided with easing food inflation, which fell from 20.31 per cent in July to 19.57 per cent in August, according to the National Bureau of Statistics.

Lagos residents enjoy biggest price relief

However, the reduction was uneven across Nigeria, with Lagos recording some of the most significant improvements.

At Trade Fair and Balogun markets, the cost of preparing jollof rice crashed from N34,700 in June to N22,350 in September, representing a 35.6 per cent reduction.

In Onitsha, the cost declined by 5.3 per cent to N21,350, while Awka recorded a 3.2 per cent reduction to the same amount.

Port Harcourt was the only surveyed location where prices increased, rising by 2.6 per cent from N31,200 to N32,000.

SBM linked the increase to flooding in Port Harcourt and Obio/Akpor, which disrupted local market conditions.

Meanwhile, Calabar remained among the country's most expensive locations, with jollof rice costing N34,600 in Calabar Municipal and N34,500 in Bayside Mbakpa.

The report also cautioned that a data-recording error involving spice prices exaggerated the reported decline in two Ibadan markets.

Nigerians return to buying chicken

Beyond the figures, SBM found evidence that falling prices were influencing household food choices.

A respondent in Kumbotso, Kano State, who previously stopped buying chicken because of high prices, resumed purchasing one chicken weekly after the price per kilogram declined from N7,000 to N4,500.

Another respondent in Gwale reported being able to cook stew daily again following a reduction in pepper prices.

Food prices remain painfully high

Despite the improvement, SBM warned that Nigerian families were still paying substantially more for food than in previous years.

The national jollof index remained 5.8 per cent higher than in September 2025 and approximately 540 per cent above its July 2016 level.

Rice prices contributed little to the quarterly decline, underscoring the growing influence of protein, cooking oil and other ingredients on household food expenditure.

The findings suggest that while cheaper chicken and other ingredients are easing pressure on family budgets, sustained reductions will be necessary before Nigerians experience lasting relief.

Egg prices in Nigeria show signs of falling

Legit.ng earlier reported that egg prices are showing signs of easing across parts of Nigeria following months of rising costs, offering some relief to households struggling with expensive food items.

However, fresh market findings reveal significant price differences across states, with consumers in some locations paying considerably more for a crate of eggs than those elsewhere.

Source: Legit.ng