Lagos residents have received a welcome relief as food prices across major markets recorded a noticeable decline in January 2026, easing pressure on household budgets after the festive season.
A survey of key markets including Mile 12, Mushin, Daleko, and Oyingbo revealed that prices of many staple food items fell compared to December 2025. Analysts say the decline is largely due to post-holiday corrections, improved supply, and reduced consumer demand following the Christmas and New Year celebrations.
Staples such as rice, beans, garri, and tomatoes were among the items that became more affordable, providing much-needed relief to households that had faced high inflation in previous months. Traders noted that better availability of farm produce and slower buying activity contributed to the stabilization of prices across the markets.
However, the relief was not uniform. Prices of cooking oils and some processed food items remained high, limiting the overall impact on household spending. Economists warn that while January’s price moderation is a recurring seasonal trend, sustained relief will depend on factors such as transportation costs, exchange rate stability, and government support for food production and distribution.
For now, Lagos residents are cautiously optimistic, welcoming the drop in prices while hoping that the downward trend will continue in the months ahead. Visit www.jocomms.com for more news.