Major Relief for Nigerian Consumers as Garri Prices Plummet
Nigerian households are experiencing significant economic relief as the price of garri, a staple food across the country, has witnessed a dramatic decrease in markets nationwide. This welcome development comes amid increased cassava production leading to abundant supply and falling inflation rates.
Recent market surveys conducted across major Nigerian markets reveal that the price of yellow garri in small "paint" buckets has dropped by an impressive 51%, falling from N3,500 in 2024 to N1,700 in 2025. Similarly, the cost of a 60kg bag of yellow garri has decreased by 52%, now selling for N20,000 compared to N42,000 during the same period last year.
Inflation Shows Significant Decline
The National Bureau of Statistics (NBS) has confirmed the positive economic trend, reporting that Nigeria's headline inflation rate eased to 16.05% in October 2025. This represents a substantial drop from the 18.02% recorded in September and marks one of the most significant monthly declines in recent years.
When compared to October 2024, when inflation stood at 33.88%, the current rate shows an improvement of 17.82 percentage points. The Consumer Price Index (CPI), which measures average price changes for goods and services consumed by Nigerians, indicates sustained positive movement in the economy.
Government Policies Driving Economic Recovery
The Federal Government has attributed the rapid moderation of inflation to multiple factors, including the recent rebasing of the CPI that removed 10.32% from the inflation database. Additional contributing elements include the reduction in food prices, particularly grains and cassava-based products like garri, and a stronger naira that has slightly reduced the cost of imported goods.
This progress means President Bola Tinubu's projection of achieving 15% inflation by the end of 2025, as captured in the 2025 Appropriation Bill submitted to the National Assembly, is now within closer reach.
According to the NBS report: "On a month-on-month basis, the headline inflation rate in October 2025 was 0.93%, which was 0.21 percentage points higher than the 0.72% recorded in September." The twelve-month average inflation rate now stands at 21.61%, down from 26.12% in October 2024.
Food Inflation and Market Realities
The food inflation rate presents an even more encouraging picture, registering at 13.12% on a year-on-year basis in October 2025. This represents a remarkable 26.04 percentage point decrease compared to the rate recorded in October 2024, which was 39.16%.
However, the situation presents a mixed blessing for farmers. While consumers benefit from lower prices, agricultural producers report that the drastic fall in garri prices is hurting their profitability. The current cassava glut has pushed the market into oversupply, creating challenging conditions for those who cultivate the crop.
Economic analyst Muda Yusuf provided context to the developments, telling Legit.ng: "Nigeria's sharp drop in inflation for October 2025 is a positive sign for economic stability, but many families are not yet feeling the impact because key structural challenges remain, particularly in food production, transport, energy, housing, and essential services."
He emphasized that for the decline in inflation to truly ease living costs, Nigeria needs consistent and targeted reforms across major sectors. With better coordination between monetary, fiscal, and structural policies, the current progress can be deepened and maintained, potentially bringing more substantial relief to Nigerian households in the coming months.
