The average cost of preparing a pot of jollof rice for a family of five in Nigeria has surged to N30,435 in the first quarter of 2026, reflecting a 19.4 percent increase over six months. This is according to a new report released yesterday by SBM Intelligence.
Fuel Price Surge and Global Energy Shocks
The report attributes the rising cost to escalating fuel prices, transport disruptions, and global energy shocks resulting from conflict in the Middle East. Brent crude oil prices have climbed above $110 per barrel, pushing domestic fuel costs higher across Nigeria.
According to the report, petrol prices in major cities have exceeded N1,300 per litre, while diesel now costs over N1,500 per litre. These increases have raised logistics costs throughout food supply chains, contributing to retail food inflation nationwide.
Jollof Index Findings
“This edition of the Jollof Index spans October 2025 to March 2026 and distils the turmoil into a single meal. The national average cost of cooking a pot of jollof rice for a family of five rose 19.4 percent to N30,435. Beneath that average, Abuja markets jumped by double digits, Lagos spiked 23 percent in a month, and Port Harcourt completed a six-month climb of 55 percent,” the report added.
Residents have adjusted their consumption patterns. A Lagos respondent noted, “I don’t bother about meat again. The protein I use now is smoked dry fish, because the cost of meat, chicken, or turkey is high.” Another respondent described changes in shopping behaviour: “I no longer go to the market whenever I feel like it. I buy in bulk or shop in my neighbourhood for small items.”
Regional Variations
Lagos recorded monthly increases above 23 percent, while Port Harcourt saw a 55 percent rise over six months. Abuja markets remain among the most expensive, with some locations exceeding N36,000 per pot of rice. Despite regional differences, the report concludes that Nigeria's food inflation trend is becoming increasingly structural, driven by persistent fuel dependence, logistics bottlenecks, and currency pressures.
One respondent summarised the broader reality: “We now eat when we are hungry. There is no ‘can I have more?’ You just manage the portion you are given.”
Jollof Rice as a Key Indicator
The report adds that the jollof rice index has become a key indicator of household purchasing power, reflecting how global energy shocks are increasingly shaping everyday food affordability in Nigeria. The SBM Jollof Index tracks the cost of preparing a pot of jollof rice for a family of five, based on the average household size reported by Nigeria's National Bureau of Statistics (NBS) as of the last quarter of 2014.
“Jollof rice was chosen because it is a delicacy common throughout Nigeria and West Africa; hence, the reason we deemed it a suitable benchmark,” the report said.
NBS Data on Rice Prices
This comes as the NBS reported that the average price of 50kg local rice (short grains) rose by 20.5 percent in March 2026 to N112,000 from N92,946 in February 2026. The NBS disclosed this in its Selected Food Price Watch report for March 2026. The report also showed that the price of 50kg of foreign rice grew by 3.06 percent to N133,975 in March from N110,589 in February. It noted that some selected food items also recorded an increase in price during the review period.
