Nigeria’s jollof basket cost falls 11.5%, with a two-market data caveat
SBM’s fixed-quantity index recorded its largest decline since tracking began, but a unit-related recording error affected two Ibadan markets.
- Publish date: 2026-10-21
- Category: Standards & Policy
- Original source: Premium Times
- Reading time: 1 min read
SBM Intelligence’s National Average Jollof Index fell from ₦29,578 in June to ₦26,178 in September 2026, an 11.5% quarterly decline and its largest since tracking began in July 2016. The index prices fixed quantities of ingredients across 13 Nigerian markets. SBM attributed most of the fall to chicken, beef and vegetable-oil prices, while rice prices were nearly unchanged; the cost remained 5.8% above September 2025.
The declines varied by market, and Port Harcourt was the only monitored market where the index rose from June to September. SBM identified a unit-related recording error in curry and thyme prices in Ibadan’s Bodija and Dugbe markets: the apparent 21.3% decline in those two markets overstated the actual price reduction. The national fall is a fixed-basket measure, not a standalone rice-price series, and should be read with this data-quality caveat.