Nigeria recorded its first decline in the National Average Jollof Index after rising steadily since February 2018, as both headline and food inflation in Africa’s most populous nation continue to cool.
“In Nigeria, the National Average Jollof Index witnessed a modest decline of 3.17% over the quarter, falling from N27,528 in June to N26,656 by September,” SBM Intelligence said in a new report on Tuesday.
The Lagos-based data analytics and intelligence gathering firm, however, noted that the moderation in the price index was “non-linear and fragile”, urging authorities to “establish basic supply chain integrity and security.
“The easing momentum is partially credited to government interventions, notably, import waivers for key food items, which improved market supply, and a more stable Naira, which helped curb the cost of imported inputs.”