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Preparing Pot of Jollof Rice Now Costs Nearly N30,000—SBM Jollof Index
By Adedapo Adesanya
Preparing a pot of Nigeria’s most valued delicacy, jollof rice, costs as much as N29,578 in June 2026 compared to N25,798 in July 2025, an increase of 14.6 per cent, according to a new survey by SBM Intelligence.
The data and research firm, in its Jollof Index Q2 2026 report, titled Rebasing, Redefining, and the Weather’s Toll on the Pot, stated that it rebased the index in the July edition to a higher standard as of July 2025 and introduced re-standardised ingredient measures.
According to the report, the index now more accurately captures how households navigate the current affordability crisis.
The study collected monthly price data on 12 key ingredients: rice, vegetable oil, turkey or chicken, beef, tomatoes, pepper, onions, tinned tomatoes, salt, curry, thyme, and seasoning cubes from 13 markets across Nigeria’s six geopolitical zones.
The markets include Nyanya and Wuse II (North Central), Bauchi (North East), Kano (North West), Awka and Onitsha (South East), Port Harcourt, Calabar Municipal, and Bayside Mbakpa (South South), and Bodija, Dugbe, Trade Fair, and Balogun (South West).
The report stated that the upward trajectory in the cost of jollof rice since July 2025 was non-linear, with prices dipping in September and October 2025 before accelerating from November through the first half of 2026.
It revealed that the index has risen from N4,087 in July 2016 to N29,578 in June 2026, a staggering 624 per cent increase over 10 years.
“The data confirms that food inflation is not a cyclical phenomenon but a structural crisis, embedded in Nigeria’s failure to secure supply chains, stabilise its currency, invest in agricultural resilience, and now adapt to a changing climate,” the SBM survey stated.
Throughout the second quarter of 2026, Nigeria’s agricultural supply chain has been gripped by a compounding crisis driven by extreme weather patterns and structural logistical failures, the report stated.
From April through June, reports from urban markets across the country- Port Harcourt, Calabar, Onitsha, Lagos, Ibadan, Bauchi, Kano, and Abuja- revealed a consistent pattern of food scarcity and sharp price volatility.
Meanwhile, the National Bureau of Statistics (NBS) said Nigeria’s food inflation stood at 17.52 per cent on a year-on-year basis in June.
“The crisis has been most acute for perishable crops, particularly tomatoes and peppers, but its reach has extended to staples such as yams, plantains, garri, and even grains.
“Across every region, the story is the same: heavy rains have flooded roads, damaged farmland, delayed harvests, and driven up transport costs. Consumers are adapting, but their options are narrowing,” the report stated.
According to the report, consumers across the country are responding in similar ways: buying in smaller quantities, substituting fresh produce with dried or processed alternatives, and reducing portions.
“But these are coping strategies, not solutions,” the report added.
Geographically, the gap between Nigeria’s cheapest and most expensive markets has widened to N14,700.
According to the SBM report, Calabar Municipal is the most expensive market to cook a pot of jollof rice at N34,750, while Awka is the cheapest at N22,050.
“The most expensive markets are either in the South-South (where protein costs and import restrictions have surged) or in Lagos (the import gateway).
“The cheapest markets are in the South-east, which has benefited from local farming and shorter supply chains,” the report stated.
In North-central, ingredient prices at Abuja’s two markets, Nyanya and Wuse II, rose significantly.
Over the year to June 2026, Nyanya rose from N24,300 to N25,450, a modest 4.7 per cent increase, while Wuse II climbed from N28,150 to N29,200, a 3.7 per cent increase.
The report stated that Abuja’s food economy is fundamentally distorted by its dependence on distant supply corridors.
“Every grain of rice, every tomato, every onion must travel from Benue, Kaduna, Nasarawa, Niger, or beyond.
“When diesel prices surge, when insecurity blocks roads, when checkpoints multiply, or when heavy rains flood roads, Abuja’s markets feel it first and most acutely,” the report stated.
In the North-east, Bauchi recorded the most dramatic price movement of any market. The index fell from N38,850 in July 2025 to N32,350 by June 2026, a 16.7 per cent decline.
This correction followed a period of hyperinflation in mid-2025, during which Bauchi’s index peaked above N41,000.
“The decline reflects a combination of factors: a localised influx of early harvest yields, a collapse in demand as prices became unsustainable, and some improvement in supply routes,” the report stated.
In the North-west region, Kano’s Jollof Index rose from N24,520 in July 2025 to N25,820 in June 2026, a 5.3 per cent increase.
The modest rise showed a deeper reality because Kano’s index has been structurally expensive for years, driven by high protein costs and logistical challenges in moving goods into the region.
“Customers will have less money to spend on beauty products when they are struggling to buy food,” a cosmetics seller in Kano captured the sentiment.
Additionally, the South-east remains Nigeria’s cheapest region for jollof, but the gap with the rest of the country is narrowing.
At Awka, the index price of jollof rice rose from N21,700 in July 2025 to N22,050 in June 2026, a 1.6 per cent increase, while the index price at Onitsha market climbed from N22,200 to N22,550, a similar increase.
“These are the only markets below N23,000. The region’s relative affordability reflects its strong local farming culture and shorter supply chains,” the report stated.
It further clarified that the trend is upward because of the South-east’s reliance on food imports from North-central states for staples such as yams and vegetables.
The report stated that this reliance exposed the region to the same transport cost increases that impact Abuja and Kano.
The South-south region recorded the steepest increases of any zone, driven by a combination of structural shifts, policy changes, weather disruptions, and logistics costs.
Port Harcourt rose from N26,400 in July 2025 to N31,200 in June 2026, an 18.2 per cent increase.
Calabar Municipal jumped from N25,500 to N34,750, a 36.3 per cent surge, while Bayside Mbakpa climbed from N25,500 to N34,650, a 35.9 per cent increase.
The South-west region, and Lagos in particular, recorded dramatic price increases.
According to the report, the index price at Trade Fair and Balogun markets rose from N23,200 in July 2025 to N34,700 in June 2026, a 49.6 per cent increase, the sharpest of any market.
“The surge reflects Lagos’s position as Nigeria’s import gateway,” the SBM report stated.
According to the survey, when global oil prices spike, when the naira weakens, when shipping costs rise, or when heavy rains disrupt supply routes, Lagos feels it first.
The Iran war fuel shock in March 2026 pushed both markets from N20,400 in February to N25,200 in March, a 23.5 per cent monthly increase, the report stated.
The upward momentum continued through April, May, and June.
At Ibadan’s markets, Bodija and Dugbe, prices rose more moderately but still significantly.
Both increased from N25,930 in July 2025 to N28,550 in June 2026, a 10.1 per cent rise.
“The gap between Lagos and Ibadan has widened, reversing a trend of convergence seen in previous years.
“In Oyo State, researchers reported that fresh pepper, tomatoes, yam, and plantain are in extreme short supply,” the report stated.
By Modupe Gbadeyanka
The sextet of Onlinebanker, Adetunji Films, More Branches TV, Wearegst, Iswellthecapitalist and The Republic have been selected for the Emerging News Voices Growth Lab organised by Google News Initiative (GNI).
The six Nigerian independent news creators are among roughly 20 emerging news creators from across the region taking part in the multi-month virtual programme, which runs through late September 2026.
Over the course of the programme, participants work directly with Google trainers and product experts across four areas:
AI in the newsroom: hands-on integration of Google’s AI tools, including Gemini, NotebookLM, Google Trends and SynthID, into daily workflows for research, transcription, translation and verification.
Video and audience growth: practical frameworks for building YouTube channels, using both Shorts and long-form video to reach new audiences.
Direct reader relationships: strengthening open web presence and newsletters to build first-party audiences the newsroom owns.
Sustainable revenue: sessions on monetisation strategy, product differentiation and audience growth models.
“Independent news creators and digital-native newsrooms are shaping how Africans, and Nigerians in particular, find and understand the news.
“The Growth Lab gives these creators what growing newsrooms need most: practical AI skills, a clear video and audience strategy, direct relationships with their readers and a path to sustainable revenue.
“When emerging voices build capability and financial independence, the whole news ecosystem becomes more resilient, diverse and sustainable,” the News Partnerships Lead for the Middle East and Africa at Google, Marianne Erasmus, stated.
Commenting on being part of the cohort, the Editor-in-Chief of The Republic, Mr Wale Lawal, said, “Google’s Emerging News Voices Growth Lab is giving us practical ways to combine audience insight, product thinking and the responsible use of AI as we build a more sustainable future for The Republic’s journalism.”
Also speaking, his counterpart at MoreBranches, Mr Nasir Achile Ahmed, said, “The program has been valuable to our newsroom, providing information that validates observations we’d made previously, as well as access to tools and the knowledge to use them effectively. Beyond that, engaging with experts and fellow journalists has created a supportive environment that is helping us strengthen our storytelling.”
Creator-led digital journalism is changing how Nigerians, especially younger audiences, find and consume news. Social-first channels and digital-native platforms increasingly drive news discovery, yet the newsrooms behind them often run lean, with limited access to the tools, training and revenue expertise available to established publishers. The GNI Growth Lab is built to close that gap.
The Growth Lab grew out of the Global News Gap Project, a continent-wide mapping of independent African news creators conducted with Project Oasis and Code for Africa, which identified where emerging newsrooms most need support.
The Growth Lab is the latest step in Google’s continued support for Nigerian media. Since 2018, Google has funded newsroom transformation projects through the GNI, helped publishers grow advertising revenue through the Ad Manager Academy, and shared ad revenue with Nigerian publishers through Google AdSense and Google Ad Manager.
Since 2024 alone, Google has trained more than 1,500 Nigerian journalists and editors in online safety, advanced Search, digital verification and audience analytics. Google also supports media skilling through its collaboration with the MTN Media Innovation Programme, where fellows receive hands-on sessions on AI as a productivity partner and on newsroom technology, from News Consumer Insights to Gemini.
By Adedapo Adesanya
The Nigerian Electricity Regulatory Commission (NERC) has dissolved the board of Kaduna Electricity Distribution Plc over the company’s cumulative market obligations of N456.5billion and prolonged financial and operational challenges.
The regulator also appointed an interim board of special directors and directed the commencement of a transparent process for selecting a new core investor for the electricity distribution company.
The decisions were contained in Order No. NERC/2026/086, titled Order on the Regulatory Intervention in Kaduna Electricity Distribution Plc Pursuant to the Electricity Act 2023, which took effect on Monday, August 10, 2026.
NERC said the intervention followed an inquiry and consultations with key industry stakeholders, including the Bureau of Public Enterprises, and was necessitated by KAEDC’s prolonged regulatory and market defaults, inadequate investment and weak operational and commercial performance.
The commission said KAEDC’s cumulative market obligation since privatisation stood at approximately N456.5 billion as of May 2026, comprising N415.5 billion owed to the Nigerian Bulk Electricity Trading (NBET) Plc and N41 billion due to the Nigerian Independent System Operator (NISO)
The company also had other non-market statutory and third-party obligations amounting to N14.26billion, according to the regulator.
NERC said that since ASI Engineering Limited took over operations of KAEDC in June 2024, the company had accrued additional market debt of more than N118.6 billion as of May 2026.
The Commission described the company’s situation as grave, citing prolonged regulatory and market defaults, inadequate investment, weak operational and commercial performance, insufficient assets relative to liabilities and the absence of a credible pathway to sustainable recovery.
NERC said KAEDC paid only 41.93 per cent of its adjusted market invoices in 2025, resulting in a market shortfall of approximately N46.71bn during the year.
It linked the poor remittance performance to the company’s high aggregate technical, commercial and collection losses, which stood at 71.88 per cent in 2025.
The regulator explained that the losses meant KAEDC could account for only 28.2 per cent of the electricity received and delivered to end-use customers during the review period.
NERC also said ASI failed to meet its capital injection commitments towards recapitalising the utility.
According to the commission, KAEDC’s actual capital expenditure in 2025 was approximately N2.48 billion, against a minimum provision of N24.51 billion, representing only 10 per cent performance.
The regulator further noted that KAEDC’s meter coverage had remained between 33.26 per cent and 35.54 per cent since ASI took over the company, despite several interventions aimed at supporting meter deployment across distribution companies.
NERC said the company’s financial difficulties persisted despite approximately N6.58billion in regulatory derogations granted between January 2024 and May 2026 and aggregate Federal Government intervention disbursements of approximately N53.79 billion since July 2018.
It warned that the continued underperformance posed a material risk to electricity consumers, creditors, market stability and the continuity of electricity services.
NERC said it had previously notified KAEDC’s major shareholders and Afreximbank of the imminent intervention and required them to present a credible plan to address the company’s financial situation.
Representatives of ASI, NERC, BPE, Afreximbank and Fidelity Bank subsequently met on June 11, 2026, to discuss proposals for rescuing the company.
According to the commission, the parties agreed that ASI had not complied with conditions prescribed for its acquisition of a 60 per cent majority shareholding in KAEDC and had also failed to comply with BPE requirements for finalising the shareholding arrangements.
NERC said ASI subsequently requested an extension of up to 24 months to stabilise KAEDC’s cash flow, prioritise critical investments and deliver measurable performance improvements, including a pathway to full market remittance.
The regulator, however, rejected the request, saying ASI had been in effective control of KAEDC since June 2024 without a corresponding improvement in its financial and operational performance.
NERC subsequently resolved to exercise its powers under Sections 75 to 79 of the Electricity Act 2023 to dissolve the KAEDC board, preserve the company as a going concern and facilitate a transparent transition to a credible core investor within 12 months.
Consequently, the commission ordered the dissolution of KAEDC’s board and removal of all its directors from office.
“KAEDC’s board of directors is HEREBY DISSOLVED. All directors of KAEDC are removed from office, and the existing board stands dissolved pursuant to section 75 of the EA,” the order stated.
NERC appointed seven special directors to constitute the interim board for the transition period, with Dr Abdullahi Garba as chairman. Other members are Engineer Francis Agoha, Mr Aliyy Aliyu, retired Major General Henry Ayamasaowei, Dr Haliru Dikko, Mr Ayodeji Gbeleyi, representing the BPE, and Dr Abubakar Umar Hashidu.
The commission also appointed the incumbent Managing Director and Chief Executive Officer, Dr Abubakar Umar Hashidu, as administrator for an initial six-month term, subject to review.
NERC said the administrator would oversee the company’s day-to-day operations, ensure continuity of electricity services, implement interim board resolutions, comply with regulatory directives and safeguard the company’s assets and records.
The commission also withdrew the Know-Your-Licensee approvals issued to members of KAEDC’s management team and directed affected management staff to present themselves for revalidation.
Meanwhile, NERC directed Afreximbank to coordinate an open, competitive and transparent process for securing a replacement core investor for KAEDC.
The preferred investor is to be presented to NERC for approval, with the process expected to be completed within 12 months from the commencement of the order, unless the commission grants a written extension.
By Adedapo Adesanya
The federal government has unveiled the Tinubu Light Initiative, a presidency-backed renewable energy programme designed to provide affordable clean electricity to one million Micro, Small and Medium Enterprises across Nigeria.
The initiative, unveiled by the National Board for Technology Incubation during the National Showcase of the NextGen Innovation Challenge 2026 in Abuja, is also expected to create more than 50,000 direct jobs while supporting local manufacturing and accelerating the adoption of renewable energy.
The programme is targeted at reducing the high cost of energy that continues to constrain businesses, particularly MSMEs that rely heavily on petrol and diesel generators amid persistent gaps in grid electricity supply.
Speaking at the event, the Director-General and Chief Executive Officer of the NBTI, Mr Kazeem Raji, said the initiative was developed in response to the growing energy burden faced by Nigerian businesses.
Mr Raji said the Tinubu Light Initiative would deploy innovative financing models, strategic partnerships and renewable energy technologies to provide cleaner and more affordable electricity to MSMEs nationwide.
“The Tinubu Light Initiative seeks to change this narrative. Through innovative financing models, strategic partnerships, renewable energy technologies and nationwide implementation, this initiative will provide affordable clean energy solutions to one million Nigerian MSMEs,” he said.
According to him, lowering the energy costs of one million businesses would enable them to redirect resources towards expansion, investment and job creation, while strengthening the competitiveness of locally produced goods.
Mr Raji said the initiative would also go beyond electricity access by supporting the local assembly and production of renewable energy equipment, reducing carbon emissions and expanding access to digital financing, with particular opportunities for women and young entrepreneurs.
“This initiative goes beyond electrification. It is an industrial policy. It is an employment strategy. It is a poverty reduction programme. It is a climate action initiative. It is a national productivity agenda,” he said.
The initiative comes against the backdrop of rising energy costs for Nigerian businesses, with many MSMEs increasingly dependent on self-generation to sustain operations. The cost of petrol and diesel used to power generators has become a significant component of operating expenses, limiting production capacity and putting pressure on jobs.
Mr Raji said the Tinubu Light Initiative was aligned with the Federal Government’s broader economic strategy of leveraging technology, innovation and entrepreneurship to boost domestic production and create sustainable employment.
At the event, he also highlighted the NextGen Innovation Challenge, which attracted thousands of applications from innovators across sectors including renewable energy, agriculture, artificial intelligence, biotechnology, healthcare, manufacturing, education, fintech, climate technology and industrial engineering.
He said the challenge was increasingly becoming a platform for connecting Nigerian innovators with investors and supporting the transition of promising technologies from research and development to commercial applications.
Mr Raji disclosed that an innovator who participated in the inaugural 2025 edition secured a £1.5 million investment commitment, while agricultural technologies developed through the programme are being deployed in Kaduna, Bauchi and other states to improve productivity and reduce post-harvest losses.
He said the NBTI would continue to leverage its network of Technology Incubation Centres to identify innovators, provide mentorship, facilitate technology transfer and support the commercialisation of indigenous technologies.
Mr Raji further announced that the NextGen Innovation Challenge had secured the support of the Commonwealth Secretariat, which would enable the programme to expand beyond Nigeria into a Commonwealth-wide initiative involving all 56 member countries.
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