While beans and some rice brands moved at Lekki-Jakande Market, the cooking oil shelf was a picture of stability. Power Oil ran a full ladder of pack sizes that held to the naira across every captured week from January through March. A 25 litre tin stayed at N68,000, the 10 litre at N33,000, the 5 litre at N17,500, the 3 litre at N11,000, the 2 litre at N8,500 and the 1.4 litre at N2,500. Golden Terra soya oil matched the calm, holding at N10,800 for 3 litres throughout. The one wobble was a single week in early February when the Power Oil 5 litre tin dipped to N12,000 before returning to N17,500, the kind of one-week reading best treated as a captured outlier rather than a trend.
Branded vegetable oil sat at the premium end, with a 5 litre tin of Kings recorded at N16,500 in early February and the 1 litre at N4,200. For a household budgeting around oil, the takeaway is that Lekki-Jakande offered a predictable shelf in a period when other staples did not.
That local steadiness is notable given the global backdrop. World Bank commodity data shows palm oil, the base for much of Nigeria's cooking oil, trading at multi-year highs through early 2026 on dry weather, firm demand and higher logistics costs. Branded packaged oils like Power Oil can hold a shelf price for stretches even as the underlying commodity firms, which is part of why the Lekki-Jakande ladder stayed put while world prices climbed. The pressure tends to arrive in steps rather than smoothly.
The wider food basket was still rising over the same period. The National Bureau of Statistics reported food inflation at 16.06% year on year in April 2026, back above the headline rate for the first time in eight months, which makes a flat oil shelf a small piece of relief in an otherwise climbing bill.
Live readings sit on the Lekki-Jakande Market real-time prices page, and shoppers can check current oil prices on the price check tool.