Cooking oil was the standout move at Oshodi Market in the first four months of 2026. A 5 litre bottle of Kings vegetable oil sold for N12,000 in the week of January 12 and reached N18,500 by the week of April 13, a rise of 54.2 percent. Most of that gap was a catch-up rather than a fresh shock. Other Lagos markets were already trading oil at that higher band early in the year, with a 5 litre bottle at N18,500 at Mushin Market in the week of January 19 and at N18,000 at Ketu in the same week. Oshodi opened the year among the cheapest floors, level with Agege, Epe Main and Mojoda at N12,000 in the week of January 12, then converged on the citywide level by April.
Grains and beans moved the other way at Oshodi. A 25kg bag of imported short grain rice fell from N51,500 in the week of January 26 to N32,500 by the week of April 13, a steep decline of 36.9 percent, while the 50kg bag eased more gently from N70,000 to N65,000, down 7.1 percent. Beans softened in retail measures, with a paint bucket of Oloyin dropping from N6,500 to N4,500, a fall of 30.8 percent, and a paint bucket of Drum beans from N6,000 to N4,500, down 25.0 percent. Branded long grain bags had pushed higher earlier in January before the wider easing, a 50kg bag of Big Bull rising from N55,000 to N62,500 between the weeks of January 12 and January 26, a gain of 13.6 percent, with Mama Gold and Royal Stallion each moving from N55,000 to N60,000 over the same weeks, up 9.1 percent.
Same-week comparisons show where Oshodi sat against its neighbours. In the week of April 13, a 50kg bag of Oloyin beans cost N60,000 at Oshodi against N65,000 at Agege Market, leaving Oshodi buyers N5,000 ahead on beans. Short grain rice ran the reverse, with the same April 13 week putting a 50kg bag at N65,000 at Oshodi against N54,000 at Agege, a difference of N11,000 the other way.
The oil climb reflects pressure on a household essential even as staples eased. The National Bureau of Statistics reported food inflation of 16.06 percent for April 2026, the first month since August 2025 that food ran ahead of the 15.69 percent headline rate. Cooking oil, now largely produced locally, still carries input and packaging costs sensitive to the naira, which helps explain why it firmed while imported rice tracked lower on heavier supply, a softening Nairametrics recorded across several markets in its early May survey.
See how oil and rice compare across markets with the FoodPrices compare tool, check older readings on historical prices, or open live figures on the Oshodi Market price page.