Nigeria’s headline inflation rate dropped to 23.71% in April 2025, a 0.52% decrease from 24.23% in March 2025, according to the National Bureau of Statistics (NBS). The decline marks a notable slowdown in the rising cost of goods and services across the country.
The NBS report, released today, also highlighted a month-on-month inflation rate of 1.86% in April, down 2.04% from 3.90% in March. Food inflation saw a significant year-on-year decrease to 21.26%, a 19.27% drop from 40.53% in April 2024, driven by lower prices for staples like maize flour, wheat grain, and rice. The NBS attributed part of this decline to a change in the base year for inflation calculations.
Regionally, food inflation varied widely. Benue recorded the highest year-on-year rate at 51.76%, followed by Ekiti (34.05%) and Kebbi (33.82%). Meanwhile, Ebonyi (7.19%), Adamawa (9.52%), and Ogun (9.91%) saw the slowest increases.
The reduction in inflation offers some relief to Nigerian households, though high living costs persist. Analysts will continue to monitor whether this trend signals broader economic stabilization.
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