Nigeria’s inflation rate dropped to 22.97 per cent in May 2025, the National Bureau of Statistics has said. The figure represents a decline of 0.74 percentage points when compared to the 23.71 per cent recorded in April 2025. On a year-on-year basis, headline inflation fell by 10.98 percentage points from 33.95 per cent recorded in…
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says the Federal Government plans to reduce inflation rate to single digits and create more jobs. Edun stated this during a press conference addressed by the Nigerian economic team, as part of activities marking the end of the 2025 International Monetary Fund…
The International Monetary Fund (IMF) has projected that Nigeria’s headline inflation will average 26.5% in 2025, following a recent rebasing of the Consumer Price Index (CPI) by the National Bureau of Statistics (NBS). The inflation rate, although down from 33.2% in 2024, is expected to spike again to 37.0% in 2026. This forecast is contained…
Nigeria’s headline inflation rate surged to 24.23% in March 2025, according to data released by the National Bureau of Statistics (NBS) on Tuesday. This marks a significant increase from the 23.18% recorded in February 2025, demonstrating the persistent pressure on household incomes, rising food prices, and the broader cost of living across the country. The…
The National Bureau of Statistics (NBS) says Nigeria’s inflation rate declined to 23.18 percent in February, from 24.48 percent reported in January. NBS announced the decline in its February 2025 consumer price index (CPI) on Monday. The bureau said the headline inflation rate in February rose marginally by “1.30% points when compared to the January…
The Federal Government of Nigeria has called on traders across the country to reduce the prices of foodstuff in the market. The call by the Federal government comes shortly after it was announced that the inflation rate of the nation had dropped to 24.48 percent. Speaking during the 2025 Wheat Farmers Green Field Day at…
GISTSMATE MEDIA reports that Nigeria’s headline inflation has dropped to 24.48 per cent year on year in January 2025. This is a sharp decline from the 34.80 per cent headline inflation recorded in December 2024. This is according to the National Bureau of Statistics (NBS). The Statistician-General of the Federation Adeyemi Adeniran announced this on…
Nigeria’s Headline inflation rate climbed to 34.80% in December 2024, according to a report by the National Bureau of Statistics (NBS) on Wednesday. The headline inflation is slightly higher than the 34.60% recorded in November. The 0.20% increase was attributed to heightened demand for goods and services during the festive season. Compared to December 2023,…
The federal government has unveiled its strategy to reduce inflation from the current 34 percent in 2024 to a targeted 15 percent by the end of 2025. This was disclosed by a source at the Budget Office of the Federation deeply involved in the 2025 budget preparations. The source identified four key measures embedded in…
Nigeria’s annual inflation rate rose to 34.60 per cent in November from 33.88 per cent in October, the National Bureau of Statistics (NBS) said on Monday. This marks a continuation of the upward trend observed from September, when the nation recorded a reversal of a two-month decline. The statistics office said the November 2024…