Nigeria’s Inflation Drops to 15.1% as Food Prices Record Sharp Decline

Nigeria’s inflation rate continued its downward trend in January 2026, easing to 15.1% from 15.15% in December 2025, according to data from the National Bureau of Statistics (NBS).

The slight decline signals a moderation in price pressures, with the statistics agency noting a 0.05 percentage-point drop in headline inflation.

On a year-on-year basis, inflation fell sharply by 12.51 percentage points, down from 27.61% in January 2025, highlighting improving macroeconomic price conditions.

Food inflation saw the biggest slowdown, falling from 29.63% in December 2025 to 8.89%, driven by lower prices of key staples such as maize, beans, palm oil, cassava, and beef.

State-level analysis revealed regional disparities: Kogi and Benue in the North-Central region, and Adamawa in the North-East recorded the highest food inflation, while Ebonyi, Abia, and Imo in the South-East posted the lowest.

The latest figures suggest easing inflation pressures early in 2026, with falling food prices providing cautious relief for consumers and policymakers.