CBN blames the inflation crisis on insecurity, infrastructure deficit.

CBN blames the inflation crisis on insecurity, infrastructure deficit.

The central bank of Nigeria (CBN) in it a periodic economic update issued in the economic relationship of the Q4 2024 has blamed the inflation crisis in progress of Nigeria on insecurity and on infrastructure deficits.

The report made available to the basic journalists on Monday 31 March 2025 states: “Inflation remained high in the fourth quarter of 2024, since both the food and non -food components of the CPI basket increased”.

“The inflation of the title climbed to 34.80% on an annual basis, compared to 32.70% in the previous quarter, led by higher energy costs and pass-through exchange rate. Other factors that contribute included accumulation, insecurity and infrastructure challenges,” says the report.

The report also stressed: “Inflation remained widely distributed among the components of the CPI basket during the revision period, with analytical tests that indicate an increase in its pervasiveness. In particular, 74.62% of the articles in the CPI basket exceeded the historical average of 14.60% (2010-2023), compared to 70.14% in the previous neighborhood.”

However, the report stated that the inflation of Nigeria should moderate starting from 2025.

Speaking to a briefing printing in Abuja, the general statistical of the Federation and CEO of the NBS, Adeymi Adeniran, has attributed the decline to the recent replying of re -facts of the inflation basket of Nigeria.

This move aimed to align the measurement of the country’s inflation with global standards.

“The last time Nigeria reduced its calculation of inflation was in 2009, which means that the prices of the goods of that period were still used as a reference,” explained Adeniran.

He added: “This update allows methodological improvements that improve accuracy and guarantee consistency with the best international practices”.

Although the Nigerian government has reported a drop in inflation figures, the Nigerians continue to complain about the increase in the cost of living.

The Nigerians also complained of insecurity, including attacks on farmers from criminal shepherds.