Nigeria’s inflation drops to 15%

The National Bureau of Statistics (NBS) said on Monday that Nigeria’s inflation rate decreased slightly from 15.1 percent in January to 15.06 percent in February.

The development was contained in the NBS consumer price index (CPI) report for February, released in Abuja.

According to the statistics agency, the CPI, which measures the rate of change in prices of goods and services, fell by 0.04 percent (month on month) compared to the general inflation rate in January 2026.

“On a year-on-year basis, the headline inflation rate was 11.21% lower than the level recorded in February 2025 (26.27%),” the bureau said.

READ ALSO: UPDATED: NRC confirms Abuja-Kaduna train crash

“This shows that the CPI inflation rate (year-on-year) in February 2026 has decreased compared to the same month the previous year (namely February 2025).

“On a monthly basis, the headline inflation rate in February 2026 was 2.01%, 4.89% higher compared to the rate recorded in January 2026 (-2.88%).

This means that in February 2026, the rate of increase in the average price level is higher than the rate of increase in the average price level in January 2026.

The statistics agency said the average percentage change in the CPI for the twelve months ending February 2026 compared to the average of the previous twelve month period was 21.03 percent, showing an increase of 3.02 percent compared to 18.01 percent recorded in February 2025.

By: Babajide Okeowo