Nigerian inflation dropped to 23.7%

The National Statistics Bureau (NBS) has announced a slight decrease in Nigerian headline inflation level to 23.71 percent in April.

It fell from 24.23 percent in March. NBS revealed this in the Consumer Price Index (CPI) report which was released on Thursday in Abuja.

According to the bureau, the movement for April “Headline inflation rate shows a 0.52% decrease compared to. One for March.

“As a month-to-month, the headline inflation rate in April 2025 was 1.86%, which was 2.04%lower than the tariff recorded in March 2025 (3.90%),” NBS said.

“This means that in April 2025, the rate increase in price levels averaged lower than the average price increase in March 2025.”

NBS further said the food inflation rate in April was 21.36 percent every year.

This, said the bureau is 19.27 percent lower than the tariff recorded in April 2024 (40.53 percent).

“A significant decrease in the annual food inflation rate is technically caused by changes in the basic year,” said the agency.

“However, every month, the food inflation rate in April 2025 is 2.06%, down 0.12%compared to March 2025 (2.18%).

Also read: IMF Recommended strict monetary policy to reduce Nigerian inflation

“The decline can be caused by the level of decrease in the average price of corn flour (corn), seeds of wheat, dry okra, sweet potato flour, soybeans, rice, bambara beans, chocolate beans, etc.”

The report said that in April 2025, food inflation every year was the highest in Benue (51.76 percent), Ekiti (34.05 percent), and Kebbi (33.82 percent), while Ebonyi (7.19 percent), Adamawa (9.52%), and Ogun (9.9 percent), recorded it.

However, every month, NBS said the highest food inflation in Benue (25.59 percent), Ekiti (16.73 percent), and Yobe (13.92 percent).

The bureau added that Ebonyi (-14.43 percent), Kano (-11.37 percent) and Ogun (-7.06 percent), recorded a decrease in food inflation.

By: Babajide Okeowo

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