Nigeria’s inflation rate dropped slightly to 23.71% in April 2025, signaling a bit of relief for consumers after months of rising prices. This marks a decline of 0.52 percentage points from the 24.23% recorded in March.
The latest data from the National Bureau of Statistics (NBS) shows that food inflation also slowed down, falling from 21.79% in March to 21.26% in April. This drop was linked to lower prices of essential food items such as maize flour, wheat grain, dried okro, yam flour, soya beans, rice, bambara beans, and brown beans.
In its Consumer Price Index (CPI) report, the NBS stated that the CPI rose to 119.52 in April, a slight increase from the previous month. However, the year-on-year figures show a more promising trend.
Compared to April 2024, when inflation stood at 33.69%, the current rate is 9.99 percentage points lower. Similarly, food inflation dropped sharply year-on-year from 40.53% in April 2024 to 21.26% in April 2025—a 19.27 percentage point decline. The NBS explained that the drop was partly due to a revision in the base year used for calculation.
Month-on-month, food prices also inched down by 0.12%, from 2.18% in March to 2.06% in April.
While this dip in inflation brings cautious optimism, experts warn that consistent and sound economic policies will be key to maintaining stability in the months ahead.
