BREAKING: Nigeria’s inflation rate drops to 16%

Nigeria recorded a dramatic slowdown in inflation in October 2025, with the headline rate easing to 16.05%, down from 18.02% in September, according to the latest Consumer Price Index (CPI) released by the NBS. The decline represents a 1.96 percentage point drop month‑on‑month.

On a year‑on‑year basis, the October 2025 inflation rate was 17.82 percentage points lower than the 33.88% recorded in October 2024, highlighting a significant improvement in price stability. The NBS noted that this was achieved despite ongoing pressures in certain sectors, and it reflects better supply conditions and stabilizing market dynamics.

The report also revealed that food inflation eased slightly, recording a rare month‑on‑month decline of –0.37%, offering some relief to households that have been burdened by rising food costs. However, the headline inflation still showed a 0.93% month‑on‑month increase, indicating that while the overall trend is downward, price pressures remain in specific categories.

Analysts say the sustained decline in inflation throughout 2025 suggests that government interventions, improved agricultural output, and stronger currency management are beginning to yield results. The October figure is the lowest inflation rate since 2017, a milestone that could boost investor confidence and ease the strain on consumers.