Nigeria’s headline inflation rate fell to 23.71 per cent in April 2025, down by 0.52 percentage points from 24.23 per cent recorded in March, according to the latest data from the National Bureau of Statistics (NBS).
On a year-on-year basis, the inflation rate in April 2025 was 9.99 percentage points lower than the 33.69 per cent recorded in the same month last year, signalling a significant easing in price pressures compared to April 2024.
The NBS also noted that the monthly inflation rate decreased to 1.86 per cent in April 2025, down from 3.90 per cent in March, indicating a slower increase in average prices from one month to the next.
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Food inflation showed a similar downward trend, falling to 21.26 per cent year-on-year in April 2025 from 40.53 per cent in April 2024. This sharp decline is partly due to a change in the base year used for calculations.
Month-on-month, food inflation eased slightly to 2.06 per cent in April 2025 from 2.18 per cent in March. The drop was driven by falling prices in staples such as maize flour, wheat grain, okra, yam flour, soya beans, rice, bambara beans, and brown beans.
The average annual food inflation rate for the 12 months ending April 2025 stood at 31.43 per cent, marginally lower than the 32.74 per cent recorded for the previous year.
These figures highlight a gradual easing of inflationary pressures in Nigeria, offering some relief to consumers and policymakers focused on stabilising the economy.
