Nigeria’s headline inflation rate declined to 23.71% in April 2025, down from 24.23% in March, according to the latest Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS). The food inflation rate also dropped by 0.53 percentage points to 21.26%, driven by lower prices of staple foods such as maize, wheat, okro, yam flour, soya beans, rice, and beans.
The CPI increased to 119.52 in April, reflecting a 2.18-point rise from the previous month. Year-on-year, Nigeria’s inflation rate decreased by nearly 10 percentage points from 33.69% in April 2024 to 23.71% in April 2025, partly due to a change in the base year for calculations. On a monthly basis, food inflation edged down slightly from 2.18% in March to 2.06% in April, mainly because of falling prices of key food items.
The decline in both overall and food inflation is positive for consumers, but analysts emphasize the need for continued policy efforts to maintain price stability in the months ahead.