BREAKING: Nigeria’s Inflation Rate Drops To 23.18%

The National Bureau of Statistics (NBS) says Nigeria’s inflation rate declined to 23.18 percent in February, from 24.48 percent reported in January.

NBS announced the decline in its February 2025 consumer price index (CPI) on Monday.

The bureau said the headline inflation rate in February rose marginally by “1.30% points when compared to the January 2025 headline inflation rate”.

“In February 2025, the Headline inflation rate eased to 23.18% relative to the January 2025 headline inflation rate of 24.48%,” NBS said.

“Looking at the movement, the February 2025 Headline inflation rate showed a decrease of 1.30% compared to the January 2025 Headline inflation rate.