Nigeria’s inflation rate dropped to 18.02% in September, marking the lowest figure since 2022, according to the National Bureau of Statistics.
The NBS says the decline was driven by lower food prices and slower month-on-month increases.
Nigeria’s inflation rate eased to 18.02 percent in September 2025 from 20.12 percent in August, recording its sixth consecutive monthly decline, according to the National Bureau of Statistics (NBS).
This marks the first time in three years that the inflation rate has fallen below 20 percent.
“In September 2025, the Headline inflation rate eased to 18.02 percent relative to the August 2025 rate of 20.12 percent,” the NBS stated in its latest Consumer Price Index report.
Food inflation also declined sharply to 16.87 percent from 21.87 percent in August, reflecting lower average prices of maize, beans, garri, millet, tomatoes, and eggs.
On a year-on-year basis, headline inflation was 14.68 percent lower than the 32.7 percent recorded in September 2024, while the monthly inflation rate fell slightly to 0.72 percent.
Ekiti, Rivers, and Nasarawa recorded the highest food inflation, while Bauchi, Niger, and Anambra posted the slowest increases.