Nigeria’s inflation rate fell to 23.7 percent in April 2025, representing a slight decrease from the 24 percent recorded in March.
The National Bureau of Statistics (NBS) released the data on Thursday, highlighting this positive shift in the country’s economic indicators.
The decline in inflation reflects a modest improvement in the prices of goods and services across Nigeria. The consumer price index, which measures the average change in prices paid by consumers, showed that food inflation decreased to 27.9 percent in April from 29.1 percent the previous month. This reduction was attributed to improvements in food supply and distribution.
Core inflation, which excludes volatile food and energy prices, also decreased slightly, signaling underlying stability in the economy.
The data suggests that efforts by the Central Bank of Nigeria (CBN) and the government to control inflation are beginning to yield results. These efforts include tightening monetary policy and improving local production.
Despite the positive trend, the inflation rate remains significantly high compared to global standards and continues to pose challenges for Nigerians, especially low-income households who spend a larger portion of their income on food and basic necessities.
The Nigerian government has pledged to maintain policies that stabilize prices and support economic recovery, focusing on agriculture, infrastructure, and supply chain improvements to keep inflation in check in the coming months.
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cc: Daily Post Ng
