Nigeria’s Inflation Rate Drops To 23.18%, Says NBS

The National Bureau of Statistics (NBS) said on Monday that Nigeria’s inflation rate declined to 23.18 per cent in February, from 24.48 per cent reported in January 2025.

The NBS announced the decline in its February 2025 consumer price index (CPI) report 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 per cent relative to the January 2025 headline inflation rate of 24.48 per cent, NBS stated.

The Bureau said: “Looking at the movement, the February 2025 Headline inflation rate showed a decrease of 1.30 per cent compared to the January 2025 Headline inflation rate.

“On a year-on-year basis, the Headline inflation rate was 8.52 per cent lower than the rate recorded in February 2024 (31.70 per cent).

“This shows that the Headline inflation rate (year-on-year basis) decreased in February 2025 compared to the same month in the preceding year (i.e., February 2024), though with a different base year, November 2009 = 100.

“Furthermore, on a month-on-month basis, the Headline inflation rate in February 2025 stood at 2.04 per cent.”

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Nigeria’s Inflation Rate Drops To 23.18%, Says NBS is first published on The Whistler Newspaper