The National Bureau of Statistics (NBS) has reported a marginal decline in Nigeria’s headline inflation rate, which eased to 15.06% in February 2026, down from 15.10% in January 2026.
- Consumer Price Index (CPI): The CPI rose to 130.0 in February from 127.4 in January, reflecting a 2.6‑point increase.
- Year‑on‑Year Decline: Inflation dropped sharply compared to February 2025, when the rate stood at 26.27%, marking an 11.21 percentage‑point decrease.
- Monthly Trend: Despite the yearly slowdown, prices rose faster on a monthly basis, with month‑on‑month inflation at 2.01% in February, compared to a decline of 2.88% in January.
- Key Drivers: Food and non‑alcoholic beverages contributed the largest share (6.03 percentage points), followed by restaurants and accommodation services (1.95), transport (1.61), housing and utilities (1.27), and education (0.93).
- Urban vs Rural: Urban inflation stood at 15.53% year‑on‑year, while rural inflation was lower at 13.93%. On a monthly basis, urban inflation rose to 2.55%, while rural inflation increased to 0.71%.
The NBS emphasized that food prices remain the dominant driver of inflation, underscoring the need for targeted policies to stabilize household consumption.
