Nigeria's Inflation Rate Drops to 15.10% in January 2026

According to the National Bureau of Statistics, Nigeria's headline inflation rate decreased to 15.10% in January 2026, down from 15.15% in December 2025, marking a 0.05% decline. This reduction is attributed to lower food prices, including items such as yam, eggs, green peas, and various oils.

The year-on-year inflation rate stood at 12.51%, significantly lower than the 27.61% recorded in January 2025. Month-on-month, the inflation rate for January 2026 was 2.88%, a decrease of 3.42% compared to December 2025.

The main contributors to the headline inflation were food and non-alcoholic beverages (6.04%), restaurants and accommodation services (1.95%), and transport (1.61%). The food inflation rate was noted at 8.89% year-on-year, with a month-on-month decrease of 6.02% compared to December 2025.

Dr. Muda Yusuf, Chief Executive Officer of the Centre for the Promotion of Private Enterprise, highlighted that the continuous drop in food prices significantly contributes to the Consumer Price Index (CPI) basket, benefiting consumers and farmers alike.