Nigeria's Inflation Rate Drops to 15.06% in February 2026

According to the National Bureau of Statistics (NBS), Nigeria's inflation rate dropped to 15.06% in February 2026, a decrease of 0.04 percentage points from 15.10% in January 2026. On a year-on-year basis, this figure is 11.21 percentage points lower than the 26.27% recorded in February 2025.

However, the report indicates that the month-on-month inflation rate increased by 2.01% from January to February 2026, marking a rise of 4.89 percentage points compared to January 2026's rate of 2.88%. Food inflation stood at 12.12% year-on-year, which is 14.86 percentage points lower than the 26.98% recorded in February 2025.

Month-on-month, food inflation rose by 4.69% in February 2026, representing a 10.70 percentage point increase compared to January 2026's rate of 6.02%. The increase in food prices was attributed to the rising costs of several food items, including beans, carrots, okazi leaves, cassava tubers, crayfish, millet flour, yam flour, dried snails, ogbono, and cowpeas.

The average annual food inflation rate for the 12 months ending February 2026 was 19.08%, a decline of 18.31 percentage points from the 37.40% recorded in February 2025.