Nigeria's Inflation Rate Drops to 18.02% in September 2025, Food Inflation Declines

Nigeria's inflation rate decreased to 18.02% in September 2025, showing a notable drop from the previous year. The annual food inflation rate also saw a significant decline due to a change in the base year.

Lukman Otunuga, a senior research analyst at FXTM, forecasted a positive outlook for Nigeria's economy, expecting further rate cuts by the Central Bank of Nigeria (CBN) to stimulate economic growth amidst softer food prices and a strengthened naira. This decline in inflation could pave the way for economic expansion.