Nigeria's Inflation Declines Slightly to 15.91% in June 2026

The headline inflation rate in Nigeria decreased to 15.91% in June 2026 from 15.93% in May 2026, according to the latest Consumer Price Index report released by the National Bureau of Statistics. This marks the first decline in three consecutive months of inflation increases.

However, the overall inflation rate remains in double digits, with food prices rising significantly, driven by increased costs of fresh pepper, tomatoes, crayfish, beef, garri, and yam. Ley Kupoluyi, President of the Lagos Chamber of Commerce and Industry, welcomed the slight decline but warned that inflation remains a concern for consumers and businesses.

Dr. Femi Egbesola, President of the Association of Small Business Owners of Nigeria, attributed the decline to seasonal factors and lower energy costs.

However, he cautioned that this trend may not be sustainable without government support for agriculture and improved irrigation. Ek Ubiji, Director General of the Nigerian Association of Small and Medium Enterprises, disagreed, stating that inflation remains high despite the marginal decline.