Nigeria's Inflation Rate Drops to 15.1% in January 2026

In January 2026, Nigeria's inflation rate fell to 15.1%, a slight decrease from 15.15% in December 2025, according to the National Bureau of Statistics (NBS). This decline of 0.05 percentage points reflects a significant year-on-year drop of 12.51 percentage points from 27.61% in January 2025.

The Consumer Price Index (CPI) reported a month-on-month inflation rate of 2.88%, compared to 0.54% in December 2025, indicating a notable slowdown in food inflation, which decreased by 8.89% year-on-year and 6.02% month-on-month. The decline in inflation is attributed to lower prices of staple food items such as yam, eggs, maize, beans, beef, cassava, palm oil, and groundnut oil.

The report highlights that while inflationary pressures have eased, they remain uneven across different regions, with some areas recording significantly higher inflation rates, such as 22.48%, 20.98%, and 19.25%.