Nigerian Presidency Hails Inflation Rate Drop for Fifth Month - Reform Program Progress

The Nigerian Presidency has responded to the National Bureau of Statistics' report showing a fifth consecutive month of decline in the country's inflation rate. Special Assistant to President Bola Tinubu, Daniel Bwala, praised the government's reform efforts, stating that Nigerians are beginning to see signs of economic recovery.

Despite the overall moderation, food prices continued to rise, highlighting ongoing pressure on households. Since 2023, President Tinubu has implemented significant reforms, including the removal of fuel subsidies and the adoption of a floating naira policy.

While these measures have faced criticism for increasing hardships, the government maintains they are necessary for economic stability.