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

According to the latest Consumer Price Index report released by the National Bureau of Statistics (NBS), Nigeria's headline inflation rate fell to 15.06% in February 2026, a slight decrease of 0.04 percentage points from 15.10% in January 2026. This figure represents a significant reduction of 11.21 percentage points compared to the 26.27% recorded in February 2025, indicating a gradual easing of inflationary pressures.

However, the report also noted that the prices of goods and services increased month-on-month, with a 2.01% rise in February 2026 compared to January 2026, marking a significant increase of 4.89 percentage points. Food inflation stood at 12.12% in February 2026, a substantial drop of 14.86 percentage points from 26.98% in February 2025, although it rose by 4.69% month-on-month.

The increase in food prices was attributed to rising costs of various food commodities, including beans, carrots, and cassava tubers. The average annual food inflation rate for the 12 months ending February 2026 was 19.08%, reflecting a decline from 37.40% in February 2025.