Nigeria's Inflation Rate Drops to 15.10% in January 2026

Nigeria's inflation rate has significantly decreased to 15.10% in January 2026, down from 34.8% in December 2024, as reported by the National Bureau of Statistics (NBS). This decline is largely attributed to effective monetary policies and structural reforms implemented by the Central Bank of Nigeria (CBN).

The CBN's Monetary Policy Committee (MPC) is expected to prioritize macroeconomic stability and accelerate disinflation efforts. The CBN Governor, Olayemi Cardoso, noted that the MPC retained the benchmark interest rate at 27% to consolidate recent progress in stabilizing prices and the exchange rate.

The CBN's actions reflect a strategic commitment to restoring macroeconomic stability amid fiscal pressures. The MPC's decisions, including maintaining the cash reserve ratio and adjusting the monetary policy rate corridor, aim to support the naira and enhance capital inflow, which is crucial for job creation and economic growth.