A decrease in prices for food, restaurants and accommodation services, and transport has led the slowdown, the government has said<\/p>\n
Nigeria\u2019s inflation has slowed to its weakest pace since mid-2022 as food costs eased, according to official data, offering a tentative reprieve after months of cost-of-living anger that has dogged President Bola Tinubu\u2019s reform drive.
\nThe headline inflation fell to 18.02% in September, down from 20.12% in August, the National Bureau of Statistics (NBS) reported on Wednesday.
\n\u201cThe food inflation rate in September 2025 was 16.87% on a year-on-year basis. This was 20.9% points lower compared to the rate recorded in September 2024 (37.77%),\u201d the bureau said.
\nIt cited lower average prices for staples including maize, beans, millet, potatoes, onions, eggs, tomatoes, and fresh pepper, as well as non-alcoholic beverages, restaurants and accommodation services, and transport as the biggest contributors to overall inflation.
\nLast month, the Central Bank of Nigeria cut its benchmark rate by 50 basis points to 27%, the first reduction since 2020, citing the disinflation trend, according to the bank\u2019s Monetary Policy Committee record.<\/p>\n
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Since taking office in May 2023, the West African country\u2019s leader, Tinubu, has rolled out sweeping economic reforms, including the removal of fuel subsidies and the unification of the currency\u2019s exchange rate, in a bid to restore fiscal balance and attract foreign investment. The measures pushed up transport and staple costs and set off protests over the rising cost of living across the country.<\/p>\n
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Earlier this month, during Nigeria\u2019s 65th Independence Day anniversary, Tinubu declared that \u201cthe worst is over,\u201d arguing that the reforms are beginning to deliver results. He said the economy grew by 4.23% in the second quarter of 2025 and cited higher oil output, record non-oil revenues, and a trade surplus as signs the country is diversifying beyond crude exports.
\nHowever, the World Bank said in a report last week that while Nigeria\u2019s external position has strengthened \u2013 with foreign reserves above $42 billion and a current account surplus of 6.1% of GDP \u2013 many households still face hardship. It added that poverty and food insecurity remain high because the gains have yet to translate into broad improvements in living standards.<\/p>\n
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A decrease in prices for food, restaurants and accommodation services, and transport has led the slowdown, the government has said Nigeria\u2019s inflation has slowed to its weakest pace since mid-2022…<\/p>\n","protected":false},"author":1,"featured_media":20591,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[4,6,3],"tags":[],"class_list":["post-20590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-environment","category-politics"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t