Nigeria’s inflation rate eased to 18.02% in September 2025, marking the first time in three years that inflation has fallen below the 20% threshold, the National Bureau of Statistics (NBS) announced on Wednesday.
The decline from 20.12% in August 2025 represents the sixth consecutive monthly reduction in the inflation rate, continuing a steady moderation trend since April 2025. On a month-on-month basis, overall prices increased by only 0.72%, reflecting a slowdown in price rises across key sectors of the economy.
Food inflation, which typically exerts significant pressure on household budgets in Nigeria, saw a notable drop of 1.57% month-on-month, indicating an actual decline in average food prices in September. This moderation in food prices contributed importantly to the overall easing of inflationary pressures.
Therefore, experts say this positive development has been supported by factors including currency stability, a good harvest season, and government interventions aimed at stabilizing prices. The drop below 20% inflation is expected to support further monetary policy easing, with analysts anticipating potential interest rate cuts in upcoming Central Bank meetings.
Despite the improvement, inflation remains high by international standards, posing ongoing challenges for Nigerian households and policymakers in balancing economic growth with price stability. The National Bureau of Statistics’ latest Consumer Price Index report highlights a cautious optimism that Nigeria’s inflation path is trending downward, but calls for continued efforts to sustain price stability and economic resilience.
