Nigeria’s headline inflation rate eased to 23.71 percent in April 2025, showing a slight drop from the 24.23 percent recorded in March. This decline was revealed in the latest Consumer Price Index (CPI) report published by the National Bureau of Statistics (NBS).
The report also notes a fall in food inflation, which decreased by 0.53 percentage points to 21.26 percent in April, down from 21.79 percent in March. This reduction is linked to the lower prices of several important food items such as maize flour, wheat grain, dried okro, yam flour, soya beans, rice, bambara beans, and brown beans.
According to the NBS, “The Consumer Price Index (CPI) rose to 119.52 in April 2025, reflecting a 2.18-point increase from the preceding month.” Despite this monthly increase in the index value, the overall inflation rate has dropped.
The report further notes that when comparing April 2025 with the same month last year, headline inflation is down by nearly 10 percentage points. Specifically, it was 33.69 percent in April 2024, meaning a significant decrease over the year. This comparison uses a different base year of November 2009 for its calculations.
Food inflation also saw a notable year-on-year reduction, falling from 40.53 percent in April 2024 to 21.26 percent in April 2025. The NBS explains that this sharp decrease is partly because of the change in the base year used to calculate inflation figures.
On a monthly basis, food inflation in April was recorded at 2.06 percent, slightly lower than the 2.18 percent noted in March. The report says, “The decrease can be attributed to the reduction in the average prices of key food items like Maize Flour, Wheat Grain, Okro Dried, Yam Flour, Soya Beans, Rice, Bambara Beans, and Brown Beans.”
