Nigeria Records Marginal Drop In Inflation To 15% — NBS

Nigeria’s inflation rate dropped slightly from 15.1 percent in January to 15.06 percent in February 2026, according to the latest Consumer Price Index (CPI) report released on Monday by the National Bureau of Statistics (NBS).

The bureau said the marginal decline represents a 0.04 percent decrease on a month-on-month basis compared to the headline inflation rate recorded in January 2026.

According to the NBS, the CPI which measures the average change in prices of goods and services over time also showed a significant improvement on a year-on-year basis.

“On a year-on-year basis, the headline inflation rate was 11.21 percentage points lower than the rate recorded in February 2025 (26.27 percent),” the bureau stated.

The agency noted that this indicates a reduction in the overall inflation rate in February 2026 when compared with the same month in the previous year.

However, the report also showed that month-on-month inflation increased, suggesting prices rose faster in February than in January.

“On a month-on-month basis, the headline inflation rate in February 2026 was 2.01 percent, which was 4.89 percentage points higher than the rate recorded in January 2026 (-2.88 percent),” the report said.

“This means that in February 2026, the rate of increase in the average price level was higher than the rate of increase in the average price level in January 2026.”

The NBS added that the average CPI for the 12 months ending February 2026 rose by 21.03 percent, compared with the 18.01 percent recorded in February 2025, representing a 3.02 percentage-point increase over the previous 12-month period.