Nigeria’s Inflation Drops to 15.06%

Nigeria’s inflation rate eased to 15.06 per cent in February 2026, down from 15.10 per cent in January.

The National Bureau of Statistics, NBS, disclosed this in its February Consumer Price Index and inflation report released on Monday.

According to the NBS, the country’s headline inflation declined by 0.04 percentage points on a month-to-month basis.

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However, food inflation rose to 12.12 per cent in February from 8.89 per cent the previous month.

“February 2026, the headline inflation rate eased to 15.06 per cent, down from 15.10 per cent in January 2026.

“On a month-on-month basis, the headline inflation rate in February 2026 was 2.01%, which was 4.89% higher than the rate recorded in January 2026 (-2.88%).

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“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,” NBS stated.

The Financial Derivatives Company, FDC, had earlier forecasted that February’s headline inflation would drop to 14.07 per cent.