The National Bureau of Statistics (NBS) says Nigeria’s inflation rate dropped slightly in April 2025. This change was linked to a small decline in the average prices of food and other essential items.
According to the bureau, headline inflation stood at “23.71% in April, down from 24.23% in March 2025.” It explained that “the slight fall shows a slower rise in the general price level compared to the previous month.”
NBS also noted that this April figure was much lower than the number reported in April 2024. However, it clarified that “the previous year’s rate was calculated using an older method.”
Food Prices Fall, Giving Families a Bit of Relief
Food inflation, a major concern for most households, also eased. The report showed that prices of everyday food items like maize flour, okra, yam flour, rice, and beans either fell or increased more slowly.
“The food inflation rate dropped slightly to 2.06% in April from 2.18% in March,” the bureau said. Though food remains expensive, this drop offers some comfort to struggling families.
Averaged over a year, food prices are still high. But the pace of increase is beginning to slow. Experts say this could help many low-income earners who spend most of their income on food.
Urban areas also saw a decline in monthly inflation, with a slower rise in goods and services compared to March. Rural inflation followed the same trend, suggesting that price pressures are easing across the board.
Cautious Optimism About Economy
Economic experts say the latest inflation figures point to a possible turning point in Nigeria’s economic journey.
Prof. Muhammad Mainoma, an economist and former university vice chancellor, said the current inflation figure shows that government reforms may be starting to work.
“The recent easing of headline inflation is a positive signal, though still very modest,” he said. “It shows some progress in efforts to stabilise the economy.”
Mainoma warned that inflation remains too high and more work is needed to bring it under control. He called for “consistent policies and strong coordination between fiscal and monetary authorities.”
He added that the drop, though small, could improve business confidence. “It may help reduce costs for manufacturers and boost consumer spending,” he said.
According to him, if this trend continues, the Central Bank may ease interest rates. That could help support the stock market, create more jobs, and encourage small businesses.
Inflation Hotspots Remain
Despite the overall improvement, inflation remains high in some states. Enugu, Kebbi, and Niger recorded the highest inflation rates in April. Meanwhile, Ondo, Cross River, and Kwara saw the lowest.
For food inflation, Benue and Ekiti states faced the biggest price hikes. On the other hand, Ebonyi, Kano, and Ogun saw food prices drop significantly.
Experts say that while these numbers may vary by region, the nationwide drop in inflation could bring gradual economic relief if sustained over the coming months.
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