Nigeria’s headline inflation dropped to 23.71% in April 2025, down from 24.23% in March, according to the National Bureau of Statistics (NBS).
The agency noted that the April figure reflected a 0.52% decrease from the previous month. Year-on-year, headline inflation was 9.99% lower than the 33.69% recorded in April 2024.
“This shows that the Headline inflation rate (year-on-year basis) decreased in April 2025 compared to the same month in the preceding year (i.e., April 2024), though with a different base year, November 2009 = 100,” the NBS explained.
On a monthly basis, inflation stood at 1.86% in April, marking a 2.04% drop from the 3.90% recorded in March.
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“This means that in April 2025, the rate of increase in the average price level is lower than the rate of increase in the average price level in March 2025,” the report added.
Food inflation also saw a decline. On a year-on-year basis, it stood at 21.26%, which is 19.27 percentage points lower than April 2024’s 40.53%.
“The significant decline in the food annual inflation figure is technically due to the change in the base year,” the bureau clarified.
Month-on-month, food inflation was 2.06% in April, slightly down from 2.18% in March. The drop was linked to falling prices of key staples such as maize flour, wheat, okro, yam flour, soya beans, rice, and brown beans.
The average annual food inflation rate for the twelve months ending April 2025 was 31.43%, compared to 32.74% over the same period in 2024.