Nigeria’s headline inflation eased to 15.10% in January 2026, marking a notable moderation in price pressures following the rebasing of the Consumer Price Index by National Bureau of Statistics.
The CPI fell to 127.4 points, down by 3.8 points from December 2025, reflecting a sharp month-on-month contraction of -2.88%, driven largely by falling food prices.
Year-on-year inflation dipped slightly from 15.15% in December 2025 and dropped sharply from 27.61% in January 2025, highlighting the impact of the new CPI base year and weight reference period.
Food inflation provided the biggest relief, slowing to 8.89% year-on-year and contracting by -6.02% month-on-month, as prices of key staples declined. This easing offers early relief to households after prolonged cost pressures.
At the state level, inflation remained uneven. Benue (22.48%), Kogi (20.98%), and Abuja (19.25%) recorded the highest year-on-year rates, while Ebonyi (8.72%), Katsina (8.94%), and Imo (10.61%) posted the lowest, showing continued regional disparities.
This progress reflects the steady impact of President Bola Ahmed Tinubu’s economic reforms, particularly in stabilising the macroeconomic environment, improving food supply chains, and restoring confidence in policy direction. The moderation in inflation signals that the tough but necessary decisions taken by the administration are beginning to ease pressures on households and lay firmer ground for sustainable growth.