Nigeria’s Inflation Rate Rises to 15.69% – NBS Report

By Emmanuel Kwada

Nigeria’s headline inflation rate increased to 15.69 per cent in April 2026, the National Bureau of Statistics (NBS) said on Friday.

According to the Consumer Price Index (CPI) released by the NBS, the April 2026 figure rose from 15.38 per cent recorded in March 2026. “In April 2026, the headline inflation rate rose to 15.69%, up from 15.38% in March 2026 and stood at 26.82% in the same month of the preceding year (April 2025),” the report stated.

The NBS noted a month-on-month increase of 0.31 percentage points compared to March. However, on a month-on-month basis, the headline inflation rate was 2.13 per cent in April, which was lower than the 4.18 per cent recorded in March.

“This means that in April 2026, the rate of increase in the average price level was lower than the rate of increase in the average price level in March 2026,” the bureau explained.

Food inflation, a major contributor to overall price levels, stood at 16.06 per cent on a year-on-year basis in April 2026, down from 24.68 per cent in April 2025. On a month-on-month basis, food inflation declined to 3.63 per cent from 4.17 per cent in March.

The NBS attributed the slower rise in food prices to changes in the average prices of several commodities. “This can be attributed to the rate of change in the average prices of the following products: millet whole grain, yam flour, ginger (fresh), beef, garri, yam tuber, pepper (fresh), crayfish, cassava tuber, beans, Irish potatoes, tomatoes (fresh), wheat grain (sold loose), soybeans, guinea corn, plantain, carrots (Fresh) etc.,” the report said.

On food inflation across the country, the NBS reported that on a year-on-year basis, it was highest in Enugu at 32.67 per cent, followed by Kwara at 30.77 per cent, and Adamawa at 30.14 per cent, while the slowest rises were recorded in Borno at 1.67 per cent, Jigawa at 6.17 per cent, and Taraba at 7.19 per cent. On a month-on-month basis, food inflation was highest in Niger, Bauchi, and Kogi, and lowest in Kebbi, Katsina, and Bayelsa.

The average annual rate of food inflation for the twelve months ending April 2026 was 17.55 per cent, which was 17.05 percentage points lower than the rate recorded in April 2025.

The latest inflation figures present a mixed outlook, showing a marginal rise in headline inflation month-on-month but a significant year-on-year decline. Nigerians, however, continue to face high living costs as food and other essential prices remain elevated despite the moderating trend.