Nigeria Inflation Rises to 15.69% in April as Monthly Pace Slows

Nigeria's headline inflation rose to 15.69% in April 2026, up from 15.38% in March, according to the National Bureau of Statistics. Despite the year-on-year increase, the month-on-month rate slowed significantly to 2.13% from 4.18% in March, signaling a moderation in the pace of price increases. The April 2026 figure remains far below the 26.82% recorded in April 2025, a drop attributed to the rebasing of the Consumer Price Index to a 2024 base year.

Food inflation stood at 16.06% year-on-year, down sharply from 24.68% a year earlier, though still driven by higher prices for staples including millet, yam flour, beef, beans, and tomatoes. The average annual food inflation rate for the 12 months ending April 2026 eased to 17.55%, compared with 34.60% in April 2025. Rural inflation outpaced urban areas, at 16.36% versus 15.40%.

Regional disparities remained stark. Sokoto recorded the highest year-on-year all-items inflation at 25.74%, followed by Bauchi at 22.52% and Zamfara at 22.03%. Edo posted the lowest rate at 5.91%, with Borno at 6.72% and Jigawa at 7.04%. Prior to the official release, research firm Parthian had forecast a slightly higher rate of 15.85%. The National Bureau of Statistics attributed the overall inflation trend to rising costs in food, transport, and hospitality services.