Nigeria has experienced a modest reduction in its inflation rate, according to new figures released by the National Bureau of Statistics (NBS).
The report, made public on Thursday, reveals that the country’s headline inflation rate stood at 23.71 per cent in April 2025, showing a slight decline from the 24.23 per cent recorded in March 2025.
The consumer price index (CPI), which measures the average change in the prices of goods and services over time, highlighted that the inflation rate dropped by 0.52 percentage points from the previous month.
On a monthly comparison, the inflation rate in April 2025 increased by 1.86 per cent. However, this was significantly lower than the 3.90 per cent rise noted in March.
This development indicates that while prices are still rising, the pace of the increase has slowed compared to the previous month.
The NBS explained that April’s lower inflation means consumers experienced a relatively smaller jump in the prices of everyday items than they did in March.
Economists and analysts are watching these figures closely, hoping the trend signals the beginning of more stable pricing across the country.