Nigeria’s Inflation Rate Drops to 18.02% in September — Sixth Consecutive Decline in 2025
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Nigeria’s headline inflation rate fell to 18.02 percent in September 2025, down from 20.12 percent recorded in August, according to the latest data released by the National Bureau of Statistics (NBS).
The report, contained in the NBS Consumer Price Index (CPI) and Inflation Data published on Tuesday, marks the sixth consecutive month of decline in the country’s inflation rate this year.
According to the NBS, the headline inflation eased by 0.72 percent month-on-month, while food inflation dropped by 1.57 percent within the same period.
“In September 2025, the headline inflation rate eased to 18.02 percent relative to the August 2025 rate of 20.12 percent,” the NBS said.
“The month-on-month headline inflation rate in September was 0.72 percent, while the food inflation rate was -1.57 percent.”
Economic analysts have attributed the decline to a moderation in food prices and improved foreign exchange stability in recent months.
Meanwhile, Bismarck Rewane, Chief Executive Officer of Financial Derivatives Company, in his latest economic outlook, projected that Nigeria’s inflation could further drop to 18 percent by November 2025, provided current macroeconomic trends persist.
However, the NBS cautioned that the recent increase in fuel and cooking gas prices may affect inflation performance in the coming months, with possible ripple effects on the cost of living.
