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Nigeria’s Inflation Falls to 24.48% as New CPI Methodology Takes Effect

Nigeria’s headline inflation rate fell to 24.48% year-on-year in January 2025, marking a sharp decline from the 34.80% recorded in December 2024. The National Bureau of Statistics (NBS) disclosed this in its latest report, with the Statistician-General of the Federation, Adeyemi Adeniran, making the announcement on Tuesday. Speaking at a press briefing in Abuja, Adeniran […]

Rising Inflation, Energy Costs Leave Manufacturers with Unsold Goods Worth Trillions

The Manufacturers Association of Nigeria (MAN) has reported a staggering accumulation of unsold goods totalling ₦1.4 trillion across industries in 2024. The association’s President, Francis Meshioye, attributed the development to rising inflation and declining consumer purchasing power. Speaking at the 2025 Media Personality of the Year Award and Presidential Luncheon in Lagos, Meshioye detailed the […]

Inflation Hits 32.7% as Food and Energy Prices Skyrocket

Nigeria’s inflation rate has surged to 32.7% in September, following a brief two-month decline, according to data released yesterday by the National Bureau of Statistics (NBS). The Consumer Price Index (CPI), which tracks the rate of change in the prices of goods and services, rose from 32.15% in August. The year-on-year increase is even more […]