Nigeria’s inflation rate dropped to 23.18% in February 2025, down from 24.48% in January 2025, according to the Nigeria Bureau of Statistics (NBS). This represents a 1.30% decrease, but many Nigerians argue that the numbers don’t reflect reality.
Despite the official data, the cost of essential goods remains unbearably high. Prices of food, transport, and services continue to skyrocket, leaving citizens wondering if the reported decline is just another technical adjustment rather than real economic relief.
Food Inflation Still a Major Concern
The NBS report shows that food inflation in February 2025 was 23.51% on a year-on-year basis. While this is lower than the February 2024 rate of 37.92%, the truth is, food prices are still increasing.
“Compared to January 2025, there was a decline in the prices of yam, potatoes, soya beans, maize flour, cassava, and bambara beans,” the NBS stated. However, this so-called drop in food prices isn’t translating into cheaper food for the average Nigerian.
Nigerians are still spending more on food than they did last year, making the government’s inflation figures feel out of touch with reality.
Real Impact: Nigerians Struggle Despite Inflation Drop
While the NBS claims inflation has slowed, everyday Nigerians continue to feel the financial squeeze. The cost of transportation, electricity, and rent remains unbearably high, pushing many families deeper into hardship.
Economic analysts argue that the inflation rate drop is mostly due to technical calculations and base-year changes, not real economic progress. If things were truly improving, Nigerians wouldn’t be struggling to afford basic needs.
Despite the reported 23.18% headline inflation rate, the reality on the ground tells a different story. Until Nigerians see actual price reductions in their daily expenses, this so-called improvement remains nothing more than statistics on paper
