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Home Business & Finance

Nigeria Inflation Rate Drops in April 2025

Eriki Joan UgunushebyEriki Joan Ugunushe
May 15, 2025
in Business & Finance
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Nigeria Inflation Rate Drops in April 2025
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Nigeria’s inflation rate dropped slightly to 23.71% in April 2025, according to the latest report from the National Bureau of Statistics (NBS). This marks a modest relief from the March figure of 24.23%, giving Nigerians a brief break from the intense pressure of rising prices.

Table of Contents

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  • Slight Ease in Food Prices
  • Core Inflation Slows Down
  • Criticism Over Real-World Impact
  • Bottom Line

Slight Ease in Food Prices

The NBS report shows food inflation also eased to 21.26% in April from 21.79% in March. This decline, though small, was triggered by falling prices in key staples like maize flour, wheat grain, dried okra, yam flour, soya beans, rice, bambara beans, and brown beans. On a month-to-month basis, food inflation went down to 2.06%, compared to 2.18% in March.

Nigeria Inflation Rate Drops in April 2025

Core Inflation Slows Down

Core inflation, which excludes food and energy prices, also declined sharply to 23.39% year-on-year in April, from 24.43% in March. Month-on-month, it dropped to 1.34% from 3.73%. According to the NBS, “This means that in April 2025, the rate of increase in the average price level is lower than the rate of increase in the average price level in March 2025.”

Criticism Over Real-World Impact

While the NBS figures offer a technical slowdown, the average Nigerian may not feel the difference. Food remains expensive, transport costs are still high, and salaries remain stagnant. Experts say this kind of easing is only visible on paper. A Lagos-based analyst said, “What Nigerians need is not just a decimal drop in statistics but a real change in their daily spending power.”

Bottom Line

Despite the reported drop in headline, food, and core inflation, Nigerians are still battling with unaffordable markets and rising living costs. The April 2025 drop in inflation is a statistical improvement but far from a solution to the country’s economic hardship. Until it reflects on the prices of garri, rice, or even bread in the local market, these numbers may only serve as good news for those in air-conditioned offices.

Tags: federal characterFinanceInflation RateNewsNigeria
Eriki Joan Ugunushe

Eriki Joan Ugunushe

Eriki Joan Ugunushe is a dedicated news writer and an aspiring entertainment and media lawyer. Graduated from the University of Ibadan, she combines her legal acumen with a passion for writing to craft compelling news stories.Eriki's commitment to effective communication shines through her participation in the Jobberman soft skills training, where she honed her abilities to overcome communication barriers, embrace the email culture, and provide and receive constructive feedback. She has also nurtured her creativity skills, understanding how creativity fosters critical thinking—a valuable asset in both writing and law.

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