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.
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.
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.
