Nigeria’s headline inflation eased to 20.12 per cent in August 2025, down from 21.88 per cent in July, according to new data released by the National Bureau of Statistics (NBS).
The figures represent a 1.76 percentage point decline compared to the July rate, offering some relief after months of rising prices across the country.
The NBS report noted that on a month-on-month basis, the headline inflation rate in August stood at 0.74 per cent, lower than the 1.99 per cent recorded in July. This indicates that while prices continued to rise, they did so at a slower pace.
Food inflation on a monthly basis was put at 1.65 per cent, reflecting continued pressures in the cost of essential food items.
Year-on-year, headline inflation was 12.03 per cent lower than the 32.15 per cent recorded in August 2024. The statistics office explained that this decline reflected a different base year (November 2009 = 100), but nonetheless showed that prices in August 2025 grew at a slower pace compared to the same period last year.
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The Consumer Price Index (CPI) rose to 126.8 points in August, up from 125.9 in July, representing a 0.9-point increase.
Despite the moderation, many Nigerians continue to grapple with the high cost of living. Calls have grown louder for the Federal Government to roll out measures that would cushion the impact of rising prices, particularly for low-income households.
In August, the Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, urged President Bola Tinubu’s administration to prioritise social protection for citizens affected by economic reforms.
“We think that the President and his team have worked hard to stabilise the economy. You cannot really improve an economy unless it is stable, so he has to be given credit for that,” she told newsmen after meeting with the President.
Okonjo-Iweala added: “What is needed next is growth. We now need to grow the economy and put in social safety nets so that people who are feeling the pinch of reforms can have some support to weather the hardship. That’s the next step.”
