Nigeria’s inflation rate dropped for the second consecutive month in February 2025, falling to 23.18 per cent from 24.48 per cent recorded in January.
However, economists and Nigerians expressed concern over the drop in the country’s inflation rate amid the high cost of essential commodities nationwide.
Meanwhile, despite this overall decline in inflation, three states – Edo, Enugu, and Sokoto – recorded inflation rates exceeding 30 per cent, according to the latest Consumer Price Index report released on Monday by the National Bureau of Statistics.
Edo recorded the highest inflation rate at 33.59 per cent, followed by Enugu at 30.72 per cent and Sokoto at 30.19 per cent. This indicates that despite the general moderation in inflation nationwide, price pressures remain intense in these states.
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The rise in inflation in these regions has been attributed to high food prices, increased transportation costs, and supply chain disruptions.
On a month-on-month basis, Sokoto recorded the highest inflation increase at 11.98 per cent, followed by Kogi at 11.38 per cent and Edo at 8.87 per cent, suggesting that prices in these states are still rising at a rapid pace.
The latest data showed that Nigeria’s headline inflation rate declined by 1.30 percentage points in February, reflecting a drop from 24.48 per cent in January to 23.18 per cent. Compared to the same period in 2024, when inflation stood at 31.70 per cent, the February 2025 figure represents an 8.52 percentage point decrease year-on-year.
