Business News
BREAKING: Nigeria’s inflation drops slightly to 15.06% in February
Nigeria’s inflation rate recorded a slight drop to 15.06 per cent in February 2026, down from 15.10 per cent in January, according to the latest data released by the National Bureau of Statistics (NBS).
The figure was contained in the bureau’s February Consumer Price Index (CPI) and inflation report published on Monday.
The NBS said the country’s headline inflation rate declined by 0.04 percentage points on a month-to-month basis, indicating a marginal slowdown in the pace of rising prices.
Despite the slight drop in overall inflation, the report showed that food inflation increased during the period.
Food inflation rose to 12.12 per cent in February, up from 8.89 per cent recorded in January, suggesting that the cost of food items continued to climb.
“February 2026, the headline inflation rate eased to 15.06 per cent, down from 15.10 per cent in January 2026.
“On a month-on-month basis, the headline inflation rate in February 2026 was 2.01%, which was 4.89% higher than the rate recorded in January 2026 (-2.88%).
“This means that in February 2026, the rate of increase in the average price level was higher than the rate of increase in the average price level in January 2026,” NBS stated.
The Financial Derivatives Company, FDC, had earlier forecasted that February’s headline inflation would drop to 14.07 per cent.
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