Nigeria’s headline inflation rate recorded a slight decline in February 2026, easing to 15.06 per cent from 15.1 per cent in January, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).
The statistics agency disclosed that the figure represents a 0.04 percentage point drop on a month-on-month basis, indicating a marginal slowdown in the pace of rising prices across the country.
The CPI tracks the average change over time in the prices of goods and services consumed by households and is widely used to measure inflation trends in the economy.
The NBS also noted that the current inflation level represents a significant improvement when compared with the rate recorded during the same period last year.
According to the bureau, headline inflation on a year-on-year basis was 11.21 percentage points lower than the 26.27 per cent recorded in February 2025, showing a notable moderation in price increases over the past 12 months.
“This shows that the headline inflation rate decreased in February 2026 compared to the same month in the preceding year,” the agency stated.
However, the report indicated that prices still increased on a monthly basis.
The NBS said month-on-month inflation stood at 2.01 per cent in February, representing a 4.89 percentage point rise compared to the -2.88 per cent recorded in January 2026.
The development means that although the overall inflation rate declined slightly, the pace at which prices increased during February was higher than what was observed in the previous month.
In addition, the report revealed that the average CPI for the twelve months ending February 2026 rose by 21.03 per cent, compared with the average for the preceding twelve-month period.
This figure represents a 3.02 percentage point increase compared to the 18.01 per cent recorded in February 2025, suggesting that the general price level over the past year remains significantly elevated.
Economic analysts say the marginal drop in inflation could reflect ongoing policy efforts aimed at stabilising the economy and easing price pressures.
Nevertheless, they caution that the rise in month-on-month inflation highlights the persistence of cost pressures in the economy, particularly in areas such as food, transportation and energy.
The latest inflation data comes amid continued efforts by economic managers to tame inflation, strengthen purchasing power and stabilise Nigeria’s macroeconomic environment.
Observers say the trajectory of inflation in the coming months will largely depend on factors including food supply conditions, exchange rate stability, energy prices and the effectiveness of government economic reforms.
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