The National Bureau of Statistics (NBS) has released its Consumer Price Index (CPI) report for April 2025, revealing a modest decline in Nigeria’s inflation rate. The headline inflation eased to 23.71% year-on-year, down from 24.23% in March 2025 and a significant drop from 33.69% in April 2024.
On a month-on-month basis, inflation slowed markedly to 1.86% in April from 3.90% in March, indicating a deceleration in the rate of price increases for goods and services.
According to the NBS, the CPI rose to 119.52 in April, up by 2.18 points from March. This reflects a 0.52 percentage point decline in the headline inflation rate month-on-month. The year-on-year headline inflation rate was 9.99 percentage points lower than in April 2024, pointing to a slower rise in overall prices compared to the same period last year.
Despite this national moderation, inflation remains alarmingly high in several states. Ten states and the Federal Capital Territory (FCT) recorded inflation rates above 30%, highlighting persistent regional price pressures.
Regional Disparities
Enugu State reported the highest inflation at 36.0% year-on-year, with a 12.3% month-on-month surge. Food inflation in the state was 24.4%, up 3.9% monthly.
Other states with severe inflationary trends include:
-
Kebbi: 35.1% overall inflation (↑5.4% m-o-m); food inflation at 33.8% (↑4.3%).
-
Niger: 34.8% (↑14.7% m-o-m), with food inflation at 24.3% (↑5.7%).
-
Benue: 34.3% overall, with a shocking 51.8% food inflation (↑25.6% m-o-m), largely due to ongoing insecurity.
-
Ekiti: 34.0% for both overall and food inflation; m-o-m increases of 11.0% and 16.7%, respectively.
-
Nassarawa: 33.3% overall (↑16.0% m-o-m); food inflation at 23.3% (↑7.4%).
-
Zamfara: 33.2% overall; food inflation at 24.0%.
-
Abuja (FCT): 32.9% overall (↑9.8% m-o-m); food inflation fell slightly to 22.2%.
-
Delta: 31.9% overall (↑10.7% m-o-m); food inflation at 15.9%.
-
Gombe: 31.0% overall (↑9.0%); food inflation at 26.4% (↑5.8%).
-
Sokoto: 30.5% overall (↑16.3%); food inflation at 25.3% (↑13.1%).
These figures underscore the uneven inflation burden across the country, with food inflation particularly severe in some regions, adding pressure to household incomes and worsening food insecurity.
National Trends
-
Food Inflation (YoY): Dropped to 21.26% in April from 40.53% a year earlier—due in part to a change in the CPI base year and falling prices of key staples like maize flour, rice, yam flour, and beans.
-
Food Inflation (MoM): Declined slightly to 2.06% from 2.18% in March.
-
12-month average food inflation: 31.43%, slightly lower than 32.74% in the previous year.
Core and Sectoral Inflation
-
Core Inflation (YoY): Down to 23.39% from 26.84% in April 2024.
-
Core Inflation (MoM): Fell sharply to 1.34% from 3.73%.
-
12-month average core inflation: Rose to 24.91% from 22.84% last year.
-
Energy prices: Rose 13.6% month-on-month in April, following a 9.21% increase in March.
-
Inflation on farm produce: Dropped to 0.95% from 2.64%.
-
Services inflation: Slowed to 2.20% from 3.44%.
-
Goods inflation: Rose modestly by 1.89% month-on-month.
Outlook
While national inflation data shows signs of easing, the impact is yet to reach many households, especially in states where inflation remains elevated. Food price volatility continues to weigh heavily on Nigerians, emphasizing the need for targeted policy responses to address regional disparities and inflationary pressures in critical sectors.