The National Bureau of Statistics (NBS) has reported that headline inflation crashed to 15.15% in December 2025. The data was normalised by the NBS to adjust for base effects.
This represents a dramatic cooling from the 30%+ levels seen earlier in the 2024-2025 period, marking the lowest inflation rate in over three years.
The Headline Inflation compares to 17.33% in November 2025, while food inflation fell to 10.84% in December 2025, compared to 14.21% in November 2025.
Core Inflation (excluding volatile food and energy) printed at 18.63%, compared to 20.59% in November.
This “disinflationary miracle” is being attributed to a combination of aggressive monetary tightening by the Central Bank of Nigeria (CBN) and bumper harvests that have helped cool food inflation.
While the NBS data is celebratory, analysts warn that the “base effect” of high 2024 prices helped make this drop look more dramatic.
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