Figures cited by The Guardian show that Nigeria’s headline inflation rate has continued its downward trajectory, easing to 15.10% in the latest data released this February. This decline marks the tenth consecutive month of moderation, driven largely by a significant cooling in food prices and a more stable exchange rate. Analysts suggest that the Central Bank’s aggressive monetary tightening and improved agricultural output are finally yielding tangible results for consumers.
The National Bureau of Statistics (NBS) highlighted that food inflation, which was once the primary driver of the cost-of-living crisis, has seen a sharp reduction compared to the same period last year.
Staple items such as grains and vegetables have benefitted from better harvest conditions and reduced transportation bottlenecks. Despite this progress, core inflation remains somewhat sticky, reflecting persistent costs in energy and services.
While the drop is a welcome relief, the federal government faces pressure to ensure that these macroeconomic gains translate into lower prices at the retail level.
Many households still struggle with the cumulative impact of previous price hikes, making the sustainability of this downward trend critical for social stability and consumer confidence.
Validating this trend, Vanguard reported that the latest figures represent “a sharp decline from the 27.61 per cent recorded in January 2025.”
Additionally, ThisDay published an analysis stating that “Tinubu’s Renewed Hope policies are driving a drop in inflation through strategic fiscal discipline.”
Echotitbits take:
Hitting a 15% inflation ceiling after the 30%+ peaks of 2024 is a major win for the current administration’s economic team. However, the real test will be maintaining this stability as “election-cycle liquidity” begins to hit the system. If the government can keep the naira stable and fuel prices under N1,000, we might see single-digit inflation targets becoming a reality by 2027.
Source: The Guardian – https://guardian.ng/news/relief-for-nigerians-as-food-inflation-eases-to-single-digit-after-10-years/, February 21, 2026
Photo credit: The Guardian
