Nigeria’s inflation trend continued its gradual upward movement in April 2026, even as the pace of monthly price increases showed signs of slight moderation in some segments of the economy.
Fresh data from the National Bureau of Statistics (NBS) shows that the country’s headline inflation rose to 15.69 per cent in April 2026, compared to 15.38 per cent recorded in March 2026. This marks a 0.31 percentage point increase within a single month, reflecting persistent pressure on household costs despite easing momentum in month-on-month changes.
The report stated:
“In April 2026, the headline inflation rate rose to 15.69%, up from 15.38% in March 2026 and stood at 26.82% in the same month of the preceding year (April 2025).”
It further noted:
“Looking at the movement, the April 2026 headline inflation rate showed an increase of 0.31% compared to the March 2026 Headline inflation rate.”
Monthly Price Growth Slows, but Base Levels Remain High
On a month-to-month basis, inflationary pressure appears to have softened. The NBS recorded a 2.13% month-on-month inflation rate in April 2026, significantly lower than the 4.18% reported in March.
According to the agency:
“This means that in April 2026, the rate of increase in the average price level was lower than the rate of increase in the average price level in March 2026.”
This suggests that while prices are still rising, the speed of increase has slowed compared to the previous month—offering some relief in short-term price movements, even if overall inflation remains elevated.
Food Inflation Still Drives Cost Pressures
Food remains the most sensitive component of Nigeria’s inflation basket, with the April 2026 food inflation rate standing at 16.06% year-on-year. This is lower than the 24.68% recorded in April 2025, but still reflects sustained pressure on household food budgets.
The NBS explained:
“On a month-on-month basis, the Food inflation rate in April 2026 was 3.63%, down by 0.54% points from March 2026 (4.17%).”
It also attributed price movements to staple commodities widely consumed across households:
“This can be attributed to the rate of change in the average prices of the following products: millet whole grain, yam flour, ginger (fresh), beef, garri, yam tuber, pepper (fresh), crayfish, cassava tuber, beans, Irish potatoes, tomatoes (fresh), wheat grain (sold loose), soybeans, guinea corn, plantain, carrots (Fresh) etc.”
Despite the slight moderation in monthly food inflation, the broader cost of food remains structurally high, especially for low-income households.
Long-Term Food Inflation Trend Shows Cooling
Looking at a broader twelve-month average, the NBS reported that food inflation for the period ending April 2026 stood at 17.55%, significantly lower than the 34.60% recorded in April 2025.
“In April 2026, Food inflation on a year-on-year basis was highest in Enugu (32.67%), Kwara (30.77%), and Adamawa (30.14%), while Borno (1.67%), Jigawa (6.17%), and Taraba (7.19%) recorded the slowest rise in Food inflation on a year-on-year basis,” the report read.
This wide disparity highlights the uneven impact of inflation across different parts of the country, shaped by supply chains, security conditions, and agricultural output variations.
Monthly Food Inflation Differs Sharply Across States
The report also showed that short-term food price changes vary significantly from state to state. On a month-on-month basis, inflation was highest in:
“In Niger (8.53%), Bauchi (6.78%), and Kogi (6.72%),”
while the slowest increases were recorded in:
“Kebbi (0.23%), Katsina (0.47%) and Bayelsa (1.29%).”
These differences underline how localized factors—such as transport costs, harvest cycles, and market disruptions—continue to influence food affordability across the country.
Outlook: Slower Momentum, Persistent Pressure
While the latest figures suggest a slight easing in monthly inflation momentum, both headline and food inflation remain elevated compared to historical norms. The continued gap between year-on-year and month-on-month trends indicates that Nigeria’s inflation challenge is stabilizing only gradually, rather than reversing decisively.
For households, the data points to a mixed reality: fewer sharp monthly spikes, but sustained high prices that continue to erode purchasing power across essential goods.