Nigeria’s inflation rate drops to 14.45% in November 2025
In a new report, the National Bureau of Statistics said Nigeria’s inflation rate eased in November 2025. The Consumer Price Index rose slightly month-on-month, but annual inflation slowed compared to previous months. Food and non-alcoholic beverages remained the biggest contributors to inflation. The data reflects the impact of a new base year and changing price dynamics across the country.
TLDR
- The headline inflation rate dropped to 14.45% in November 2025, down from 16.05% in October 2025.
- On a year-on-year basis, inflation fell by 20.15 percentage points compared to November 2024, mainly due to the rebasing to a new base year.
- Food and non-alcoholic beverages contributed the most to inflation, followed by restaurants, accommodation, and transport.
- Urban inflation was 13.61% year-on-year, while rural inflation was higher at 15.15% in November 2025.
- Rivers, Ogun, and Ekiti states recorded the highest inflation rates, while Plateau, Kebbi, and Katsina had the lowest.
