Nigeria's Inflation Rate Drops Slightly to 15.06% in February

Nigeria’s inflation rate recorded a marginal decline to 15.06 per cent in February 2026 from 15.10 per cent in January, according to the latest data released by the National Bureau of Statistics.

The NBS disclosed this in its Consumer Price Index and Inflation Report for February 2026 published on Monday.

The report showed that the headline inflation rate dropped by 0.04 percentage points on a month-on-month basis, indicating a slight moderation in the general rise in prices across the country.

Despite the marginal drop in headline inflation, food inflation recorded an increase during the review period.

According to the bureau, food inflation rose to 12.12 per cent in February compared to 8.89 per cent recorded in January.

The NBS stated, “In February 2026, the headline inflation rate eased to 15.06 per cent, down from 15.10 per cent recorded in January 2026.”

The statistics agency added that on a month-on-month basis, the headline inflation rate stood at 2.01 per cent in February, which was higher than the -2.88 per cent recorded in January.

“This indicates that the rate of increase in the average price level in February was higher than the rate recorded in January,” the bureau explained.

Meanwhile, the Financial Derivatives Company had earlier projected that Nigeria’s headline inflation would decline to 14.07 per cent in February.