Nigeria’s inflation rate has fallen to 16%, marking one of the most significant declines in recent months and offering a rare moment of relief for households and businesses across the country.
According to the latest data released by national economic authorities, the drop is attributed to improved food supply, stabilizing exchange rates, and ongoing government interventions aimed at reducing price pressures. Analysts say the development signals potential recovery, though they caution that more consistent policies will be needed to sustain the downward trend.
The federal government has described the new inflation figure as a “positive sign” for the economy, noting that lower inflation could boost purchasing power, investment, and consumer confidence. However, many citizens say prices of essential goods remain high, urging the government to intensify efforts to address food insecurity, energy costs, and transportation expenses.
Economists believe that if the current momentum continues, Nigeria may see further moderation in inflation before the end of the fiscal year