Politics

Nigeria’s Inflation Eases To 15.10% In January 2026 – NBS

Published by Akinwale Fakinlede on February 16th, 2026.

Nigeria’s Inflation Eases To 15.10% In January 2026 – NBS

Nigeria’s headline inflation rate declined to 15.10 percent in January 2026, signaling a modest but encouraging shift in the country’s economic trajectory, according to the latest figures released by the National Bureau of Statistics (NBS).

The new data reflects a continued slowdown in the pace of rising consumer prices, offering relief to households and businesses that have grappled with persistent cost pressures over the past year. The January figure represents a noticeable drop compared to previous months, reinforcing expectations that inflationary trends may be gradually stabilizing.

Food Prices Show Signs of Moderation

A major driver of Nigeria’s inflation in recent years has been the surge in food prices. However, the latest report suggests that food inflation recorded a softer increase in January, contributing significantly to the overall easing of the headline rate. Improved supply chains, seasonal harvests, and relative exchange rate stability are believed to have played a role in moderating the cost of staple commodities.

Despite the decline, food prices remain elevated in many parts of the country, meaning the impact on household budgets is still being felt. Analysts note that while the slowdown is positive, sustained policy efforts will be required to maintain the downward trend.

Core Inflation Also Slows

Core inflation—which excludes volatile agricultural produce and energy costs—also recorded a marginal decrease. This suggests that underlying price pressures across sectors such as transportation, housing, and healthcare may be easing.

Economic observers attribute the development to tighter monetary measures implemented in previous months, including interest rate adjustments aimed at curbing excess liquidity in the system. These interventions appear to be gradually filtering through the broader economy.

What This Means for Nigerians

For ordinary Nigerians, the decline in inflation could translate into slower increases in the cost of goods and services. While prices may not necessarily fall, the reduced rate of growth offers some breathing space for consumers and businesses planning expenditures and investments.

Financial experts caution, however, that external risks—including global commodity price fluctuations and exchange rate volatility—could still influence inflationary dynamics in the months ahead.

Outlook for 2026

The January figure sets a cautiously optim

istic tone for the start of 2026. Policymakers will likely monitor subsequent data releases closely to determine whether the easing trend can be sustained.

If the downward momentum continues, it could strengthen investor confidence and provide a more stable environment for economic growth. For now, the latest NBS report signals a step in the right direction, as Nigeria navigates the complex path toward price stability and economic resilience.