Nigeria’s Inflation Eases in April, But Citizens Remain Wary

Summary

• Nigeria’s inflation eased to 23.71% in April, dropping from 24.23% in March.
• Consumer Price Index rose slightly to 119.52, with slower month-on-month price increases.
• Nigerians express mixed reactions, urging agricultural reforms and doubting official figures.

Abuja, Nigeria — Nigeria’s headline inflation rate dipped slightly in April 2025 to 23.71%, down from 24.23% in March, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).

Despite this, the CPI rose marginally to 119.52, signaling a continued, albeit slower, rise in the cost of living.

On a year-on-year basis, the April 2025 inflation rate is nearly 10 percentage points lower than the 33.69% recorded in April 2024. Month-on-month, inflation growth slowed significantly to 1.86% in April, down from 3.90% in March.

While the figures suggest easing pressure on consumer prices, reactions from Nigerians were mixed.

Udo Etukudo, a Development Economist, highlighted food prices as the key driver of inflation, stating “This is a clear signal to authorities that massive investments in agriculture value-chains are fundamental to achieving macroeconomic stability, productivity increases, and structural transformation in Naija.”

On social media, however, skepticism remains. One user on X (formerly Twitter) dismissed the data outright: “Keep cooking up numbers. Reality does it care.” He posted.

With inflation still in double digits and households feeling the pinch, the call for meaningful economic reform, particularly in agriculture, remains strong.