• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, June 22, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Inflation Slows For Second Time To 23.2% After Rebasing

by Mark Itsibor and BUKOLA ARO-LAMBO
3 months ago
in Cover Stories
Inflation
Share on WhatsAppShare on FacebookShare on XTelegram

Nigeria’s headline inflation rate eased to 23.2 per cent year-on-year in February 2025 compared with January, the Nigerian Bureau of Statistics (NBS) said on Monday.

Advertisement

This is the second consecutive drop after the NBS changed its methodology.

The NBS stated that the inflation figure eased in February, a month after it rebased its Consumer Price Index to reflect changes in consumption patterns.

The Nigerian inflation figure was adjusted sharply from 34.80 per cent in December to 24.48 per cent in January, the first major drop in over a decade, after the National Bureau of Statistics’ rebasing exercise to update data with 2024 as the base year instead of 2009.

The food inflation rate in February 2025 was 23.51 per cent on a year-on-year basis. This was 14.41 per cent lower compared to the rate recorded in February 2024 (37.92 per cent).

RELATED

Seed Disease, Unchecked Export Cause Severe Ginger Shortage

Seed Disease, Unchecked Export Cause Severe Ginger Shortage

4 hours ago
… I Was Quoted Of Context, Says Ningi

2027: 11 Senators Eyeing Governorship Seats

4 hours ago

NBS said the significant decline in the food inflation figure is technically due to the change in the base year. However, on a month-on-month basis, the food inflation rate in February 2025 was 1.67 per cent.

On a month-on-month basis, the headline inflation rate in February 2025 stood at 2.04 per cent.

On a year-on-year basis, in February 2025, the urban inflation rate was 25.15 per cent, 8.51 percentage points lower than the 33.66 per cent recorded in February 2024. On a month-on-month basis, the urban inflation rate was 2.40 per cent in February 2025.

The corresponding twelve-month average for the urban inflation rate was 32.22 per cent in February 2025. This was 4.28 percentage points higher than the 27.93 per cent reported in February 2024.

The rural inflation rate in February 2025 was 19.89 per cent on a year-on-year basis, 10.09 percentage points lower than the 29.99 per cent recorded in February 2024. On a month-on-month basis, it was 1.16 per cent.

The corresponding 12-month average for the rural inflation rate in February 2025 was 27.94 per cent, 3.33 percentage points higher than the 24.61 per cent recorded in February 2024.

Inflation hit repeated 28-year highs last year, induced by President Bola Tinubu’s moves to end costly subsidies and devalue the naira currency after he came to power in 2023.

“In analysing price movements under this section, it should be noted that CPI is weighted by consumption expenditure patterns that differ across states and locations. Accordingly, the weight assigned to a particular food or non-food item may differ from state to state, making interstate comparisons of consumption baskets inadvisable and potentially misleading,” the NBS stated.

Last month, the NBS released the rebased inflation, which brought the country’s inflation rate down from 34.8 percent in December last year to 24.1 percent. The rebasing, which was the first in 16 years, saw the NBS update the reference year to 2024 to better capture inflationary pressures affecting Nigerian households.

At 23.18 per cent, the latest inflation is the lowest recorded in the country since June 2023, when inflation printed at 22.79 per cent.

Meanwhile, businesses are expecting to spend more on expenditures compared to households over the next six months, according to the Inflation Expectation Survey released by the Central Bank of Nigeria.

According to the report, 46.7 per cent of firms surveyed expect higher expenditure, while 32.6 per cent of households expect higher spending over the next few months. In general, households and businesses anticipate lower spending as their expectation of higher prices decreases over the next six months


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

START EARNING US DOLLARS as a Nigerian ($35,000) monthly. Companies are sacking their workers due to AI (artificial intelligence), business owners are in panic mode. Only the smart will make it. Click here


Tags: Inflation Rate
SendShareTweetShare
Previous Post

Rivers Lawmakers Serve Fubara, Deputy Impeachment Notice

Next Post

Farotimi Warns Against Hereditary Appointments In Nigeria’s Legal System

Mark Itsibor and BUKOLA ARO-LAMBO

Mark Itsibor and BUKOLA ARO-LAMBO

You May Like

Seed Disease, Unchecked Export Cause Severe Ginger Shortage
Cover Stories

Seed Disease, Unchecked Export Cause Severe Ginger Shortage

2025/06/22
… I Was Quoted Of Context, Says Ningi
Cover Stories

2027: 11 Senators Eyeing Governorship Seats

2025/06/22
Abia Polls: Igbokwe Distances Self From Petition Against Reps’ Deputy Speaker Kalu
Cover Stories

Constitution Amendment: Reps Focus On State, LG Police, Pro-women Bills

2025/06/22
150,000 Nigerian Children Born With Sickle Cell Gene Annually–FG
Health

150,000 Nigerian Children Born With Sickle Cell Gene Annually–FG

2025/06/21
Northern Democrats Task Security Agencies On Benue Killings
Cover Stories

Northern Democrats Task Security Agencies On Benue Killings

2025/06/21
Wike: Changing The Face Of Infrastructure In Abuja
Cover Stories

Wike Lauds FCT Residents For Sacrificing Property For Road Project

2025/06/21
Leadership Conference advertisement

LATEST

Model Seeks Mentorship After Historic Catwalk

Promoting Staff Wellbeing, Fitness Our Priority – NCAA

Why I Won’t Join Coalition – Al-Mustapha

Pharmacists Insist On Petition Over Physicians’ Dominance

Galaxy Backbone Partners Police Trust Fund On ‘Smart Stations’

Benue Killings: Kogi Stakeholders Warn On Threat To Food Security

Middle Belt Christians Demand FG’s Decisive Action Against Killings

Bende North Now Investors’ Haven –Abia Lawmaker

FG, AIHS Push For Local Building Materials, Affordable Housing

NABTEB Exams Now At WAEC, NECO Levels, Says Registrar

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.