Korede Abdullah 
LAGOS, Nigeria – Nigeria has recorded its lowest inflation rate in eight years, marking a major turning point in the country’s battle against soaring prices. New data from the National Bureau of Statistics (NBS) shows headline inflation dropped to 16.05 percent in October 2025, down sharply from 18.02 percent in September.
According to the NBS Consumer Price Index released on Monday, October’s figure represents the seventh consecutive month of decline, signalling what analysts describe as a “credible and sustained cooling of price pressures.”
The bureau added that inflation is 17.82 percentage points lower than the 33.88 percent recorded in October 2024, a sign of stabilisation after years of volatility.
Food inflation, a major driver of household hardship, also eased for the second month in a row, falling to 13.2 percent from 16.9 percent in September. Analysts attribute the improvement to better harvests, a more stable naira, improved supply chains, and easing import bottlenecks.
Month-on-month inflation dipped to 0.93 percent, strengthening expectations that prices may continue to stabilise in the short term. Economists say the trend will strongly influence the Central Bank of Nigeria’s (CBN) Monetary Policy Committee meeting scheduled for November 24–25.
The CBN signalled a cautious shift toward easing in September when it reduced the Monetary Policy Rate from 27.5 percent to 27 percent, its first rate cut since 2020. With inflation steadily declining since April, several analysts believe “a further rate cut is now on the table,” pending confirmation that the downward trend is sustainable.
Experts say the latest inflation figures strengthen Nigeria’s gradual transition toward an inflation-targeting framework, a key step in stabilising the macroeconomic environment.
About the Author
Edino Chubiyo Cornelius 
Mirian Gom 
Chukwu Obinna 