Nigeria’s Inflation Climbs to 15.38% in March as Food, Transport Costs Surge
Korede Abdullah 
ABUJA, Nigeria – Nigeria’s inflation rate rose to 15.38 per cent in March 2026, reversing months of easing as rising food, transport and accommodation costs intensified pressure on households.
Data released by the National Bureau of Statistics (NBS) shows the figure increased from 15.06 per cent recorded in February, marking a 0.32 percentage point rise and the first upward movement since March 2025.
The Consumer Price Index rose to 135.4 points in March from 130.0 in February, while month-on-month inflation accelerated sharply to 4.18 per cent.
Food and non-alcoholic beverages remained the largest contributors, accounting for 5.55 percentage points of headline inflation, followed by restaurants and accommodation services at 3.26 points, and transport at 1.80 points.
Food inflation stood at 14.31 per cent year-on-year, driven by rising prices of staples such as yam, cassava, tomatoes and potatoes.
The report also highlighted regional disparities, with rural inflation at 17.22 per cent compared to 14.64 per cent in urban areas, reflecting higher cost pressures outside major cities.
At the state level, Bayelsa recorded the highest inflation rate at 27.37 per cent, while Osun posted the lowest at 5.25 per cent.
The NBS cautioned against direct comparisons across states, noting differences in consumption patterns.
Meanwhile, the World Bank warned that rising global oil prices could further drive inflation, estimating that crude prices at $80 per barrel could add over three percentage points to Nigeria’s inflation rate.
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Otamere Gladness 
Edino Chubiyo Cornelius 
Oluwatobi Adu