Nigeria’s Inflation Rises to 15.69% in April — Second Consecutive Monthly Increase

Nigeria’s inflation rate climbed for the second straight month in April, as stubbornly high food and transport costs continued to squeeze households across the country.

The National Bureau of Statistics reported on Friday that headline inflation rose to 15.69 percent in April 2026, up from 15.38 percent in March. The 31-basis-point increase marks the second consecutive monthly rise after a brief period of moderation earlier in the year.

Food and non-alcoholic beverages remained the largest contributor to the overall rate, accounting for 6.40 percentage points of headline inflation. Restaurants and accommodation services added another 3.56 percentage points, while transport costs contributed 1.70 percentage points.

The Consumer Price Index increased to 138.3 in April, representing a 2.9-point rise from the 135.4 recorded in March. On a month-on-month basis, however, the pace of price growth slowed to 2.13 percent from 4.18 percent in March — suggesting that while prices are still rising, the rate of increase is easing slightly.

What’s driving prices higher

The NBS attributed the rise in food prices to increases in the cost of staple items including millet, yam flour, fresh ginger, beef, garri, yam tubers, fresh pepper, crayfish, cassava tubers, beans, Irish potatoes, tomatoes, wheat grain, soybeans, guinea corn, plantain, and carrots.

Food inflation stood at 16.06 percent year-on-year in April, compared to 24.68 percent in April 2025. On a monthly basis, food inflation slowed to 3.63 percent from 4.17 percent in March.

Core inflation, which excludes volatile agricultural produce and energy prices, stood at 15.86 percent year-on-year, lower than the 26.05 percent recorded in April 2025. Monthly core inflation slowed sharply to 1.03 percent from 4.03 percent in March.

Rural-urban divide

Urban inflation stood at 15.40 percent year-on-year in April, while rural inflation was higher at 16.36 percent. The gap reflects differing consumption patterns and exposure to food price shocks across the country.

At the state level, Sokoto recorded the highest year-on-year all-items inflation rate at 25.74 percent, followed by Bauchi at 22.52 percent and Zamfara at 22.03 percent. Edo recorded the slowest rise at 5.91 percent, followed by Borno at 6.72 percent and Jigawa at 7.04 percent.

On a month-on-month basis, Niger recorded the highest rise at 5.66 percent, followed by Kano at 4.50 percent and Plateau at 4.39 percent. Bayelsa recorded the slowest increase at 0.64 percent.

Forecast vs reality

The Financial Market Dealers Association had projected headline inflation would rise to 16.42 percent in April. The actual figure came in lower than expected, though food and energy costs remain key concerns for policymakers.

For ordinary Nigerians, the numbers translate into continued pressure on household budgets. Despite some moderation in monthly price increases, the cumulative effect of sustained inflation over the past two years has eroded purchasing power significantly.

The Central Bank of Nigeria faces a delicate balancing act — supporting economic growth while containing inflationary pressures. With food prices remaining elevated and global commodity markets volatile, the path ahead remains uncertain.

Sources: Punch, ThisDay, PRNigeria, Proshare