Despite a marginal drop in Nigeria’s national inflation rate in April 2025, millions of households across the country continue to feel the strain as no fewer than 10 states and the Federal Capital Territory recorded headline inflation rates above 30%, spotlighting deep-seated economic pressures that persist beneath the surface of national averages.
According to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS), the country’s year-on-year inflation rate eased to 23.71% in April from 24.23% in March 2025. This marks a notable decline from the 33.69% recorded in April 2024. On a month-on-month basis, the inflation rate also dropped to 1.86%, down sharply from 3.90% in March, signaling a temporary slowdown in the pace of price increases.
However, this national average masks significant disparities across regions. In a concerning development, states including Enugu, Kebbi, Niger, Benue, Ekiti, Nasarawa, Zamfara, Delta, Gombe, Sokoto, and the FCT, Abuja, posted inflation rates exceeding 30%, substantially above the national figure.
Enugu State recorded the highest inflation rate at 36.0%, driven by a 12.3% spike in prices on a monthly basis. Food inflation in Enugu stood at 24.4%, suggesting residents are experiencing heightened cost-of-living burdens, particularly on essentials.
Kebbi followed closely with a 35.1% inflation rate and 33.8% food inflation, while Niger State saw a dramatic 14.7% monthly increase in prices, pushing its year-on-year inflation to 34.8%. Notably, Benue State reported an alarming 51.8% food inflation, attributed to persistent insecurity that has disrupted agricultural supply chains.
Other states with worrisome figures include:
Ekiti: 34.0% overall inflation, 16.7% monthly food inflation rise
Nasarawa: 33.3% inflation, with a sharp 16.0% monthly increase
Zamfara: 33.2% inflation, 24.0% food inflation
Delta: 31.9% inflation, driven by rising costs in non-food sectors like housing and transport
Gombe: 31.0% inflation, with food prices rising 5.8% month-on-month
Sokoto: 30.5% inflation, marked by a staggering 16.3% monthly spike in prices
FCT, Abuja: 32.9% inflation, though food inflation dropped slightly to 22.2%
These figures highlight how inflation continues to erode purchasing power unevenly across Nigeria, with urban areas and conflict-affected regions bearing the brunt of the economic hardship.
At the national level, food inflation dipped significantly to 21.26% year-on-year in April, compared to 40.53% in April 2024. Month-on-month, food prices rose by just 2.06%, down from 2.18% in March. This decline is partly due to changes in the base year for calculation and reduced prices of staples like maize flour, yam flour, okro, and rice.
Still, the 12-month average food inflation stood at 31.43%, underscoring continued stress on household food budgets. In several states, food inflation far exceeds the national average, indicating local supply shocks and persistent insecurity are undermining food security.
Meanwhile, core inflation — which excludes volatile agricultural and energy items — fell to 23.39% year-on-year, down from 26.84% in April 2024. On a monthly basis, it dropped to 1.34%, reflecting a slowdown in non-food price pressures.
However, energy costs surged 13.6% in April following a 9.21% increase in March, complicating the inflation outlook for businesses and households reliant on fuel and electricity.
Despite the statistical moderation in inflation, business leaders and economic experts remain unconvinced about its real-world impact.
Dr. Femi Egbesola, National President of the Association of Small Business Owners of Nigeria, noted that MSMEs are yet to feel the effects. “Input costs are still high, consumer demand remains weak, and financing is scarce,” he said, urging the government to implement targeted support such as tax breaks and affordable credit to revive the struggling sector.
Echoing this sentiment, Dele Oye, Chairman of the Organised Private Sector of Nigeria, remarked that the decline was too marginal to warrant optimism. “Our members haven’t felt the impact. It’s too early to celebrate,” he said.
Segun Kuti-George, Vice President of the Nigerian Association of Small-Scale Industrialists, added, “Prices of basic raw materials are still climbing. We are far from economic stability.”
The Lagos Chamber of Commerce and Industry (LCCI) described the 0.52% drop in inflation as “statistically insignificant.” LCCI President Gabriel Idahosa cautioned that the marginal change offers no reason to rejoice but rather a signal that the worst may be over — if supportive policies follow.
According to Idahosa, more progress depends on reducing transport costs through the adoption of electric and CNG-powered buses, though the high conversion costs have slowed the transition.
While the latest NBS data may suggest a slowdown in inflationary momentum, analysts warn that Nigeria’s economic recovery is still fragile. The disparity in inflation across states reflects the complex interplay of regional insecurity, poor infrastructure, and weak supply chains — issues that data alone cannot solve.
To ensure the downward trend in inflation translates to actual relief for Nigerians, experts are calling for:
Stronger food supply chain systems, especially in conflict-prone regions
Targeted MSME support, including tax holidays and grants
Transport sector reforms to cut energy costs
Improved security to stabilize agricultural output
Without these measures, inflation may continue to disproportionately impact the most vulnerable, stifling consumption and growth even as national averages improve.