Nigeria’s Inflation Drops to 15.06%, 3 States Record Lowest rates
- The NBS has revealed that inflation rates dropped again in February 2026
- The bureau noted that both headline and food inflation eased on a year-on-year basis
- Inflation was lowest in Katsina, Imo, and Ebonyi, while the highest was recorded in Kogi
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Legit.ng journalist Dave Ibemere has experience in business journalism, with in-depth knowledge of the Nigerian economy, the stock market, and broader market trends.
The National Bureau of Statistics (NBS) has revealed that Nigeria’s inflation rate slowed further in February 2026.
According to the bureau in its latest CPI report, the headline inflation dropped slightly to 15.06% from 15.10% in January 2026.
Source: Twitter
The year-on-year inflation rate was 11.21 percentage points lower than the 26.27% recorded in February 2025.
On a month-on-month basis, inflation stood at 2.01% in February, up from -2.88% in January, showing that prices rose at a faster pace than the previous month.
Urban vs Rural Inflation
NBS noted that urban inflation stood at 15.53% year-on-year, down from 28.49% in February 2025, while rural inflation was 13.93%, compared with 22.73% in the same period last year.
Every month, urban inflation rose to 2.55% in February from 2.72% in January, while rural inflation eased to 0.71% from -3.29%.
Food Inflation
Food inflation dropped to 12.12% year-on-year in February, down sharply from 26.98% in February 2025. Monthly, food prices rose by 4.69%, higher than the -6.02% recorded in January.
The NBS attributed the moderation to slower price increases in staples such as beans, cassava tuber, yam flour, crayfish, millet flour, cowpeas, and okazi leaf.
The twelve-month average for food inflation was 19.08%, compared with 37.40% in February 2025.
States breakdown for All Items
The states with the highest all-items inflation rates were:
- Kogi (23.57%)
- Benue (22.85%)
- Anambra (22.09%)
The lowest rates were recorded in:
- Katsina (7.78%)
- Imo (11.66%)
- Ebonyi (11.71%)
On a month-on-month basis, the highest increases were in Enugu (5.92%), Ogun (4.39%), and Anambra (4.11%), while declines were seen in Zamfara (-2.14%), Bauchi (-1.23%), and Katsina (-1.06%).
Source: Getty Images
State Breakdown for Food Inflation
Food inflation was highest in:
- Kogi (26.91%)
- Adamawa (23.12%)
- Benue (21.89%)
The lowest food inflation rates were seen in:
- Katsina (5.09%)
- Bauchi (7.09%)
- Imo (7.65%)
Month-on-Month Food Inflation
The states with the highest month-on-month increases in food inflation were:
- Bayelsa (8.81%)
- Ebonyi (8.51%)
- Edo (7.72%)
The states that recorded declines were:
- Katsina (-0.70%)
- Nasarawa (0.17%)
- Kano (1.39%)
Food price changes across markets in Nigeria
Earlier, Legit.ng reported that due to Ramadan, staple food prices across the country are recording sharp increases as Muslims begin the Ramadan fasting season
Ramadan is not only a period of abstinence from food and drink, but also a time for 'reflection, discipline and heightened devotion'
Several traders in Abuja, Taraba, and Kaduna states are taking advantage and have hiked prices of key food items such as rice, beans, maize, and groundnuts.
Source: Legit.ng
