Inflation Rate Rises to 15.38% in March, 10 States Highest

• Nigeria’s inflation rate increased to 15.38% in March 2026
• The new figures reflect persistent price pressures across key sectors despite earlier signs of moderation
• Ten states recorded the highest inflation levels nationwide as cost pressures intensified across regions

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) reported that headline inflation rose to 15.38% in March 2026, up from 15.06% recorded in February 2026.

The latest figure also represents an increase compared to 13.53% recorded in March 2025, indicating sustained inflationary pressure on a year-on-year basis.

On a month-on-month basis, inflation rose sharply to 4.18% in March 2026, compared to 2.01% in February, suggesting a faster pace of increase in the general price level.

This is according to the latest Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS), released on Wednesday.

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The CPI, which measures inflation, climbed to 135.4 in March 2026, reflecting a 5.4-point increase from 130.0 in the previous month.

According to the NBS, the increase was driven by continued rises in both food and non-food prices across the country.

Food inflation stood at 14.31% on a year-on-year basis, lower than 25.22% recorded in March 2025, but remained elevated on a monthly basis at 4.17%.

The agency attributed the increase in food prices to higher costs of items such as yam, ginger, cassava, groundnuts, tomatoes, and other staple foods.

States with highest inflation rates

On a year-on-year basis, the states with the highest all-items inflation in March 2026 were:

• Bayelsa – 27.37%
• Sokoto – 26.03%
• Bauchi – 23.67%
• Cross River – 23.60%
• Akwa Ibom – 22.20%
• Kwara – 22.90%
• Niger – 20.70%
• Yobe – 19.70%
• Plateau – 19.60%
• Nasarawa – 19.50%

These figures highlight significant regional disparities in inflation, with several states experiencing rates far above the national average.

States with lowest inflation rates

Meanwhile, the lowest inflation rates were recorded in:

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• Osun – 5.25%
• Kano – 9.85%
• Kaduna – 10.38%

Urban and rural inflation trends

Further breakdown showed that urban inflation stood at 14.64% year-on-year, while rural inflation was higher at 17.22%, indicating stronger price pressures in rural areas.

On a month-on-month basis, rural inflation surged to 6.73%, significantly higher than the 3.16% recorded in urban areas

FG releases specific foods, drinks Nigerians are not allowed to import in 2026

Legit.ng earlier reported that the Nigerian Customs Service has shared a list of food items that are not allowed to be imported into Nigeria in 2026.

These prohibited items will be seized when discovered at airports, land borders, and ports by Customs officers

The food items cover animal products, processed foods, beverages, and packaged goods.

The policy is part of broader government efforts to reduce dependency on imports, support local farmers and manufacturers, and ensure that food consumed in the country is safe..

Source: Legit.ng