KEY POINTS

• Nigeria’s inflation rate rose slightly to 15.69% in April 2026 after the NBS rebased the Consumer Price Index.
• Food prices remained the largest contributor to inflation, although food inflation slowed compared to last year.
• Sokoto recorded the highest inflation rate nationwide, while Edo had the lowest.

Nigeria’s headline inflation rate increased to 15.69 per cent in April 2026, according to the latest figures released by the National Bureau of Statistics following the completion of its Consumer Price Index rebasing exercise.

The new data, released on Friday, adopted 2024 as the new base year and 2023 as the reference period for weighting consumer spending patterns across the country.

According to the report, the Consumer Price Index rose to 138.3 points in April, representing a 2.9-point increase from the figure recorded in March 2026.

Although inflation rose slightly from the 15.38 per cent recorded in March, it remained significantly lower than the 26.82 per cent posted in April 2025.

Food Prices Still Major Driver of Inflation

The Statistician-General of the Federation, Adeyemi Adeniran, explained that food and non-alcoholic beverages remained the biggest contributors to inflation during the month under review.

Food and non-alcoholic beverages contributed 6.40 percentage points to the inflation figure, while restaurants and accommodation services contributed 3.56 percentage points. Transport costs added 1.70 percentage points.

Food inflation stood at 16.06 per cent year-on-year in April, showing a sharp decline from the 24.68 per cent recorded during the same period last year.

On a month-on-month basis, food inflation also eased to 3.63 per cent, compared to 4.17 per cent in March.

The NBS attributed the movement in food prices to changes in the cost of staple items such as millet, yam flour, garri, tomatoes, pepper, beans, and beef.

Core inflation, which excludes volatile items such as food and energy, stood at 15.86 per cent year-on-year in April.

Month-on-month core inflation slowed significantly to 1.03 per cent from 4.03 per cent recorded in March, indicating a gradual easing in underlying price pressures.

The report further showed disparities in inflation levels across states and regions.

Urban inflation was recorded at 15.40 per cent, while rural inflation came in slightly higher at 16.36 per cent.