Nigeria’s inflation rate fell to 20.12 % in August 2025, a 1.76 % decline from the 21.88 % recorded in July 2025, according to the National Bureau of Statistics (NBS). The month‑on‑month headline inflation was 0.74 % in August, while food inflation rose 1.65 % on a monthly basis. Compared with the same month a year earlier, inflation dropped 12.03 %, falling from 32.15 % in August 2024. The NBS highlighted that the headline inflation rate has decreased year‑on‑year despite a change in the base year. The Consumer Price Index (CPI) rose to 126.8 in August, reflecting a 0.9‑point increase from the previous month.
The decline in inflation is a positive development, yet concerns persist about the rising cost of living in Nigeria. The federal government has been urged to introduce measures that cushion the impact of higher living expenses on Nigerians. Recently, World Trade Organization Director‑General Ngozi Okonjo‑Iweala called on the government to establish social safety nets for poor Nigerians affected by economic reforms. She praised the administration’s efforts to stabilise the economy, noting that the president and his team have worked hard to achieve this goal, but stressed that further growth and protective measures are needed.
Okonjo‑Iweala emphasized that the next step is to expand the economy while providing support to those feeling the pinch of reforms. Although the falling inflation rate marks a significant development and the government’s stabilisation efforts are noteworthy, the ongoing cost‑of‑living pressures remain a concern. Implementing social safety nets is crucial to assist those impacted by economic reforms. As the government continues to pursue economic growth, prioritising the needs of poor Nigerians and offering the necessary support will be essential to help them weather hardship.
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