Breakthrough In Nigeria’s Economy: First Monthly Food Price Drop In Over 13 Years – NBS Reveals
By Musiliu Opeyemi
In a significant shift for Nigeria’s economy, September 2025 marked a notable reversal in the trend of rising prices, as the National Bureau of Statistics (NBS) reported the country’s first month-on-month food deflation in over 13 years.
According to the latest Consumer Price Index (CPI) report, headline inflation witnessed a significant decline, dropping to 18.02% from 20.12% in August. This reduction represents one of the sharpest monthly decreases in recent memory.
The slowdown in inflation was primarily driven by a considerable decrease in food inflation, which fell to 16.87% in September, down from 21.87% the prior month. More remarkably, the month-on-month food inflation rate recorded a -1.57%, indicating a genuine decline in food prices—the first negative reading since February 2012, when it was -0.13%.
Analysts attribute this positive trend to several factors, including seasonal harvest patterns, statistical base effects, and the recent rebasing of the inflation basket conducted by the NBS. This unprecedented deflation in food prices offers a glimmer of hope for Nigerian consumers, suggesting a potential turning point in the ongoing battle against inflation.
