Nigeria’s Inflation Rate Climbs to 24.23% in March 2025 Amid Rising Economic Pressures

Nigeria’s inflation rate has surged to 24.23% in March 2025, as reported by the National Bureau of Statistics (NBS). This marks a notable increase from the previous month’s rate of 23.18%, signaling growing economic strain. The rise in inflation underscores the ongoing challenges faced by Nigerian households, who are experiencing escalating costs of living. The latest figures reflect a concerning trend as the country grapples with inflationary pressures that are affecting everyday essentials.

The inflationary jump highlights the broader economic difficulties Nigerians are facing. With inflation reaching this new high, the purchasing power of citizens continues to be squeezed. It also places a burden on policymakers, who are under increasing pressure to stabilize the economy. However, the NBS has yet to officially release these statistics through its channels at the time of this report, adding to the uncertainty surrounding the exact economic situation.

The increase in inflation is attributed to several factors, including higher food prices, fuel costs, and the weakened currency. These factors combine to create a perfect storm that has left many Nigerians struggling with higher expenses. The rise in inflation has deepened concerns about the long-term sustainability of the economy and its capacity to recover from such persistent inflationary trends.

This development comes at a time when economic recovery efforts are being put to the test. As inflation continues to climb, Nigerian authorities will need to consider both short-term measures and long-term strategies to combat the rising cost of living and stabilize the nation’s economy. The situation remains fluid, and further updates from the NBS are expected to provide clearer insights into the underlying economic conditions.

Source: Naira metrics