BREAKING NEWS: Nigeria Inflation Drops to 14.45% in November 2025, Beats Tinubu’s 15% Target

Nigeria’s headline inflation rate slowed to 14.45 percent in November 2025, marking a notable decline from 16.05 percent in October and beating President Bola Tinubu’s inflation target for the year. The figures, released Monday by the National Bureau of Statistics (NBS), point to easing price pressures after months of elevated inflation across the economy.

According to the NBS, the 1.6 percentage point month-on-month drop suggests a gradual cooling in consumer prices, even as cost pressures remain uneven. On a month-on-month basis, headline inflation stood at 1.22 percent in November, slightly higher than October’s 0.93 percent, indicating that prices are still rising, though at a slower overall pace compared to earlier in the year.

A breakdown of the data shows a sharper improvement in urban areas. Urban inflation fell to 13.61 percent year-on-year, down significantly from 37.10 percent in November 2024, while month-on-month urban inflation eased to 0.95 percent. Rural inflation also moderated, coming in at 15.15 percent year-on-year, compared with 32.27 percent recorded in the same period last year, reflecting some relief for households outside major cities.

Food inflation, a key driver of household expenses, declined to 11.08 percent year-on-year in November 2025, down sharply from 39.93 percent a year earlier. However, the NBS noted that prices of essential items such as tomatoes, cassava, eggs, pepper, onions, and crayfish continued to rise, underscoring the persistent strain on food budgets despite the lower headline figure. Core inflation, which excludes food and energy, remained elevated at 18.04 percent.

The latest data brings fresh context to President Tinubu’s pledge to cut inflation to 15 percent by the end of 2025, announced during the presentation of the 2025 Appropriation Bill to the National Assembly. While several analysts had expressed skepticism about the target, November’s figures suggest the government is edging closer to its goal—though economists caution that sustained policy discipline will be needed to keep inflation on a downward path.

source: nairametrics