The National Bureau of Statistics (NBS) has reported that Nigeria’s headline inflation rate declined to 14.45 percent in November 2025.
The decrease, detailed in the Bureau’s consumer price index (CPI) report released on Monday, marks the eighth consecutive drop in 2025, surpassing President Bola Tinubu’s 15 percent target.
According to the NBS, the November headline inflation rate is lower than the 16.05 percent recorded in October 2025.
The latest figure represents the lowest inflation rate in five years, returning to levels seen during the COVID-19 pandemic when headline inflation was around 14 percent in October 2020, based on Central Bank of Nigeria (CBN) data.
The Bureau noted that the current inflation rate, on a year-on-year basis, was “20.15% lower than the rate recorded in November 2024 (34.60%).”
“This shows that the Headline inflation rate (year-on-year basis) decreased in November 2025 compared to the same month in the preceding year (i.e., November 2024),” the NBS said.
On a month-on-month basis, the Headline inflation rate in November 2025 was 1.22 percent, representing a 0.29 percent increase from October 2025 (0.93 percent).
“This means that in November 2025, the rate of increase in the average price level was higher than the rate of increase in the average price level in October 2025,” the agency explained.