Nigeria’s Inflation Steps Up To 15.38 Percent In March -NBS

 The National Bureau of Statistics (NBS) has disclosed an increase in Nigeria’s inflationary trend up to 15.38 percent for the month of March 2026.

This differs when compared to 15.06% and 27.35% recorded in February 2026 and March 2025; respectively, according to statistics release by the NBS Director General, Prince Adeyemi Adeniran.

The main drivers of the headline inflation were Food and non-alcoholic Beverages: 5.55%, Restaurants & Accommodation Services: 3.26%, and Transport: 1.80%.

The least contributors were Recreation, Sport, and Culture: 0.00%, Alcoholic Beverages, Tobacco, and Narcotics: 0.02%, and Insurance and Financial Services: 0.02%.

The food inflation rate in March 2026 stood at 14.31% on a year-on-year basis, lower than 25.22% recorded in March 2025.

This can be attributed to the rate of change in the average prices of Water Yam, Ginger (Fresh), Cassava Tuber, Groundnuts (Shelled), Irish Potatoes, Avenger (Ogbono/Apon) – Dried Ungrinded, Tomatoes (fresh), Cassava Flour sold loose, among others.

On state-level analyses, the all items inflation rate  in March 2026,  on a Year-on-Year basis was highest in Bayelsa (27.37%), Sokoto (26.03%), and Bauchi (23.67%), while Osun (5.25%), Kano (9.85%) and Kaduna (10.38%) recorded the lowest rise in Headline inflation on a Year-on-Year basis.

On a Month-on-Month basis, however, March 2026 recorded the highest increases in Zamfara (10.77%), Bauchi (9.37%) and Sokoto (9.05%), while Lagos (1.54%), Akwa Ibom (1.80%), and Rivers (1.89%) recorded a decline in the Month-on-Month inflation.

On food inflation, the state-level analyses of the food index in March 2026, on a Year-on-Year basis was highest in Bayelsa (33.35%), Sokoto (28.02%), and Adamawa (21.67%), while Kano (4.29%), Oyo (4.86%), and Katsina (7.48%) recorded the slowest rise in Food inflation on a Year-on-Year basis.

On a month-on-month basis, however, March 2026 Food inflation was highest in Sokoto (11.78%), Niger (8.59%) and Gombe (8.10%), while Katsina (0.09%), Ogun (0.77%), and Adamawa (1.30%) recorded a decline in Food inflation on a Month-on-Month basis.