The Central Bank of Nigeria (CBN) has projected that the country’s inflation rate will moderate to 12.94 per cent in 2026, largely driven by declining prices of food items and Premium Motor Spirit (PMS), better known as fuel or petrol.
The apex bank disclosed this in its 2026 Macroeconomic Outlook for Nigeria, released yesterday.+See more details
According to the CBN, Africa’s most populous country is also expected to record a 4.49 per cent growth in its economy within the period under review.
The CBN attributed the anticipated economic expansion to sustained gains from ongoing structural reforms as well as a gradual easing of monetary policy conditions.
The bank noted that improvements across key sectors of the economy, combined with policy consistency, would help boost productivity and overall economic performance.
“Headline inflation is projected to moderate to an estimated average of 12.94 per cent in 2026, driven by declining food and premium motor spirit prices,” the apex bank stated.
Naija News reports that the projection comes against the backdrop of recent reductions in petrol prices across the country, following an intense price war in the oil downstream sector.
Last week, fuel prices dropped sharply after Dangote Refinery slashed its gantry price of petrol in a bid to edge out other marketers.
As a result, petrol prices have been hovering between ₦739 and ₦910 per litre across various parts of the country.
In further support of the inflation outlook, the National Bureau of Statistics, in its November 2025 inflation report, disclosed that Nigeria’s food inflation rate declined to 11.08 per cent.
The CBN expressed optimism that these developments would help stabilise prices and strengthen purchasing power as the economy moves into 2026.+See more details
𝗙𝗼𝗹𝗹𝗼𝘄 𝗢𝘂𝗿 𝗪𝗵𝗮𝘁𝘀𝗔𝗽𝗽 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 𝗧𝗼 𝗚𝗲𝘁 𝗟𝗮𝘁𝗲𝘀𝘁 𝗡𝗲𝘄𝘀 𝗔𝘀 𝗜𝘁'𝘀 𝗗𝗿𝗼𝗽!
