Nigeria’s inflation rate dropped to 15.1% in January 2026, the National Bureau of Statistics (NBS) said. This means prices of goods and services are rising more slowly than before.
The drop was mostly because food prices went down. Food has been the main reason for high inflation in the past year.
The NBS said better harvests, smoother distribution, and stable transport costs helped lower food prices.
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Other costs, like housing, transport, healthcare, and education, are also becoming more stable.
This gives relief to families and businesses struggling with high costs. Lower food prices, in particular, help low- and middle-income earners.
Analysts said the lower inflation might affect the Central Bank of Nigeria’s future decisions on interest rates.
They warned that the government and the central bank need to work together to keep prices stable.
The NBS will keep tracking prices and give monthly updates, and many Nigerians hope this trend continues.