Fuel, food price cuts to push Nigeria’s inflation to 12.94% in 2026 — CBN

 

According to the Central Bank of Nigeria, the country's inflation rate will drop to 12.94 percent in 2026 due to a decrease in food and gasoline prices.

On Wednesday, the CBN presented its 2026 macroeconomic prognosis for Nigeria.

The most populous nation in Africa is predicted to see a 4.49 percent increase in economic growth, according to the apex bank's predictions.

The CBN predicated the anticipated growth rate on the sustained benefits of extensive structural changes and a monetary policy stance that was steadily loosened.

The apex bank predicted that dropping food and premium motor spirit (PMS) prices would bring headline inflation to a forecast average of 12.94 percent in 2026.

Recall that an ongoing price battle in Nigeria's oil downstream industry caused numerous decreases in petrol prices last week.

Fuel prices now range between N739 and N910 per litre nationwide as a result of Dangote Refinery's significant reduction in its gantry petrol price to drive away petrol merchants.

Nigeria's food inflation fell to 11.08 percent in November, according to National Bureau of Statistics inflation figures from 2025.