By Nigerians are facing even greater economic pressure as the nation’s headline inflation rate has surged to 24.23 percent in March 2025. This alarming increase, revealed in the latest data released by the National Bureau of Statistics (NBS) on Tuesday, marks a significant rise from the 23.18 percent recorded in February 2025, further eroding the purchasing power of ordinary citizens.
The NBS data also indicates a concerning trend on a month-on-month basis, with the headline inflation rate standing at a substantial 3.90 percent in March 2025. This suggests that the prices of goods and services are continuing to rise at a rapid pace, impacting household budgets across the country.
A closer look at the figures reveals that food inflation, a key driver of overall inflation and a major concern for Nigerian households, stood at 21.79 percent year-on-year in March 2025. This persistent high cost of food items is likely exacerbating the financial strain on families already struggling with the rising cost of living.
Further details on the specific drivers of this latest surge in inflation are expected to be released later by the National Bureau of Statistics. However, the current figures paint a clear picture of an economy where prices are escalating, posing significant challenges for individuals and businesses alike. The continued rise in inflation will undoubtedly fuel further discussions about potential government interventions and policy adjustments aimed at curbing this worrying trend and providing relief to the populace.
