In August 2026, Nigeria’s headline inflation eased marginally from 15.43 % in July to 15.39 %, according to figures released by the National Bureau of Statistics (NBS). The slight decline, while a positive sign, does not signal a reversal of rising prices.
Professor Godwin Oyedokun, a financial analyst and lecturer at Lead City University, said the moderation “means that prices are still rising, but at a slower rate.” He highlighted that the more significant development was a drop in month‑on‑month inflation, which could indicate a temporary easing in the pace of price increases.
Oyedokun warned that high food inflation remains a concern, noting that “many households may not yet feel substantial relief in their daily expenses.” The persistent cost of food could blunt the overall impact of the modest headline improvement.
On the potential effect on borrowing costs, the analyst said a single month of marginal moderation would not immediately translate into cheaper bank loans. “If disinflation is sustained, it could give the Central Bank of Nigeria greater room to consider monetary easing, which could eventually translate into lower lending rates and improved access to credit,” he said.
He described the August figure as encouraging but not a victory over inflation, urging focus on sustaining the downward trend while improving food supply, purchasing power, business productivity and access to affordable credit.
“Overall, the August figure is encouraging, but it is not yet a victory over inflation. The priority should be to sustain the downward trend while improving food supply, purchasing power, business productivity and access to affordable credit.” – Professor Godwin Oyedokun
<small>Source: Daily Post Nigeria — read the original story there.</small>