The Central Bank of Nigeria (CBN) has projected that Nigeria’s inflation rate will drop to 12.94 per cent in 2026, citing declining food prices and reduced petrol costs. The projection is contained in the CBN’s 2026 Macroeconomic Outlook released on Wednesday.
According to the apex bank, improved supply conditions, sustained structural reforms and a gradual easing of monetary policy are expected to stabilise prices and support economic growth. The CBN also forecast a 4.49 per cent expansion of the economy in 2026, driven by better performance across key sectors.
Recent fuel price cuts, following intense competition in the downstream oil sector and Dangote Refinery’s gantry price reduction, have helped moderate inflationary pressures. The National Bureau of Statistics also reported a decline in food inflation to 11.08 per cent in November 2025, reinforcing the outlook.
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