Nigeria’s Inflation Hits 24.23% in March 2025: Food and Living Costs Skyrocket

By: Manoah Kikekon 

Photo used to illustrate the story 

Fresh data from the National Bureau of Statistics (NBS) reveals that Nigeria’s inflation rate surged to 24.23% in March 2025, marking a sharp increase from February’s 23.18%. 

The latest report highlights growing economic pressures as food prices and essential living expenses continue to climb.  

  

According to the NBS, the headline inflation rate jumped by 1.05% compared to February 2025. On a month-on-month basis, inflation rose to 3.90%—a staggering 1.85% increase from February’s 2.04%, indicating a faster rise in average prices.  

 

Urban areas saw inflation hit 26.12% year-on-year, with a monthly increase of 3.96%—up by 1.56% from February.  

Rural inflation reached 20.89% year-on-year, with a monthly surge of 3.73%, reflecting a sharp 2.57% rise from the previous month.  

This alarming inflation surge deepens the financial strain on citizens, with many grappling with soaring food prices, transportation, and housing costs. The relentless price hikes have intensified calls for government intervention as households struggle to make ends meet.  

Will policymakers step in to curb this economic crisis? For now, Nigerians brace for tougher times as inflation shows no signs of slowing down.