Nigeria’s headline inflation rate eased to 14.45% in November 2025, down from 16.05% in October, according to figures released on Monday by the National Bureau of Statistics (NBS).
The 1.6 percentage-point decline marks a notable moderation in price pressures after several months of elevated inflation.
The NBS said the headline rate also declined on a year-on-year basis, although it noted that the comparison reflects a different base year (November 2009).
On a month-on-month basis, headline inflation stood at 1.22% in November, higher than the 0.93% recorded in October, indicating that average prices continued to rise, albeit within a slowing annual trend.
Following the release, the data triggered mixed reactions across social media, reflecting broader public debate over whether easing inflation is translating into tangible relief for households and businesses.
‘Nigeria remains the only economy I have seen where the inflation rate has fallen like a rock in record time, but the Central Bank of Nigeria has kept its MPR rates unmoved. What is the benefit of falling inflation rates if the Monetary Policy Rate (MPR) don’t fall? How then is this a win if SMEs can’t borrow cheaper? This is an “administrative” inflation rate, Same as the Unemployment rate.’
“Funny how facts don’t trend as much as panic and fake news in this country. Inflation easing to 14.45%, beating the govt’s own 15% target, won’t excite the professional pessimists, but it matters. This is what policy direction looks like: slow, painful, then measurable. You don’t fix years of fiscal abuse overnight. You tighten, absorb the shock, then stabilise. It comes down through hard decisions, people love to hate, before results start showing. This doesn’t mean everything is suddenly perfect. It means the direction is working. And that’s exactly what many critics are afraid of, evidence that refuses to obey their talking points.”
“Some good news on inflation from the NBS. If this is sustained, I expect a reduction in interest rate from the CBN Monetary Policy Committee in February’s meeting. #Inflation #Nigeria”
“Nigeria is the only country where inflation will drop to 14.45% and Nigerians will still ask: “Okay… but has bread heard the good news?”
“Only in the APC economy inflation rate is coming down, and the Nigerian people are not feeling the effect and the CBN keeps MPR on a high…hmmm, only in the Nigerian economy this can happen.”
“I don’t think Nigerians are ready for the inflation that will hit early next year. Most people will raise prices in panic and some others will take advantage of it to gouge. Business will slow down for non-necessity goods and services. Nigerians will take a serious hit.”
However, scepticism remains widespread. Several commentators pointed out that despite the lower headline figure, everyday prices remain high, raising questions about how quickly inflation data will translate into reduced living costs. Others warned that pricing behaviour and inflation expectations going into early 2026 could still pose risks, particularly if businesses raise prices pre-emptively.
Overall, the November inflation report highlights easing headline pressures, but public reaction suggests continued concern about cost-of-living realities, interest rates, and whether macroeconomic improvements will be felt more broadly across the economy.