The Consumer Price Index (CPI) in Nigeria rose to 121.35 in May 2025, reflecting a 1.83-point increase from the preceding month.
This was made known in a report released on Monday by the National Bureau of Statistics (NBS), which shows that in May 2025, the Headline inflation rate eased to 22.97% relative to the April 2025 headline inflation rate of 23.71%.
Looking at the movement, Naija News reports that the May 2025 Headline inflation rate decreased 0.74% compared to the April 2025 Headline inflation rate.
On a year-on-year basis, the Headline inflation rate was 10.98% lower than the rate recorded in May 2024 (33.95%). This shows that the Headline inflation rate (year-on-year basis) decreased in May 2025 compared to the same month in the preceding year (i.e., May 2024), though with a different base year, November 2009 = 100.
Furthermore, on a month-on-month basis, the Headline inflation rate in May 2025 was 1.53%, which was 0.33% lower than the rate recorded in April 2025 (1.86%).
This means that in May 2025, the rate of increase in the average price level is lower than the rate of increase in the average price level in April 2025.
Meanwhile, amid concerns over Nigeria’s rising debt profile, Senator representing Abia North at the National Assembly, Orji Kalu, has warned that the economy is at risk of collapsing without the government’s borrowings.
Naija News reports that the former Governor of Abia State, while speaking on Channels Television’s Politics Today recently, addressed criticism of the National Assembly’s role in approving executive loan requests.
He said, “Let me tell you, if this economy does not borrow, it will collapse. That is the truth. That is where we are.”
When asked whether legislators adequately scrutinise requests for loans, Kalu dismissed public criticisms, insisting that the due legislative processes are always followed.
The post Nigeria’s Headline Inflation Drops To 22.97% appeared first on Naija News.