Optimism as Nigeria’s Inflation Rate falls to 21.88% in July 2025

Abiola Olawale
Writer

Ad

Fuel Price hike Looms as Dangote Refinery Halts Petrol Sales in Naira

By Abiola Olawale Dangote Petroleum Refinery has announced its decision to suspend sales of premium motor spirit (PMS), commonly known as petrol, in local currency starting from Sunday, September 28, 2025. The New Diplomat reports that the decision by the refinery owned by Africa’s richest person, Alhaji Aliko Dangote has sparked fears about a potential…

Iran recalls envoys to UK, France, Germany as UN sanctions begin again

By Obinna Uballa Iran has recalled its ambassadors to the United Kingdom, France, and Germany for consultations, after the three European powers triggered the “snapback” mechanism that reinstates United Nations sanctions on Tehran for the first time in ten years. “Following the irresponsible action of three European countries in abusing the JCPOA dispute resolution mechanism…

Dangote, PENGASSAN face-off worsen as union cut Gas supplies to Dangote Refinery

By Abiola Olawale The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has issued an urgent directive to its members to halt all gas and crude oil supplies to the Dangote Petroleum Refinery effective immediately. In a strongly worded letter dated September 26, signed by PENGASSAN General Secretary Comrade Lumumba Ighotemu Okugbawa, the…

Ad

By Abiola Olawale

Nigeria’s headline inflation rate has eased to 21.88% in July 2025, marking a continued downward trend from 22.22% in June, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).

The NBS reported that the decline, representing a 0.34% drop month-on-month, signals optimism for economic stabilization.

The NBS also reported that the July 2025 inflation rate is 11.52% lower than the 33.40% recorded in July 2024.

The slowdown is attributed partly to a rebased CPI and a change in the base year to November 2009, which has recalibrated price growth measurements.

“This means that in July 2025, the rate of increase in the average price level was higher than the rate of increase in the average price level in June 2025,” the NBS said.

According to the report, the food inflation rate in July 2025 was 22.74 per cent on a year-on-year basis. This was 16.79 percentage points lower compared to the rate recorded in July 2024 (39.53 per cent).

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp