Business
Nigeria Inflation Eases to 15.06% in February 2026
Nigeria inflation eased to 15.06% in February 2026, down from 15.10%, while food inflation rose sharply, NBS reports
Nigeria’s inflation rate eased to 15.06 per cent in February 2026, down from 15.10 per cent in January, the National Bureau of Statistics, NBS, reported on Monday.
Also read: Ethanol Mandate Revisited: A Practical Path to Curbing Inflation through Fuel Price Relief
The bureau’s February Consumer Price Index and inflation report indicated that the country’s headline inflation declined by 0.04 percentage points on a month-to-month basis.
However, food inflation surged to 12.12 per cent in February from 8.89 per cent in the previous month, highlighting persistent pressures in essential commodities.
The NBS noted that on a month-on-month basis, headline inflation rose by 2.01 per cent in February, compared with a decline of 2.88 per cent in January.
“This means that in February 2026, the rate of increase in the average price level was higher than the rate of increase in the average price level in January 2026,” the report stated.
Financial analysts at the Financial Derivatives Company, FDC, had predicted a steeper decline, forecasting that February’s headline inflation would fall to 14.07 per cent.
Also read: NBS to Normalise December 2025 Inflation Data
Economists are now observing the rising food costs, warning that the increase could affect household budgets and economic planning despite the overall easing of headline inflation.
Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.
The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.
The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.
The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.
The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.
The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.
The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.
The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.
The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.
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