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Nigeria inflation rises to 15.38% as food prices surge

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Nigeria inflation

Nigeria inflation rises March 2026 to 15.38% as food, transport, and housing costs push prices higher, according to the National Bureau of Statistics

Nigeria’s inflation rate rose to 15.38 per cent in March 2026, reversing a recent easing trend as rising food, transport, and accommodation costs pushed prices higher, according to the National Bureau of Statistics (NBS).

Also read: Wike warns Abuja contractors over Tinubu anniversary deadlines

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The figure marks the first increase in headline inflation since March 2025, signalling renewed pressure on household spending across the country.

The latest Consumer Price Index report released on Wednesday showed that inflation rose from 15.06 per cent in February 2026 to 15.38 per cent in March 2026.

The NBS noted that the Consumer Price Index climbed to 135.4 points in March, reflecting a steady increase in the cost of goods and services.

On a monthly basis, inflation also accelerated sharply, indicating faster price increases within a short period.

Food and non-alcoholic beverages remained the largest contributors to inflation, followed by restaurants, accommodation services, and transport costs.

Food inflation continued to place significant pressure on households, driven by rising prices of staple items such as yams, cassava, tomatoes, and potatoes.

Urban inflation stood at 14.64 per cent, while rural inflation was higher at 17.22 per cent, highlighting stronger price pressures outside major cities.

The report also showed a sharp monthly spike in rural inflation, which rose to 6.73 per cent in March from 0.71 per cent in February.

Core inflation, which excludes volatile food and energy items, increased to 16.21 per cent year-on-year, indicating broader underlying price pressures.

Despite being lower than March 2025 levels, the data suggests inflationary momentum is building again across key sectors of the economy.

At the state level, inflation varied widely, with Bayelsa recording the highest rate, while Osun posted the slowest increase.

Also read: Wike warns Abuja contractors over Tinubu anniversary deadlines

The World Bank has warned that rising global oil prices could further push inflation higher in Nigeria, particularly through fuel, transport, and food supply chains.

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Governor Dauda Lawal woos investors, highlights Zamfara’s economic opportunities at CEO Forum

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Zamfara State Governor, Dauda Lawal, has called for stronger collaboration between government, businesses and investors to unlock private capital and drive inclusive economic growth in the state.

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Lawal made the call while delivering a Special Policy Address at the 2026 CEO Forum organised by the Global Compact Network Nigeria in Lagos.

The forum, held under the theme “Financing a Dignified Future: Aligning Business Action, Policy and Capital,” brought together chief executives, senior government officials, industry leaders, diplomats, trade commissioners and international development partners.

Participants were drawn from key sectors of the economy, including oil and gas, energy, manufacturing, construction and infrastructure.

The governor spoke on the growing competition among states for increasingly selective private capital and the factors that could transform an economic opportunity into an investable proposition.

He explained how his administration was working to bridge the gap between available economic opportunities and investment, with emphasis on building investor confidence while ensuring that investments deliver meaningful outcomes for the people of Zamfara.

According to him, attracting investment requires more than identifying economic opportunities, but also creating the conditions, policies and partnerships capable of giving investors confidence to commit capital.

The forum provided a platform for business leaders, government officials and investors to examine ways of aligning business strategies, public policies and capital deployment to unlock productive investment.

Discussions also focused on identifying businesses, sectors and projects with strong potential but facing difficulties in accessing financing, as well as measures to make such opportunities more attractive to investors.

The organisers also introduced the concept of the “Dignity Dividend,” examining how investment-led growth could translate into better jobs, stronger businesses, increased productivity, local value creation and broader economic participation.

Another key component of the forum was the identification of actionable commitments and partnerships that participating institutions could advance over the next six to 12 months.

Notable speakers at the event included chief executives of First Bank Group, Access Bank, Flour Mills of Nigeria Plc, Nigeria Economic Summit Group, Nigerian Exchange Group, Chellarams Plc, SecureID Group and Greenwich Merchant Bank Plc, among others.

The organisers said the session would culminate in a live showcase of the Business Value and Sustainability Platform (BVSP), described as a standing coalition of business, capital and policy actors designed to sustain the dialogue.

The platform is also expected to contribute to shaping Nigeria’s private-sector engagement during the United Nations General Assembly High-Level Week.

The governor’s participation in the forum comes as Zamfara seeks to strengthen its economic base, attract productive investment and create opportunities that can support sustainable livelihoods and wider participation in the state’s economy.

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Fuel subsidy debate: Between economic reform and political expediency

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Atiku petrol subsidy plans have reignited Nigeria’s 2027 debate as the ADC candidate promises relief while the Presidency demands clarity

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Lawal Strengthens Zamfara Judiciary With ₦600m Support

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The governor distributed official vehicles to judicial officers and said about 90 per cent of court rehabilitation projects across the state had been completed

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