Economy
Nigeria inflation rises to 15.38% as food prices surge
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).
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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.
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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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Economy
Governor Dauda Lawal Join VP Shettima’s Delegation to Benin Republic, Seeks Industrial Model to Boost Zamfara’s Agric Zones
Zamfara State Governor Dauda Lawal has described the Glo-Djigbé Industrial Zone (GDIZ) as a practical blueprint for transforming Zamfara state’s agricultural sector, as he joined Vice President of Nigeria, Senator Kashim Shettima and five other governors on a working visit to the Benin Republic industrial hub on Friday.
The delegation toured the 1,640-hectare public-private industrial platform, inspecting integrated textile and agro-processing facilities where locally produced cotton is converted into yarn, fabric and finished garments while cashew and soybean are processed for domestic and export markets. GDIZ, developed by the Beninese government and ARISE Integrated Industrial Platforms, has created more than 25,000 jobs since production began in 2021.
For Governor Lawal, who presides over an agrarian state with vast arable land and a strong comparative advantage in crop production, the visit presented an opportunity to draw direct lessons for Zamfara’s agricultural transformation agenda.
“Zamfara holds a strong comparative advantage in agriculture. We grow all crops in the state, we are not limited to soybeans. We have the land and it is fertile,” Governor Lawal had told global investors at the Africa Investment Forum in Morocco last November, where he signed a strategic Memorandum of Understanding with the Ministry of Finance Incorporated (MOFI) to drive large-scale agricultural transformation under the INTEGRANIUM Initiative.
The GDIZ visit is aimed at strengthening the implementation of Nigeria’s Special Agro-Industrial Processing Zones Programme, drawing practical lessons from Benin’s approach to agricultural value addition, industrial infrastructure, investment mobilisation and export-oriented production. Particular attention was given to the textile park’s integrated production system covering cotton spinning, weaving, fabric processing and garment manufacturing. Governor Lawal believes that Zamfara State can benefit from the $370 billion worth of global cotton valuation by ensuring Zamfara grows more cotton and can also lead the charge by reviving moribund textile manufacturing hubs and value chain which could generate millions of jobs, expand non-oil exports and stimulate economic activities.
Governor Lawal’s participation in the delegation aligns with Zamfara’s recently launched 10-year Development Plan (2025–2034), which envisions the state becoming “a benchmark for transformative economic growth, not merely for Nigeria, but the continent of Africa”. The plan prioritises maximising Zamfara’s agricultural and natural resource strengths through partnerships, mechanised farming, agro-processing and value chains to create jobs, improve food security and reduce poverty-driven insecurity.
Governor Lawal was also in company of other state Governors like; Hope Uzodimma (Imo), Caleb Mutfwang (Plateau), AbdulRahman AbdulRazaq (Kwara), Dikko Radda (Katsina), and Umar Namadi (Jigawa). The visit is expected to inform the development of garment-training facilities and dedicated processing infrastructure near agricultural production communities across Nigeria.
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