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Inflation drops to 15.15% in December as NBS adjusts methodology
The National Bureau of Statistics (NBS) on Thursday said Nigeria’s Headline Inflation declined to 15.15 percent in December 2025.....TAP TO CONTINUE READING
Although the figure is higher than 14.45% reported in November, the adjustment in the Consumer Price Index (CPI) increased the figure to 17.33 percent.
The NBS in its monthly report said the December 2025 year-on-year Headline inflation rate, including all other sub-indexes, were obtained through maximisation of the index reference period, that is, using a 12-month index reference period where the average CPI for the 12 months of 2024 is equated to 100.
According to the report, “This is a departure from the single-month index reference period, in which December 2024 was set to 100, which would have produced an artificial spike in the December 2025 year-on-year inflation rate. This artificial spike is induced by the base effect, which is methodological, not structural, resulting in a rate that is not in tandem with current inflationary realities; hence the need to resort to the 12-month index reference period, by equating the entire 2024 to 100.”
It noted that this definitely affects the raising factor used for the re-referencing of the 2024 CPI series and the already released year-on-year inflation rates for January to November 2025.
“This process is in line with International Best Practice as contained in the Consumer Price Index International Monetary Fund (IMF) Manual, specifically in Section 9.125 and the ECOWAS Harmonised CPI Manual, which address index reference period maximisation, following a rebasing exercise.”
It went on to state that the 2024 re-reference CPI and the revised year-on-year inflation rates for January to November 2025 can be found in the Excel Tables published together with this report on the NBS website.
The report further disclosed that the Consumer Price Index (CPI) rose to 131.2 in December 2025, up by 0.7 points from the previous Month (130.5).
“The December 2025 year-on-year Headline inflation rate stood at relative to the November 2025 headline inflation rate (17.33%).”
It said on a year-on-year basis, the December Headline inflation rate was 19.65% lower than the rate recorded in December 2024 (34.80%) and shows that the Headline inflation rate (year-on-year basis) decreased in December 2025 compared to the same month in the preceding year (i.e., December 2024), though with a Different base year, November 2009 = 100.
On a month-on-month basis, it said the Headline inflation rate in December 2025 was 0.54%, which is 0.69% less than the rate recorded in November 2025 (1.22%).
“This means that in December 2025, the rate of increase in the average price level was lower than in November 2025.
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The Nigerian foreign exchange market continues to show dynamic movement today, January 16, 2026, as the British Pound Sterling (GBP) maintains its volatile position against the Nigerian Naira (NGN). Traders and businesses are closely monitoring both the official Nigerian Foreign Exchange Market (NFEM) and the unofficial parallel market for the latest valuation.
Official Market Performance (NFEM)....TAP TO CONTINUE READING
As of the morning of January 16, the British Pound is trading at an average of 1,906.47 NGN in the official window. The day opened with the Naira slightly stronger, but intra-day fluctuations have seen the rate move between a low of 1,902.63 NGN and a high of 1,907.59 NGN.
This narrow trading band suggests a period of relative stability in the official segment compared to previous weeks, though the rate remains significantly elevated compared to historical averages. The NFEM rate is primarily influenced by official liquidity injections from the Central Bank of Nigeria (CBN) and demand from large-scale corporate importers.
Parallel Market Trends
In the parallel (black) market, the exchange rate continues to carry a premium over the official figures. Reports from various Bureau De Change (BDC) hubs in Lagos and Abuja indicate that the Pound is being bought and sold at rates notably higher than the NFEM quotes, often crossing the 1,950 NGN threshold depending on the volume of the transaction and local availability.
The spread between the official and parallel rates remains a point of concern for analysts, as it continues to drive speculative activity and impacts the cost of imported goods and services for the average Nigerian consumer.
Key Market Drivers
Several factors are contributing to the current exchange rate landscape:
Foreign Reserves: Investors are keeping a close watch on Nigeria’s external reserves, which dictate the CBN’s ability to intervene in the market.
Inflationary Pressures: Continued domestic inflation is putting downward pressure on the Naira’s purchasing power.
Global Oil Prices: As Nigeria’s primary source of foreign exchange, any shift in global crude prices directly impacts the supply of Dollars and Pounds in the local market.
Market participants expect the rates to remain sensitive to any policy announcements from the fiscal or monetary authorities as the day progresses.
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A chieftain of the Peoples Democratic Party, PDP, Segun Sowunmi, says former Labour Party presidential candidate, Peter Obi, is not a strong opposition for president Bola Tinubu in the forthcoming 2027 general elections.....TAP TO CONTINUE READING
Sowunmi stated this on Thursday while responding to questions in an interview on ‘Politics Today’, a programme on Channels Television monitored by DAILY POST.
He said, “The people sitting in authority at governors level in the Southeast were not that inspirational. You have to go back and look at the people sitting there now.
“Some of them are delivering on values and assignments. If they are inspirational leaders, none of them can Obi run over just like that. It’s not as easy as that.
“We created that movement believing that we should be able to tour that glass ceiling so that our Southeast brothers can get it done.
“Unfortunately, his inability to tame the excessive bigotry and the anger and the quarrel made a lot of people to push back.”
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Breaking News
Why I Won’t Be Removing My Tattoos Despite Giving My Life To Christ – Actress Tonto Dikeh Reveals
Since reconnecting with her faith, Tonto has been open about her spiritual journey, sharing videos of her prayers and speaking in tongues, showing the changes in her life.....TAP TO CONTINUE READING
Tonto Dikeh, the Nollywood actress, has announced her decision to keep her tattoos, even after recommitting herself to her Christian faith.
Since reconnecting with her faith, Tonto has been open about her spiritual journey, sharing videos of her prayers and speaking in tongues, showing the changes in her life.
During an interaction with a fan online, she was asked if she would consider removing her tattoos now that she has renewed her faith.
Tonto explained that although she once thought about removing them, she does not want to risk harming her skin with laser procedures.
She added that her spiritual beliefs do not require her to erase the tattoos, stating that her faith is not affected by the ink on her body.
“Mama, if it was possible to take off tattoos, would you have taken yours off?” the fan asked.
“Yes, love, I would have, but I’m stuck with them and I ain’t doing no laser to spoil my good skin. And the good thing is Jesus don’t care.” she responded.
The mother of one also recently announced that she will be more careful about the people and brands she works with this year.
She stated that respect is essential and that she will not promote or support anyone who shows hostility or disrespect toward her, her faith, or her spiritual leaders.
Dikeh also said that she will avoid being part of projects or collaborations that do not value her contributions or protect her work.
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