Nigeria’s headline inflation fee has dropped to 24.48% year-on-year in January 2025, following the rebasing of the Client Value Index (CPI), in response to knowledge launched by the Nationwide Bureau of Statistics (NBS).
There’s a decline within the normal value degree of products and providers in comparison with 34.80% in December 2024, which was calculated utilizing the earlier methodology.
The latest rebasing of Nigeria’s CPI by the NBS considerably altered inflation metrics throughout the nation.
The NBS up to date the bottom 12 months from 2009 to 2024, revised the weighting construction to mirror present spending patterns, and expanded the product basket to raised seize family consumption. The shift from the Dutot index to the Jevon index additionally improved value measurement accuracy. Whereas the revised CPI figures counsel decrease inflation, the truth for a lot of households stays unchanged, as meals and important items proceed to drive up residing prices.
Nevertheless, regardless of this methodological change, regional disparities in the price of residing persist, with some states remaining considerably costlier than others.
Under is a rating of the ten costliest states in Nigeria as of January 2025:
10. Kano
Kano ranks because the tenth costliest state in Nigeria, with an all-items inflation fee of 12.51 per cent in January 2025, a pointy decline from the beforehand recorded 35.81 per cent in December 2024. Meals inflation within the state additionally fell considerably from 40.39 per cent to 12.34 per cent following the rebasing. The drastic discount in these figures displays the NBS’s adjustment within the CPI methodology, which now incorporates a broader and extra consultant consumption basket. Regardless of the adjustments, Kano stays one of many priciest states, with meals costs and normal residing bills nonetheless exerting strain on family incomes.
9. Borno
Borno is the ninth costliest state, with an all-items inflation fee of 12.52 per cent in January 2025, down from 32.05 per cent recorded in December 2024. Meals inflation skilled a fair sharper decline, dropping from 41.69 per cent to 10.49 per cent inside the identical interval. Nevertheless, persistent provide chain disruptions, exacerbated by safety challenges within the area, proceed to push up prices, preserving Borno among the many costliest states regardless of the methodological changes.
8. Zamfara
Zamfara’s all-items inflation fee fell from 39.63 per cent in December 2024 to 13.82 per cent in January 2025, whereas meals inflation dropped from 46.39 per cent to 11.81 per cent. The state has traditionally recorded excessive inflation figures attributable to logistical challenges affecting the distribution of products, significantly meals objects. Meals stays a significant price driver within the state, and regardless of the decrease reported inflation, affordability stays a key concern for residents.
7. Rivers
Rivers State stays one of many costliest states in Nigeria, with an all-items inflation fee of 13.84 per cent in January 2025, a decline from 33.32 per cent in December 2024. Meals inflation additionally dropped from 35.43 per cent to 12.27 per cent over the identical interval. As a significant oil-producing state, Rivers experiences greater residing prices, significantly in providers and housing. The price of important providers, significantly lodging and transport, stays a big burden on residents.
6. Enugu
Enugu ranks sixth amongst Nigeria’s costliest states, with an all-items inflation fee of 14.69 per cent in January 2025, in comparison with 34.68 per cent in December 2024. Meals inflation additionally noticed a substantial decline, dropping from 43.15 per cent to 14.40 per cent. Enugu’s price of residing is primarily pushed by rising meals costs and rising housing prices, which stay elevated regardless of the rebasing.
5. Kaduna
Kaduna’s inflation fee for all objects stood at 14.82 per cent in January 2025, a decline from 36.44 per cent in December 2024. Meals inflation adopted an identical development, falling from 42.21 per cent to 13.83 per cent. The rebasing train considerably impacted Kaduna’s reported figures, aligning them extra carefully with present consumption traits. Nevertheless, important items and providers proceed to see value will increase, making the state one of the vital costly locations to reside regardless of the decrease official inflation numbers.
4. Abia
Abia recorded an all-items inflation fee of 15.38 per cent in January 2025, down from 36.18 per cent in December 2024. Meals inflation within the state additionally noticed a considerable drop, falling from 42.79 per cent to fifteen.21 per cent. The state’s price of residing has remained excessive attributable to persistent will increase within the costs of important items and providers.
3. Katsina
Katsina ranks third on the record, with an all-items inflation fee of 15.99 per cent in January 2025, down from 28.33 per cent in December 2024. Meals inflation dropped from 37.12 per cent to 13.61 per cent following the rebasing. The state noticed one of many largest declines in reported inflation because of the new weighting construction. Nevertheless, the price of meals stays a significant concern, with value pressures persisting regardless of the decrease headline inflation figures.
2. Ebonyi
Ebonyi stays one among Nigeria’s costliest states, with an all-items inflation fee of 16.13 per cent in January 2025, in comparison with 34.90 per cent in December 2024. Meals inflation, which was beforehand at 42.79 per cent, declined to 16.88 per cent. The state’s excessive meals costs and rising price of important providers contribute to its elevated place on the record. Whereas the rebasing train adjusted the inflation metrics, the underlying value traits point out that Ebonyi stays an costly place to reside.
1. Imo
Imo is the most costly state to reside in Nigeria as of January 2025, with an all-items inflation fee of 17.77 per cent, a decline from 29.99 per cent recorded in December 2024. Meals inflation additionally dropped from 36.33 per cent to 16.80 per cent following the rebasing. The excessive price of residing in Imo is pushed by persistent will increase in meals costs and important commodities.
