New data from the National Bureau of Statistics (NBS) reveals that Nigeria’s headline inflation rate fell to 22.97% in May 2025, down from 23.71% in April, signaling a continued slowdown in price increases.
The May 2025 inflation rate was 10.98 percentage points lower than the 33.95% recorded in May 2024. On a month-on-month basis, inflation eased to 1.53% in May, down from 1.86% in April.
– Urban inflation stood at 23.14% year-on-year, a sharp drop from 36.34% in May 2024. However, month-on-month urban inflation rose slightly to 1.40% (from 1.18% in April).
– Rural inflation declined to 22.70% year-on-year (from 31.82% in May 2024) and saw a major monthly drop to 1.83% (from 3.56% in April).
Food inflation dropped significantly to 21.14% year-on-year (from 40.66% in May 2024), partly due to a revised calculation method. However, month-on-month food inflation rose slightly to 2.19% (from 2.06% in April), driven by slower price declines in staples like yam, cassava, and maize.
Excluding volatile food and energy prices, core inflation fell to 22.28% year-on-year in May (from 23.39% in April and 27.04% in May 2024).
– Inflation continues to moderate, with two straight months of decline.
– Base year adjustments impact year-on-year comparisons.
– Food prices remain a concern despite the annual improvement.
The latest figures suggest some relief for consumers, though economic challenges persist.
Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93.
Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism.
He had done many courses in communication, including the EU-BBC Editing Course in 2002.
Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013).
He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers.
He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 – 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 – 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor.
Dele Fashomi is now the Publisher/Editor-in-Chief of Newstide247.com newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled: Olabiyi Durojaiye – DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography – AGAINST ALL ODDS. There are many other books in the works under his pen.
