The Presidency has said President Bola Ahmed Tinubu’s economic reforms have helped Nigeria beat its 2025 inflation target, following a sustained decline in headline inflation.
According to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS), Nigeria’s headline inflation rate dropped to 14.45 per cent in November 2025. The figure represents the eighth consecutive month of decline, signalling a potential turnaround in the country’s economic outlook.
Reacting to the data in a post on X on Monday, the Special Adviser to the President on Policy Communication, Daniel Bwala, said President Tinubu had set a 15 per cent inflation target in January, a goal he noted was widely doubted at the time.
Bwala said the November figure declined from 16.05 per cent recorded in October, describing the development as evidence of the impact of what he termed “tough, radical reforms and disciplined economic management.”
“In January, President Bola Ahmed Tinubu set a 15% inflation target. Many doubted it.
“Today, the facts have answered them. Headline inflation eased to 14.45% in November 2025, beating the target and dropping from 16.05% in October,” he wrote.
He maintained that the improvement shows Nigeria is “steadily turning the corner,” adding that the President’s economic promises are being fulfilled.
The NBS report showed that the CPI rose to 130.5 points in November 2025 from 128.9 points in October, reflecting a 1.6-point month-on-month increase. However, year-on-year inflation fell sharply to 14.45 per cent from 16.05 per cent in October.
On a year-on-year basis, the November 2025 inflation rate is 20.15 percentage points lower than the 34.60 per cent recorded in November 2024.
Month-on-month, headline inflation rose slightly to 1.22 per cent from 0.93 per cent in October, while food inflation increased to 1.13 per cent from a negative 0.37 per cent recorded in the previous month.
President Tinubu had outlined the 15 per cent inflation target during the presentation of the 2025 budget and reaffirmed it in his New Year’s address, describing it as part of broader efforts to restore macroeconomic stability after inheriting an inflation rate of over 22 per cent in May 2023.
