In a paradox of national statistics and local suffering, Nigeria’s inflation rate eased to 23.71% in April 2025—its lowest in six months—yet the cost of living continues to spiral out of control in key regions across the country. The Federal Capital Territory, Abuja, and ten other states bucked the trend with inflation rates soaring above 30%. Enugu State led the pack with a staggering 36%, followed closely by Kogi, Imo, Rivers, and Akwa Ibom.
Analysts say the surge in these areas is largely driven by the relentless rise in food prices, compounded by supply chain disruptions, insecurity in food-producing regions, and the continued depreciation of the naira. In Wuse Market, Abuja, a small bag of rice now sells for over ₦18,000, up from ₦12,000 just three months ago, while tomatoes—once a kitchen staple—are increasingly being treated like luxury goods.
“This so-called decline in inflation is only visible in charts and economic briefings,” lamented Maryam Yusuf, a single mother of three in Kubwa. “Our realities are different. Every visit to the market feels like a robbery.”
Despite assurances from the Central Bank and the Ministry of Finance that tight monetary policy is beginning to yield results, many believe the pace of progress is too slow for ordinary Nigerians to feel any genuine relief. Business groups and trade associations are unanimous in their verdict: the macro gains have yet to trickle down to the micro economy.
“The Central Bank can celebrate the national average dipping below 24%, but we are yet to see any meaningful impact on transport costs, electricity tariffs, or the price of a loaf of bread,” said Mr. Emeka Ofor, Chairman of the Urban Retailers Association in Onitsha.
The World Bank, in its 2025 Q2 economic outlook, projected an average inflation of 22.1% for the year, crediting the forecast to aggressive interest rate hikes, fuel subsidy removal, and a string of structural reforms under President Bola Ahmed Tinubu’s administration. Yet, the international body also warned that these reforms must be accompanied by effective social safety nets to avoid further deepening inequality and hardship.
Historically, Nigeria has struggled with inflation, but the current phase—marked by post-subsidy turbulence, unstable power supply, and insecurity in agrarian communities—has been particularly punishing. Experts argue that while reforms may be necessary for long-term stability, the absence of cushioning measures could ignite further unrest, especially among urban youths and rural farmers.
In many affected states, governments have resorted to ad-hoc interventions—distributing palliatives and slashing levies for small traders—but critics say such efforts are neither sustainable nor systemic.
As one civil society leader in Enugu put it: “You can’t pacify a starving nation with press statements and pilot programs. What we need is a Marshall Plan for food security, job creation, and rural development.”
With over 30% inflation in nearly a quarter of the country, the economic recovery remains uneven—and dangerously so. If not urgently addressed, this disparity risks becoming a ticking time bomb beneath the nation's fragile social fabric.