CBN forecasts inflation slowdown to 12.94% in 2026

The Central Bank of Nigeria (CBN) says inflation in the country is expected to drop to an average of 12.94 percent in 2026, largely due to lower food and petrol prices.

This projection was contained in the bank’s 2026 macroeconomic outlook released on Wednesday, where it also predicted that Nigeria’s economy would grow by about 4.49 percent next year.

According to the CBN, the expected growth will be driven by ongoing structural reforms and a gradual relaxation of tight monetary policies.

It explained that headline inflation should ease as food becomes more affordable and the cost of premium motor spirit (petrol) declines.

The outlook follows recent reductions in petrol prices across the country, fueled by intense competition in the downstream sector.

Dangote Refinery recently cut its ex-depot petrol price, pushing pump prices nationwide to between ₦739 and ₦910 per litre.

Figures from the National Bureau of Statistics also show that food inflation eased to 11.08 percent in November 2025, supporting expectations of further moderation in overall inflation.