The Central Bank of Nigeria (CBN) has projected that headline inflation will average to a mean of 12.94% in 2026, pushed by easing meals costs and a decline in the price of premium motor spirit (PMS).
The projection is contained within the apex bank’s 2026 Macroeconomic Outlook for Nigeria.
In response to the CBN, improved home provide circumstances and stabilising vitality costs are anticipated to scale back price pressures on households and companies, supporting total value stability.
What the CBN is saying
Within the outlook report, the CBN stated inflationary pressures are anticipated to ease in 2026 as meals and vitality costs decline.
“Headline inflation is projected to average to an estimated common of 12.94 per cent in 2026, pushed by declining meals and premium motor spirit (PMS) costs,” the apex bank stated.
The CBN additionally projected a bullish capital market outlook for 2026, supported by ongoing bank recapitalisation, rising investor confidence, and coverage measures aimed toward fostering financial development.
The apex bank recognized a number of elements anticipated to affect development in financial aggregates in 2026, together with change price actions, fiscal operations, election-related spending, and the continued implementation of prudential and regulatory measures.
In response to the CBN, these variables will form liquidity circumstances and credit score growth within the economic system, significantly as political actions forward of elections improve authorities spending and monetary flows.
The outlook builds on latest coverage tightening and structural reforms aimed toward restoring macroeconomic stability after a chronic interval of elevated inflation and foreign money volatility.
What this implies
If realised, the projected moderation in inflation would mark a major enchancment in Nigeria’s value setting, doubtlessly easing strain on customers and bettering enterprise planning.
A bullish capital market outlook additionally suggests stronger investor participation, significantly as bank recapitalisation and coverage reforms deepen market confidence.
The CBN stated it stays dedicated to deploying acceptable coverage instruments to maintain macroeconomic stability, help financial development, and strengthen the monetary system amid home and world financial uncertainties.
What it’s best to know
Nigeria’s headline inflation price moderated to 14.45 per cent in November 2025, marking a major slowdown from the 16.05 per cent recorded in October 2025.
The decline of 1.6 share factors month-on-month indicators easing value pressures throughout the economic system after a number of months of elevated inflation, in accordance with the Nationwide Bureau of Statistics (NBS).
In December 2024, President Bola Tinubu declared the Federal Authorities’s dedication to decreasing Nigeria’s inflation price from 34.6% to fifteen% by the top of 2025.
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