Nigeria inflation rises to 15.15% ending eight-month decline

• Headline inflation rises to 15.15% in December
• Analysts say uptick reflects base effects, not fundamentals

ABUJA, NIGERIA – Nigeria’s annual inflation rose to 15.15% in December, ending an eight-month slowdown as seasonal pressures and base effects pushed prices higher, official data showed.

Nigeria’s statistics agency said inflation accelerated from 14.45% in November, marking the first increase since early 2025. On a month-on-month basis, prices rose by 0.54%, sharply slower than the 2.22% increase recorded a month earlier.