LAGOS, April 15 – Nigeria’s inflation rate rose in March for the first time in a year, reversing a months-long easing trend as higher fuel costs fed through into the broader economy.
Annual consumer inflation climbed to 15.38% in March from 15.06% in February, according to data from the National Bureau of Statistics. The increase follows 11 consecutive months of declining price pressures.
The rebound comes as rising domestic fuel prices, driven by geopolitical tensions, ripple across supply chains and push up costs for businesses and households. Food inflation, a key component of the headline figure, accelerated to 14.31% year-on-year from 12.12% in the previous month.
The shift presents a fresh challenge for President Bola Tinubu’s administration ahead of elections scheduled for early next year, as policymakers seek to balance inflation control with economic stability.
