Nigeria’s inflation rate has climbed to 15.93% in May 2026, according to the latest data released by the National Bureau of Statistics (NBS), marking a continued upward trend in the country’s cost of living.
The report shows that food inflation remains the biggest driver of the increase, with rising prices of staple foods such as rice, maize, bread, and vegetables significantly affecting
household spending. Transportation costs and energy prices also contributed to the overall inflation surge.
Economists warn that persistent inflation could further reduce purchasing power and place additional pressure on Nigerian households already struggling with economic challenges. Many analysts are calling for urgent government intervention to stabilize food supply chains and support local agricultural production.
Financial experts suggest that boosting domestic manufacturing, improving security in farming regions, and reducing dependence on imports could help ease inflationary pressures in the long term. The Central Bank is also expected to review monetary policies in response to the latest figures.
Despite the challenges, some experts believe that targeted reforms and agricultural investments could help stabilize prices in the coming months if properly implemented.