Nigeria’s “Inflation Drop” Only Exists on Paper – Market Realities Tell a Different Story
Despite claims by the National Bureau of Statistics (NBS) that Nigeria’s headline inflation rate dropped to 23.71% in April from 24.23% in March 2025, the reality on the streets tells a much harsher story. For millions of Nigerians, this so-called 0.52% decrease exists only in newspaper headlines—not in their wallets, kitchens, or market stalls.
The government and its institutions continue to boast of marginal improvements in economic indicators, yet the cost of basic goods and services remains intolerably high. A bag of rice, a carton of noodles, a litre of fuel, or a simple bus ride continues to cost more with each passing week. For the average Nigerian, there’s no visible difference between March and April except perhaps in increased frustration and desperation.
This disconnect between official statistics and market realities raises critical questions about transparency and accountability in government reporting. Who benefits from these statistics? Certainly not the petty trader struggling to buy wholesale goods, the unemployed graduate forced into roadside hustles, or the family forced to skip meals because food has become a luxury.
Corruption remains a central player in Nigeria’s inflation drama. Billions of naira meant for infrastructure, agriculture, and social welfare often disappear into the pockets of public officials. Instead of addressing the root causes of inflation such as poor infrastructure, unstable power supply, over-reliance on imports, and mismanagement of public funds the government prefers to release figures that paint a distorted picture of progress.
If inflation is truly falling, why does everything remain expensive? Why do salaries and wages continue to lose value, while lawmakers receive outrageous allowances and subsidies? Why are fuel prices still volatile despite subsidy reforms? The answers lie not in data charts but in a deeply corrupt system where the elite manipulate numbers to pacify the masses and secure international loans.
Until Nigeria tackles the systemic corruption that drives up prices and erodes trust in public institutions, statistical “victories” will remain hollow. A real drop in inflation must be felt by the people not just published in bulletins. Until then, Nigerians will continue to ask the same hard question: Who is this inflation really dropping for?
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Nigeria’s “Inflation Drop” Only Exists on Paper – Market Realities Tell a Different Story