When the Nigerian Bureau of Statistics (NBS) announced that inflation had declined for the seventh consecutive month, falling from 34.6% last year to 16.05% in October 2025, policymakers celebrated. On paper, the trajectory suggested a successful year of monetary policy tightening, stable exchange rates, and improved food supply.
Yet for households in Abuja’s Nyanya, Lagos’ Ojodu, and Kano’s Sabon Gari, the statistical victory remains largely invisible.
Residents report soaring rents, stubbornly high food prices, and continued pressure on daily necessities from transportation to school fees, making it difficult to feel the relief the numbers promise.
A field survey by the News Agency of Nigeria (NAN) across major markets in Abuja, including Lugbe, Nyanya, and Orange Market, revealed that most residents still struggle to afford basic food items.
At Orange Market, traders reported mixed trends: the price of a dustbin basket of tomatoes has fallen to between N5,000 and N6,500 from N7,500 in September, while pepper dropped significantly from N3,000 to N1,500 per basket. Conversely, onions increased slightly to N4,500 from N3,500–N4,000, and pepper rose to N5,500 from N3,500.
In Lugbe Market, tomatoes now sell for around N9,000 per dustbin basket, onions for N6,500, pepper for N2,000 per plate, and a mudu of beans averages N1,800, down from N2,500 earlier in the year. Prices of Big Bull rice have fallen from N95,000 to N55,000 per 50kg bag, while Optimum rice decreased to N56,000 from N65,000. Yams also saw a drop, with five medium tubers selling for about N8,000 compared to N15,000 in August.
During the 303rd Monetary Policy Committee (MPC) meeting, the final MPC session for 2025 held in Abuja, a journalist asked why declining inflation does not translate to tangible relief for ordinary Nigerians.
CBN Governor Olayemi Cardoso acknowledged the reality: “You are absolutely right. The macro indicators look better, but households still feel the pressure.”
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He explained that Nigeria had only recently transitioned from a period of market instability to one of stability, emphasising that investment and growth take time to translate into real-world relief.
“After stability comes investment, and after investment comes growth. Relief may not be immediate, but it will come in the fullness of time.”
Why relief is lagging
Experts said the drop in the headline inflation does not necessarily mean prices are coming down; rather, it gives some respite to consumers from a halt in further rises.
“When we say inflation is dropping, what it means is that the rate of increase is slowing, not that prices are coming down,” said Muda Yusuf, the chief executive officer of the Centre for Promotion of Private Enterprises (CPPE).
“Deflation is a drop in price, but inflation is a decrease in the rate of the increase in prices,” the CPPE boss added.
Dr Tunde Akinsola, an economist based in Abuja, said, “Nominal prices might have reduced slightly, but the purchasing power of the average household has not improved. Without income growth or welfare support, the benefits of lower inflation remain largely on paper.”
Ibrahim Anas, a policy researcher at the University of Abuja, echoed this view, noting, “Wages remain very low, while the cost of living in Abuja continues to rise. Most residents are not feeling the effects of these lower inflation numbers.”
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Governor Cardoso emphasised that macroeconomic stability lays the foundation for sustained growth, but for ordinary Nigerians, the statistical gains may remain abstract until the benefits reach their wallets.
For now, Nigerians have the numbers, but real relief, cheaper food, affordable rents, and increased purchasing power remain a horizon yet to be reached.
Esther Ososanya is an investigative journalist with Pinnacle Daily, reporting across health, business, environment, metro, Fct and crime. Known for her bold, empathetic storytelling, she uncovers hidden truths, challenges broken systems, and gives voice to overlooked Nigerians. Her work drives national conversations and demands accountability one powerful story at a time.
