Nigeria’s inflation rate has dropped for the sixth consecutive month, reaching 18.02% percent in September 2025, its lowest in more than three years.
On paper, it looks like relief for consumers. But at Oyingbo Market in Lagos, traders tell a different story one that shows the figures don’t always match the reality on the streets.
Traders say only a few items have become cheaper in recent weeks. A bag of rice that cost ₦80,000 in January now sells for about ₦70,000. Prices of beans and eggs have also eased slightly.
But tomatoes have more than doubled, and bread a staple for most households continues to climb.
“Tomato no cheap,” one vegetable seller said. Another added, “Fuel don rise, so fare go rise too. E no pay us.”
The recent petrol price hike to ₦922 per litre has pushed up transportation costs, wiping out any gains from the drop in inflation.
A bus driver explained, “Every extra naira for fuel shows up in food prices. Before you reach market, money don finish.”
According to the National Bureau of Statistics (NBS), headline inflation dropped from 20.12 percent in August to 18.02 percent in September — a 2.1 percentage point decline.
This marks the sixth consecutive month of decline since April 2025, helped by statistical adjustments such as the new base year and reweighting of items in the consumer price basket.
Inflation had previously peaked at nearly 35 percent in December 2024 before it began to ease.
Despite the numbers, many Nigerians say the decline hasn’t translated to cheaper goods or improved living conditions.
At Oyingbo Market, food prices remain unpredictable. Traders argue that rising fuel costs, logistics challenges, and the unstable exchange rate continue to drive prices upward.
A 9am News report shows that while inflation may be slowing statistically, the cost of survival for many families remains high.
Inflation may be falling on paper, but in Lagos markets, prices still have a life of their own.
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