Why Falling Inflation Hasn’t Ended Nigeria’s Cost-of-Living Crisis

Nigeria’s headline inflation is easing, but the pressure households and businesses feel has not disappeared.

The brief examines why 15.43% headline inflation can coexist with 20.31% food inflation, why monetary tightening alone cannot resolve Nigeria’s predominantly supply-side inflation pressures, and what coordinated action is needed across fiscal policy, agriculture, logistics, infrastructure and social protection. It also sets out practical recommendations for businesses navigating cost and supply-chain pressures.

Why Falling Inflation Hasn’t Ended Nigeria’s Cost-of-Living Crisis