Inflation Crisis Deepens as Rates Exceed 30% in Abuja, Ten Nigerian States…Nigeria’s economy is under mounting pressure as inflation continues to rise, with new data revealing that Abuja and ten other states are now experiencing inflation rates exceeding 30%. This alarming development has intensified the economic strain on households, with soaring prices for food, transportation, and essential services pushing many Nigerians further into financial hardship.
According to the latest report by the National Bureau of Statistics (NBS), while the national all-items inflation rate stood at 24.23% in March 2025, some states are facing much higher levels. Kaduna State leads with a year-on-year inflation rate of 33.33%, followed closely by Osun at 32.08%, and Kebbi at 30.74%. Abuja, the Federal Capital Territory, also surpassed the 30% mark, a symbolic indication of the nationwide economic distress. In all affected areas, the major drivers of inflation are skyrocketing food prices, rising transportation fares, and increasing energy costs.
The food inflation crisis has been particularly severe. Staples such as rice, garri, beans, and cooking oil have doubled in price in many markets, making them unaffordable for low- and middle-income families. Transport costs have also risen sharply due to increased fuel prices and logistics expenses, further compounding the cost of goods and services. The combined effect has been a sharp erosion of purchasing power and a surge in poverty and hunger across the country.
This sharp inflation spike has occurred despite Nigeria recording positive economic growth. The World Bank recently acknowledged that the country experienced a robust 4.6% growth in the fourth quarter of 2024, primarily driven by the oil sector and increased investor activity. However, the same report pointed out that the growth has come at a significant cost to ordinary citizens, with high inflation negating the benefits of economic expansion.
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Much of the inflationary pressure has been linked to key fiscal reforms implemented by the federal government. These include the controversial removal of fuel subsidies and the devaluation of the naira, both of which were intended to stabilize public finances and align the currency with market forces. While economists agree that these measures are necessary for long-term fiscal sustainability, they have brought immediate pain to households and small businesses. The World Bank projects that Nigeria’s overall growth rate in 2025 will slow to 3.6% due to inflationary pressures and declining consumer confidence.
Public sentiment reflects widespread frustration with the government’s handling of the economy. Many citizens have taken to social media and protest rallies to express dissatisfaction, while labor unions have threatened strikes over the rising cost of living. In response, the federal government has taken steps to mitigate the crisis, including tightening monetary policy through interest rate hikes and engaging with international partners to seek financial and technical assistance. However, these measures have yet to produce noticeable relief for the average Nigerian.
The inflation crisis has also become a major political issue. With the 2027 general elections on the horizon, economic management has moved to the forefront of national debate. Citizens are demanding clearer plans from political leaders on how they intend to curb inflation, create jobs, and stabilize the economy. Political parties are now under pressure to offer tangible solutions rather than rhetoric, as voters grow increasingly weary of economic hardship and declining living standards.
The ongoing inflation surge is a stark reminder of the fragility of Nigeria’s economic structure and the urgency for more inclusive, people-centered policy interventions. Beyond managing macroeconomic indicators, experts argue that the government must invest in agriculture, improve energy supply, and support local industries to create a more resilient economy. Unless decisive action is taken, the inflation crisis threatens to deepen inequality, undermine growth, and erode public confidence in national leadership.
