A new survey by the Central Bank of Nigeria (CBN) has revealed growing optimism among Nigerians that inflationary pressures will moderate over the next six months, despite persistent concerns over rising living costs and elevated prices of essential goods and services.
The findings, contained in the apex bank’s latest Inflation Expectations Survey, showed that while many households and businesses still anticipate prices to rise in the near term, a significant number expect the pace of inflation to slow over the medium term. The survey reflects improving confidence in the country’s economic outlook amid ongoing monetary and fiscal reforms.
According to the report, respondents identified energy costs, transportation expenses, exchange rate fluctuations and infrastructure challenges as key factors driving current inflationary pressures. However, expectations of easing price growth over the coming months suggest that Nigerians believe recent policy measures could help stabilize the economy.
The survey also indicated strong public engagement with the CBN’s policy communications, with many respondents expressing confidence in the bank’s efforts to address inflation. At the same time, a majority favoured lower interest rates as businesses and households continue to grapple with high borrowing costs.
Recent data from the National Bureau of Statistics showed that Nigeria’s headline inflation rate rose to 15.69 per cent in April 2026 from 15.38 per cent in March, driven mainly by increases in food, transportation, healthcare and energy costs. Nevertheless, monthly inflationary pressure slowed, suggesting that the rate of price increases may be beginning to moderate.
Analysts say the survey results align with broader expectations that inflation could gradually decline if exchange rate stability is sustained, food supply improves, and global commodity prices remain relatively stable. The CBN has consistently maintained that its policy measures are aimed at restoring price stability and supporting sustainable economic growth.
