At 25.76%, Ekiti, Ogun with highest inflation rate in South West, says NBS
A report by the National Bureau of Statistics (NBS) on Monday disclosed that Ekiti and Ogun states with 25.76 per cent year-on-year (YoY) growth each in February 2025 have the highest inflation rate among other states in the South West region of Nigeria.
The report by NBS disclosed that Nigeria’s inflation rate dropped to 23.18per cent in February 2025 from 24.48per cent reported in January 2025.
“Looking at the movement, the February 2025 Headline inflation rate showed a decrease of 1.30per cent compared to the January 2025 headline inflation rate,” NBS said.
According to the NBS report, Ondo state with 15.82 per cent, followed by Osun state with 16.68 per cent has the lowest inflation rate in February 2025.
The report by NBS disclosed that Oyo state inflation rate as of February 2025 stood at 16.77 per cent while that of Lagos, 23.21 per cent.
Across the country, the NBS disclosed the all Items inflation rate on a YoY basis was highest in Edo (33.59per cent), Enugu (30.72per cent ), and Sokoto (30.19per cent), while Kaduna (15.45per cent), Akwa Ibom (15.53per cent), Plateau (15.74per cent) recorded the lowest rise in Headline inflation on YoY basis.
On a Month-onMonth basis, however, February 2025 recorded the highest increases in Sokoto (11.98per cent), Kogi (11.38per cent), Edo (8.87per cent), while Kaduna (-8.83per cent), Ondo (-4.78per cent) and Plateau (-3.73per cent) recorded the lowest rise in Month-on-Month inflation.
“In February 2025, food inflation on a Year-on-Year basis was highest in Sokoto (38.34per cent), Edo (35.08per cent), Nasarawa (33.53per cent), while Adamawa (12.18per cent), Ondo (13.66per cent), and Oyo (15.55per cent) recorded the slowest rise in Food inflation on Year-on-Year basis.
“On a Month-on-Month basis, however, February 2025 Food inflation was highest in Sokoto (18.83per cent), Nasarawa (15.32per cent), and Kogi (11.65per cent) while Ondo (-9.81per cent), Kaduna (-8.91per cent), and Oyo (-6.42per cent) recorded decline in food inflation on Month-on-Month basis,” the report added.
