Nigeria's January 2026 inflation rate expected to remain flat or edge higher

Nigeria's January 2026 inflation rate is projected to stay between 15.15% and 16.25%, according to analysts. This reflects a balance between post-holiday relief in staple food prices and persistent pressures from fuel costs, seasonal supply adjustments, and import-linked goods. Early projections show a delicate equilibrium where improving exchange rate stability and moderating food prices may support a steady print, but underlying structural cost drivers could push the rate marginally higher. Experts like Olatunde Amolegbe (Arthur Steven Asset Management) forecast a flat or slight upward nudge, citing stable post-holiday food and energy prices alongside improved exchange rate conditions. However, Olabode Odunniga (Odunniga Corporation) warns that exchange-rate volatility and agricultural supply uncertainty could challenge disinflation. Nairametrics' January survey shows mixed price trends, with staples like pepper and yams dropping but protein items rising. The outcome will signal early monetary policy direction despite evolving liquidity conditions.

SOURCE: https://nairametrics.com/2026/02/15/january-inflation-rate-to-remain-flat-or-edge-higher-analysts/