Presidency Assures Nigerians of Single-Digit Inflation Target

The Nigerian Presidency has assured citizens that the country’s inflation rate will soon fall to single digits, citing current economic policies and improving indicators. This declaration comes as recent data shows a consistent decline in inflation for the fifth consecutive month, with the rate easing to 20.12% in August 2025.

Officials attribute this positive trend to foreign exchange stability, early harvest inflows, and relatively subdued global commodity prices. They acknowledge, however, that persistent food supply constraints and seasonal factors continue to exert upward pressure on monthly inflation figures.

The Central Bank of Nigeria has expressed growing optimism about the economy’s trajectory, highlighting improvements in inflation control and FX stability. The bank’s Governor has reiterated its determination to collaborate with fiscal authorities to ensure policy consistency and reduce uncertainties, with the aim of achieving single-digit inflation.

This assurance is part of broader government efforts to stabilize the economy and restore public confidence in the nation’s financial system.