Nigeria's inflation has fluctuated significantly, with peaks such as 29.3% in 1996 due to fiscal imbalances and structural economic challenges. Inflation decreased to 5.4% in 2007 but rose sharply to 24.7% in 2023, driven by currency devaluation, supply chain disruptions, and high energy prices.
Projections suggest a gradual decline to 14.0% by 2028, reflecting the anticipated effects of fiscal reforms and improved monetary policy measures.
Projections suggest a gradual decline to 14.0% by 2028, reflecting the anticipated effects of fiscal reforms and improved monetary policy measures.
Find out more through related statistics on Nigeria’s annual GDP, Nigeria’s working-age population proportion, Nigeria’s population numbers.
