World Bank has stated that Nigeria’s goal of achieving single-digit inflation in the short term is unrealistic, highlighting that Nigeria remains among a few African countries—alongside Angola, Ethiopia, Ghana, and others—still experiencing double-digit inflation through 2025.
While most African nations are expected to reduce inflation to single digits by 2026, Nigeria’s ongoing structural challenges, such as currency depreciation and supply issues, hinder progress.
Despite government officials’ assurances that recent reforms will lower inflation, the World Bank’s report indicates Nigeria’s inflation rate remains high at around 20.12%, contrasting with regional trends of declining inflation across Sub-Saharan Africa.
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