**Nigeria's Inflation Rate Slows Down, Drops to 15.06% in February** In a recent development, Nigeria's inflation rate has shown a slight decline, dropping to 15.06% in February 2026, according to the National Bureau of Statistics' Consumer Price Index (CPI) report. This marks the 11th consecutive month of gradual moderation in inflation rates. The decrease in inflation rate from 15.10% in January is a welcome relief for Nigerians, who have been grappling with the high cost of living. Although the drop might seem minor, it indicates that the general price level is rising at a slower pace compared to the same period last year. However, food prices remain a significant concern, with food inflation rising to 12.12% year-on-year in February, up from 8.89% in January. The surge in food prices can be attributed to seasonal demand pressures linked to Ramadan, which typically triggers increased consumption of staple foods across the country. In Nigeria, where food prices can have a significant impact on household spending, the continued rise in food inflation is a cause for concern. The prices of staple items like beans, tubers, and other essential food commodities have increased significantly, making it challenging for many Nigerians to afford these basic necessities. The marginal decline in inflation rate is a positive sign for the Nigerian economy, but it's essential to monitor the situation closely to determine whether it's a sustained trend or a temporary reprieve. The National Bureau of Statistics will continue to track the inflation rate and provide updates on the country's economic performance. For now, the easing of inflation rate is a step in the right direction, and Nigerians can look forward to a slight reduction in the cost of living. However, it's crucial to address the root causes of food inflation and implement policies that promote food security and affordability to ensure that this trend continues.