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Nigeria's Inflation Drops to 24.48%, Economists Remain Concerned

2/24/2025

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Summary

Story summary

Nigeria's inflation rate fell to 24.48% in January 2025, down from 34.80% in December 2024.
Despite the decline, economists worry about the high costs of essential goods.
Ecobank tops Nigerian banks with N16.25 trillion in loans, driving a total loan increase of 46.69% to N66.49 trillion.
Alcoholic beverages and tobacco saw the highest inflation at 14.80%, reflecting ongoing economic struggles.

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Story summary

Nigeria's inflation rate fell to 24.48% in January 2025, down from 34.80% in December 2024.
Despite the decline, economists worry about the high costs of essential goods.
Ecobank tops Nigerian banks with N16.25 trillion in loans, driving a total loan increase of 46.69% to N66.49 trillion.
Alcoholic beverages and tobacco saw the highest inflation at 14.80%, reflecting ongoing economic struggles.