By Nchetachi Chukwuajah
The National Bureau of Statistics (NBS) announced that Nigeria’s headline inflation rate dropped marginally to 15.10 per cent in January, down from 15.15 per cent recorded in December 2025.
According to the latest Consumer Price Index (CPI) report released by the NBS on Monday, February 16, the CPI declined to 127.4 in January from 131.2 in December, representing a 3.8-point decrease.
It also stated that the January headline inflation rate was 0.05 percentage points lower than the rate recorded in December.
On a year-on-year basis, the headline inflation rate stood at 15.10 percent in January 2026, a 12.51 percentage points lower than the 27.61 percent recorded in January 2025.
On a month-on-month basis, the inflation rate stood at -2.88 percent in January, compared to 0.54 percent recorded in December 2025, indicating that average prices declined during the month.
Food inflation recorded one of the sharpest declines in the report. On a year-on-year basis, food inflation slowed to 8.89% in January 2026 from 29.63% in January 2025.
On a month-on-month basis, food prices dropped by -6.02 percent in January, compared to the -0.36 percent recorded in December 2025.
The NBS said the food price reduction was due to reductions in the prices of water yams, eggs, green peas, groundnut oil, soya beans, palm oil, maize, guinea corn, beans, beef, melon, and cassava.
The twelve-month average food inflation rate stood at 20.29 percent, significantly lower than the 38.47 percent recorded in January 2025.
A state-level analysis showed that inflation pressures remain heightened in some states in January 2026, despite a month-on-month moderation across most of the high-cost states.
In this article, Impact Nigeria Newspaper highlights the top 10 states with the highest rate of inflation in January 2026, according to the latest CPI data from the NBS, with Benue State, dubbed “the food basket of the nation,” taking the lead.
10. Niger
The North Central state of Niger had an all-items index of 126.3 in January 2026, with a year-on-year increase in inflation of 16.9 percent.
On a month-on-month basis, inflation declined by 4.2 percent compared to December 2025.
Food inflation increased by 12.2 percent on a year-on-year basis, but dropped by 7.1 percent month-on-month.
The significant month-on-month decline in food inflation suggests that the state’s January inflation reading was driven more by non-food components such as transport and household services.
Niger is a major agricultural state and benefits from crop production and distribution to urban cities like the Federal Capital Territory (FCT), Abuja.
However, rising logistics costs and insecurity along major transport corridors continue to contribute to the heightened rate of broader consumer prices.
9. Oyo
In January 2026, Oyo State recorded an all-items index of 128.0, with year-on-year inflation at 16.9 percent, similar to Niger State, while prices fell by 1.5 percent on a month-on-month basis.
Food inflation saw an 8.9 percent increase year-on-year, but recorded a 3.1 percent decline month-on-month.
The slower pace of annual growth in food relative to all-items points to the possibility that non-food inflation, especially housing and transport in Ibadan and surrounding urban centres, was a contributor to overall price pressures.
8. Anambra
Anambra recorded an all-items index of 129.0, with year-on-year inflation of 17.3 percent. On a month-on-month basis, inflation declined marginally by 0.5 percent.
Food inflation rose 6.8 percent year-on-year and dropped 5.8 percent month-on-month.
The relatively modest annual increase in food inflation compared to the all-items index suggests that non-food components, such as housing and transportation, are responsible for the inflationary pressures in the state.
7. Nasarawa
In January 2026, Nasarawa State recorded an all-items index of 126.4, with annual inflation at 17.3 percent. The state’s inflation rate declined significantly by 5.1 percent.
Food inflation rose 14.0 percent year-on-year but dropped 9.1 percent month-on-month. The sharp annual increase in food prices indicates that food remains a major driver of inflation in the state.
6. Osun
The all-items index stood at 127.2 in Osun State in January 2026, with an 18.1 percent year-on-year increase. On a monthly basis, prices fell by 1.1 percent.
On a year-on-year basis, the state posted an increase in food inflation of 11.0 percent, which fell 5.7 percent month-on-month.
Looking at the gap between food and all-items inflation, it can be deduced that non-food categories contributed significantly to the inflationary pressure in the state.
5. Yobe
Yobe recorded an all-items index of 126.8, with year-on-year inflation at 19.1 percent. Month-on-month, inflation dropped 4.5 percent.
Food inflation increased 10.4 percent year-on-year, but declined sharply by 11.9 percent month-on-month.
4. Adamawa
Adamawa posted an all-items index of 126.6. Its annual inflation stood at 19.2 percent, but fell 2.7 percent month-on-month.
Food inflation increased 17.3 percent year-on-year and fell 3.7 percent month-on-month. The relatively high annual food inflation indicates that food remains a primary inflation driver in the state.
3. FCT, Abuja
In January 2026, the Federal Capital Territory (FCT) recorded an all-items index of 127.6. Annual inflation stood at 19.2 percent and dropped 4.5 percent month-on-month.
On a year-on-year basis, food inflation rose 11.7 percent and fell 7.3 percent month-on-month. The increase in the yearly food inflation rate suggests that non-food inflation, including housing, services, and transport, is a major contributor to the FCT’s high cost profile.
2. Kogi
Kogi, a state in North Central Nigeria, posted an all-items index of 123.8 in January 2026. The state recorded a year-on-year inflation rate of 21.0 percent, which fell 6.0 percent month-on-month.
Food inflation soared 19.8 percent year-on-year and declined 6.8 percent month-on-month. The data, which shows that food and all-items annual inflation are nearly at par, indicates that food is the dominant inflation driver in the state.
1. Benue
Sitting at the top as the state with the highest rate of inflation in January 2026 is Benue, making it the most expensive state among the top 10.
Dubbed ‘The food basket of the nation,’ Benue posted an all-items index of 128.5 in January 2026.
It recorded the highest annual inflation rate at 22.5 percent and a month-on-month inflation decline of 1.9 percent.
Food inflation rose 18.4 percent year-on-year and fell 4.7 percent month-on-month.
The sharp annual rise in food prices suggests that food inflation is the primary driver of overall inflation in the state.
The state has faced persistent farmer-herder conflicts and supply disruptions, which have constrained output and pushed prices upward.
Also, the Consumer Price Index (CPI) report for January showed that states with low food inflation are seeing stronger affordability gains, as food remains the largest component of household spending in Nigeria.
The top 10 states with the lowest rate of inflation in January that reflected relative stability in essential goods and services are:
10. Gombe
First on the list is Gombe State, which ranked 10th among the states with the lowest rate of inflation in January 2026.
The state recorded an overall inflation rate of 13.74 percent, which is still below the national average but represents an increase from the 11.3 percent recorded in December 2025.
It posted a relatively elevated food inflation rate of 8.8 percent, an improvement from the 10.1 percent recorded in December 2025.
The figures show that there is moderate price stability across non-food components such as housing, transportation, and services.
9. Delta
In January 2026, Delta State recorded a headline inflation rate of 13.58 percent, indicating a decline from the 15.6 percent posted in December 2025.
Food inflation fell sharply to 6.6 percent, down from 12.5 percent recorded in December 2025. This suggests relatively stable agricultural supply chains and improved market distribution across the oil-producing state.
8. Ondo
Ondo State, situated in the South Western part of the country, recorded a headline inflation rate of 13.20 percent in January 2026, an increase from the 10.1 percent posted in December 2025.
Food inflation moderated to 5.5 percent, down from the 11.1 percent recorded in December 2025.
7. Ogun
In January 2026, Ogun State recorded a headline inflation rate of 12.86 percent, representing a drop from 18.8 percent in December 2025.
Food inflation stood at 7.9 percent, a decline from 14.1 percent recorded in December. The state’s proximity to Lagos and its strong industrial and commercial base are helping to sustain relative price stability in housing, transportation, and other services.
6. Abia
Abia State recorded one of the lowest food inflation rates in the country at 3.2 percent, a significant drop from 10.2 percent in December.
This moderation in food prices contributed to reducing the state’s overall inflation rate to 11.67 percent from 19 percent recorded in December 2025.
5. Kaduna
In January 2026, Kaduna State recorded a headline inflation rate of 11.41 percent, a slight increase from 10.4 percent in December 2025.
Food inflation eased to 5.1 percent from 11.3 percent, signaling improved food supply conditions. As a major agricultural and commercial hub in northern Nigeria, the state appears to be benefiting from stronger farm output and distribution networks.
4. Enugu
Fourth on the list of states with the lowest rate of inflation in January 2026 is Enugu State. The state recorded an inflation rate of 11.04 percent, down from 17 percent in December 2025.
Food inflation dropped to 5.8 percent from 10.7 percent in December, indicating relatively moderate pressure on essential commodities and improved affordability for residents.
3. Imo
In January 2025, Imo State recorded a headline inflation rate of 10.61 percent, down from 13.8 percent in December, making it the third among the top 10 states with the lowest rate of inflation in the month.
Food inflation fell to 3.7 percent from 8.3 percent over the same period. This showed a relatively mild price growth across both food and non-food categories.
2. Katsina
Katsina State recorded a single-digit headline inflation rate of 8.94 percent, down sharply from 18.7 percent in December 2025, significantly below the national average.
Food inflation also eased to 5.8 percent from 11.2 percent, helping to keep overall consumer prices relatively stable across the state.
1. Ebonyi
Topping the list of the states with the lowest rate of inflation in January 2026 is Ebonyi State, making it the most affordable state in the period under review.
The state recorded the lowest headline inflation rate of 8.72 percent, a sharp drop from the 14.9 percent posted in December 2026.
Food inflation was significantly low at 1.7 percent, down from 9.7 percent. This is due partly to the state’s strong agricultural base, particularly in rice and other staple crops, which has helped shield households from broader price pressures.
