Tinubu’s reforms helped Nigeria beat 2025 inflation target – Presidency

President Bola Tinubu...CREDIT: Presidency

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The Presidency on Monday said President Bola Tinubu’s economic reforms have helped Nigeria beat its inflation target for 2025.

According to the latest Consumer Price Index report released by the National Bureau of Statistics, Nigeria’s headline inflation dropped to 14.45 per cent in November 2025.

This marks the eighth consecutive month of decline, signalling a potential turnaround in the nation’s economic fortunes amid ongoing reforms.

In a statement posted on X, the Special Adviser to the President on Policy Communication, Daniel Bwala, said Tinubu had set a 15 per cent inflation target in January, a goal he said many critics doubted at the time.

According to Bwala, the latest figure represents a decline from 16.05 per cent recorded in October, describing the development as evidence of the impact of what he called “tough, radical reforms and disciplined economic management.”

“In January, President Bola Ahmed Tinubu set a 15% inflation target. Many doubted it.

“Today, the facts have answered them. Headline inflation eased to 14.45% in November 2025, beating the target and dropping from 16.05% in October.

“This is not luck. It is the outcome of tough, radical reforms and disciplined economic management,” the presidential aide wrote.

Bwala maintained that the improvement showed the country was “steadily turning the corner,” insisting that the President’s economic promises were being fulfilled.

“Promise made, promise being fulfilled every step of the way,” he added.

The NBS said the CPI rose to 130.5 points in November 2025 from 128.9 points in October, reflecting a 1.6-point month-on-month increase, while the headline inflation rate declined to 14.45 per cent year on year, compared with 16.05 per cent recorded in October 2025.

On a year-on-year basis, the November 2025 rate is 20.15 percentage points lower than the 34.60 per cent recorded in November 2024.

Month on month, headline inflation rose slightly to 1.22 per cent, up from 0.93 per cent in October, while food inflation increased to 1.13 per cent from a negative 0.37 per cent the previous month.

PUNCH Online recalls that Tinubu had outlined the 15 per cent inflation goal during his presentation of the 2025 budget and reiterated it in his New Year’s address.

He framed it as part of broader efforts to restore economic stability after inheriting an inflation rate of over 22 per cent in May 2023.

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