Nigerians have expressed mixed reactions following the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS), which shows that the country’s inflation rate eased slightly to 21.88% in July 2025, down from 22.22% in June.
While the decline has been welcomed by some policymakers and economic observers as a sign of gradual progress in stabilizing the economy, many citizens remain skeptical about whether the improvement on paper truly reflects realities in the marketplace.
On social media platform X (formerly Twitter), several Nigerians voiced frustration over the disparity between statistical reports and their lived experiences in a series of reactions monitored by Nairametrics on Saturday, August 16, 2025.
A user, I believe (@ainamo94) wrote on X (formerly Twitter) “The number of financial requests I am getting from people in my circle is increasing day by day, and you are telling me inflation is easing when more Nigerians are plunged into poverty every day. You are economical with your figures, is not a true reflection of reality.”
Another user, Burgerman ㅣArichain (@snezcoman) wrote “Nobody trusts whatever numbers you throw out”
Similarly, Nnachi (@Godswillluv) said, “You keep faking data for Bola Tinubu and APC. You rest when you get tired of deceiving yourselves. We’re in the streets, inflation is still as high as when this disastrous, catastrophic presidency came to power and took off fuel subsidy without appropriate plans and know-how.”
Others expressed similar sentiments:
EDO NATION (@CHRISOBOH666) said, “Stop deceiving yourself, you guys continue giving Nigerians wrong figures and information when people can’t even feed.”
darth tenebrous#1 (@anyabebop) said “Rubbish! Get this Nonsense out of my face! A bunch of illiterates in the NBS and Central Bank! Banal illiterates are so cursed and can’t manage shit!”
AKS WatchDog (@AksWatchdog) said, “Data speaks a thousand words. So you changed the base year to bring the inflation numbers down, meaning that if you still used 2009 as the base year, the numbers may still be around 30% or so. Got it. Any explanation as to why you changed the base year?”
VICTOR AZUBUIKE (@v_ogbunugafor) “The average Nigerian does not understand these figures. Purchasing power has decreased to the barest minimum due to the high cost of goods and services. That is the reality on the ground, as President @officialABAT once asked: ‘ na statistics we go chop’?”
Some Nigerians expressed hope in the figures.
Akereyejo (@Palermo_seun) said, “We are on the right path and soon we’ll start to feel it. We are at a point where we can be optimistic, unlike before when everything was so uncertain.”
Another user, Osas (@osazenoo) wrote, “January 2025 headline inflation rate was at 24.48%. It’s eased to 21.88% in July. We expect further decline as we enter the harvest season. The goal is 15%. Most likely won’t be achieved, but a gradual decline is a good outlook for the Nation.”
Experts speak
Also, in separate interviews with Nairametrics, economists share their views too:
Dr. Ango Malari, an economic analyst at the Society for Peacebuilding and Economic Advancement, said, “While I agree that inflation may be decelerating, the food inflation rate at 22.74% is still a bit too high for the majority of Nigerians. A lot of Nigerians still find some of the most staple foods a luxury these days. This is where I think the numbers should go down fast.”
Sam Maiyaki, an economic analyst, said, “Inflation may be down largely due to the government’s disinflation measures, but the key question is whether this translates into real improvements in living standards. I am yet to see that as I speak to you. People are still suffering.”
Current trajectory is inspiring – Presidential spokesperson
In his reaction, Special Adviser to the President on Media and Public Communication, Sunday Dare, described the current inflation trajectory as inspiring.
He wrote on X (formerly Twitter), “The NBS announced the reduction in its consumer price index (CPI) report, released today, Friday. In the 2025 Budget presented to the National Assembly, President Tinubu promised to ease inflation to as low as 15 per cent. The current trajectory is inspiring.”
Similarly, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, wrote on X, “NBS reports a drop in the inflationary rate for the fourth successive month. This good news will certainly not gladden the hearts of the opposition coalition of haters and power-hungry people who always crave negative news about our country.”
Back story
On Friday, August 15, the NBS reports that Nigeria’s headline inflation rate slowed slightly to 21.88% in July 2025, marking a modest retreat from the previous month’s figure of 22.22%.
The data shows that, on a year-on-year basis, the headline inflation rate was 11.52% lower than the rate recorded in July 2024, which was at 33.40%.
On a month-on-month basis, the headline inflation rate in July 2025 was 1.99%, which was 0.31% higher than the rate recorded in June 2025, which was 1.68%.
The NBS said the food inflation rate in July 2025 was 22.74% on a year-on-year basis.
What this means
While the NBS figures suggest progress in Nigeria’s fight against inflation, the lived experiences of citizens tell a more complicated story.
The high cost of food and essential goods remains a pressing concern, and skepticism persists over whether official statistics capture the true scale of hardship on the streets.
Let them keep dropping lower inflation numbers. Normally this should translate to lower interest rates. Until that starts happening, I will read the market believe NBS is cooking numbers.