The Central Bank of Nigeria (CBN) has released its 2026 Macroeconomic Outlook, projecting a significant cooling of inflation despite continued pressure on energy prices.
According to the report, headline inflation is forecast to decelerate to 12.94% by the end of 2026, a massive drop from the 21.26% estimated for 2025. The apex bank attributes this “disinflation momentum” to the delayed effects of previous interest rate hikes and improved food supply following agricultural reforms.
However, the report offered a sober reality for consumers at the pump, predicting that petrol prices will likely stabilize around ₦950 per litre due to market liberalization and midstream competition. CBN Governor Olayemi Cardoso noted that while structural constraints remain, the stability of the Naira which saw the foreign reserves hit $45.4 billion in late 2025—will provide the necessary buffer to achieve these targets.
