Nigeria Has The Highest Inflation Rate In West Africa In 2026

Nigeria’s inflation rate stands at 15.06 percent as of February 2026, the highest in West Africa and nearly double that of the next highest country.

According to data compiled from Trading Economics and shared by Statisense, Nigeria tops the regional list, followed by Sierra Leone at 8.05 percent, Gambia at 6.28 percent, Guinea at 4.4 percent, and Ghana at 3.2 percent. Other countries like Liberia, Burkina Faso, Senegal, Cape Verde, and Mali recorded rates below 3.1 percent, with some as low as 0.6 percent.

NaijaChoice News reports that this positions Nigeria as a clear outlier in the sub-region, even as the country records its 11th consecutive month of year-on-year disinflation. The February figure marked a marginal drop from 15.10 percent in January, the lowest headline rate since November 2020.

The National Bureau of Statistics (NBS) attributed the slight easing to moderation in core inflation, which fell to 15.88 percent. However, food inflation rose to 12.12 percent on a year-on-year basis, driven by factors such as post-harvest supply constraints, increased demand during the fasting period, and lingering security challenges in farming areas.

Economists note that Nigeria’s persistently higher rate compared to peers reflects structural issues. These include the effects of past subsidy removal, naira devaluation, and supply-side shocks that hit food and transport costs harder than in more stable West African economies.

The World Bank has acknowledged Nigeria’s economic resilience and projected growth for 2026, but warned that external pressures, including rising global fuel costs linked to Middle East tensions, could push inflation higher and slow poverty reduction efforts.

For ordinary Nigerians, the double-digit rate continues to bite. Households in states like Kogi, Benue, and Adamawa face even steeper pressures, with some recording food inflation above 20 percent. Market women and salary earners alike complain that while the pace of price increases has slowed, the cost of basic items like garri, rice, and bread remains elevated.

The Central Bank of Nigeria has maintained tight monetary policy while signalling possible further adjustments. Analysts expect the disinflation trend to continue into the year, with some forecasts pointing to an average around 13 percent by year-end if naira stability holds and agricultural output improves.

Regional comparisons highlight the uneven recovery across West Africa. While countries like Ghana and Senegal benefit from relatively stable currencies and lower import dependence in key areas, Nigeria’s large population and heavy reliance on domestic food production amplify the impact of local disruptions.