Nigeria’s Minister of Information, Lai Mohammed Idris, has revealed that the country’s inflation rate has dropped by half since 2023. He attributed the improvement to government policies aimed at stabilizing prices and supporting local production.
The minister noted that while challenges remain, efforts to boost agricultural output, regulate essential commodities, and strengthen fiscal measures have contributed to the decline. He expressed optimism that the downward trend will continue in the coming months.
Idris urged Nigerians to remain patient as the government implements additional economic reforms to further reduce inflation and improve living standards across the country. He also highlighted ongoing collaborations with the Central Bank and other economic agencies to sustain price stability.
The announcement has been welcomed by citizens and analysts, who see it as a positive signal for the economy and a boost to consumer confidence ahead of the 2027 general elections.
