Nigeria’s inflation rate rose for the second consecutive month in April, driven largely by higher food and fuel prices linked to growing tensions in the Middle East.

Data released by the National Bureau of Statistics on Friday showed that headline consumer inflation increased to 15.69 per cent year-on-year in April, up from 15.38 per cent recorded in March.

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The latest figures mark a reversal in the country’s recent disinflation trend after inflation had eased steadily for 11 consecutive months, raising hopes that price pressures in Africa’s largest economy were beginning to stabilize.

Economists say the renewed increase reflects the impact of rising global energy costs following the escalating conflict involving the United States, Israel, and Iran. The tensions have disrupted oil market sentiment internationally and contributed to higher domestic fuel prices in Nigeria, despite the country being one of Africa’s leading crude oil producers.

Food prices, which remain the biggest contributor to Nigeria’s inflation basket, recorded a sharper increase during the month. According to the statistics agency, food inflation climbed to 16.06 per cent in April from 14.31 per cent in March, intensifying pressure on household incomes already strained by high living costs.

The increase in food inflation has been linked to higher transportation costs, supply chain disruptions, and rising prices of staple commodities across several parts of the country. Analysts warn that continued increases in energy prices could further worsen inflationary pressures in the coming months.

Nigeria has faced persistent inflation challenges since the removal of fuel subsidies and exchange rate reforms introduced by the administration of Bola Ahmed Tinubu. While authorities argue the reforms are necessary to stabilize the economy and attract investment, many households continue to struggle with rising prices.

The Central Bank of Nigeria is expected to closely monitor the latest inflation figures as policymakers weigh the possibility of maintaining tight monetary measures aimed at slowing price growth and stabilizing the naira.

Despite the recent uptick, some analysts believe inflation remains significantly below the peak levels recorded in previous years. However, they caution that external shocks, particularly from global energy markets and geopolitical tensions, could complicate Nigeria’s efforts to sustain economic recovery.

Investors and businesses are also watching inflation trends closely, as higher prices affect consumer spending, borrowing costs, and overall economic confidence in one of Africa’s largest consumer markets.