Bagudu projects inflation to fall to 14.21% by 2026

Atiku Bagudu, minister of budget and economic planning, says Nigeria’s inflation rate is expected to ease to 15.75 percent in 2025 and further to 14.21 percent in 2026.

Bagudu spoke on Monday at the 31st Nigerian Economic Summit (NES) organised by the Nigerian Economic Summit Group (NESG) in Abuja.

The minister said inflation could drop further to 10.04 percent by 2027, depending on a consistent monetary policy focused on price stability and fiscal discipline.

“Inflation will further moderate to 10.04 percent in 2027, contingent upon a consistent monetary policy focused on price stability and complementary fiscal consolidation.

“Our policy direction will continue to support a market-driven exchange rate regime, fiscal sustainability, and address the underlying structural challenges,” he said.

Bagudu explained that ongoing reforms and policy initiatives of the federal government are aimed at strengthening structural weaknesses, boosting productivity, and positioning Nigeria for long-term prosperity.

He reaffirmed the administration’s commitment to sustainable and inclusive growth, macroeconomic stability, and improved welfare for Nigerians.

“While we recognise the short-term hardships on our people, we are confident that our policies will yield tangible benefits over time.

“The stabilisation of the exchange rate, declining inflationary pressures, and improvements in fiscal management are already setting the stage for a more resilient and diversified economy,” he said.

The minister said government priorities include job creation, poverty reduction, non-oil revenue growth, and strengthening Nigeria’s external financial position.

“We are taking development to the grassroots via the Renewed Hope Ward Development Programme,” Bagudu added.

He called on the private sector, development partners, and Nigerians to support the federal government’s economic transformation efforts, stressing the need for collective commitment, innovation, and perseverance to build an inclusive and competitive economy.

Olaniyi Yusuf, chairman of NESG, urged the government to consolidate ongoing reforms and accelerate policies that promote inclusive growth.