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← All toolsWhat would that money buy today?
Nigeria's official headline inflation was 15.39% in August 2026, according to the National Bureau of Statistics. Enter an amount, a year, and the rate you want to assume. The official yearly rates since 2015 are listed below the calculator.
No. 7Inflation, your own assumption
What would that money buy today?
This one runs on a rate you set yourself. Enter an amount, a past year, and the average yearly inflation you want to assume. It answers a what-if, and it does not read any live data.
A reader-set assumption, not official data. The official yearly rates are listed below, so you can set the slider to match a real year.
Nigeria's official inflation, year by year
Average yearly consumer price inflation for Nigeria, from the World Bank series built on National Bureau of Statistics data. Accessed 5 Oct 2026.
| Year | Average inflation |
|---|---|
| 2015 | 9.0% |
| 2016 | 15.7% |
| 2017 | 16.5% |
| 2018 | 12.1% |
| 2019 | 11.4% |
| 2020 | 13.2% |
| 2021 | 17.0% |
| 2022 | 18.8% |
| 2023 | 24.7% |
| 2024 | 33.2% |
| 2025 | 23.0% |
The latest monthly reading: headline inflation was 15.39% year on year in August 2026, food inflation 19.57% and core inflation 13.29% (NBS, released 15 Sep 2026). The NBS rebased its price index in January 2025, so years before and after the rebasing are not directly comparable.
A worked example
Compounding the yearly averages above, about ₦322,000 at the end of 2025 buys what ₦100,000 bought at the start of 2020. From the start of 2015, the figure is about ₦590,000. These are approximations from yearly averages, not an official index calculation. Example calculated 5 October 2026.
Questions about naira inflation
What is Nigeria's inflation rate now?
The National Bureau of Statistics put headline inflation at 15.39% year on year in August 2026, down from 23.14% a year earlier. Food inflation was 19.57% and core inflation 13.29%. The report was released on 15 Sep 2026. A new figure comes out each month, so check the NBS for anything newer.
How much does 100,000 naira from 2020 need to be today?
Compounding the World Bank's yearly averages for 2020 to 2025 gives about 322,000 naira at the end of 2025 to buy what 100,000 naira bought at the start of 2020. Starting from 2015, the figure is about 590,000 naira. These are approximations built from yearly averages, not an official index calculation.
How does inflation affect my naira savings?
Inflation is the rise in the general price level. If your savings earn less than the inflation rate, the naira balance can grow while what it buys shrinks. Compare the return after any fees and tax with the latest inflation figure to see whether your buying power is rising or falling.
Why did Nigeria's inflation fall from 34.80% to 24.48% in early 2025?
The NBS rebased the consumer price index in January 2025, moving the base year from 2009 to 2024 and updating the basket. December 2024 read 34.80% on the old basis and January 2025 read 24.48% on the new one. The Statistician-General said the change did not mean prices had come down. Figures either side of the rebasing are not directly comparable.
Does this calculator use official data?
No. The calculator runs on the yearly rate you set. The official yearly averages and the latest NBS figure are listed on this page so you can set the slider to match a real year, or test a higher or lower rate.
Sources: World Bank, Inflation, consumer prices (annual %), Nigeria; National Bureau of Statistics, Consumer Price Index and Inflation. Accessed 5 Oct 2026.