- CPPE forecasts slight inflation moderation in 2025 due to Naira rebound and lower volatility.
- Rising global oil prices under Trump could ease inflation.
- High energy costs, insecurity, and global factors may keep inflation elevated.
In a statement titled Nigeria 2024 Economic Review and 2025 Economic Outlook, CPPE Executive Director Muda Yusuf highlighted that inflation, which stood at 34.60% in November 2024, could moderate due to expected reductions in exchange rate volatility and a potential rebound of the Naira against the dollar.
The think tank also noted that global oil prices may rise under the presidency of Donald Trump in the United States, which could contribute to easing inflation.
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“Inflation may moderate slightly as exchange rate volatility decreases and the Naira possibly strengthens,” CPPE stated.
“Energy costs could also stabilize as geopolitical tensions ease under Trump’s leadership, boosting global oil production and potentially lifting the embargo on Russia. Furthermore, the base effect from 2024’s high inflation will also play a role.”
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However, CPPE cautioned that Nigeria’s inflation may not be fully eliminated in 2025 due to persistent challenges such as high energy costs, exchange rates, transportation costs, and the impact of insecurity on agriculture.
Other factors such as climate change, flooding, and imported inflation from global geopolitical tensions, supply chain disruptions, and trade wars were also cited as potential inflationary pressures.
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