Nigeria’s power inflation price greater than doubled on a year-on-year foundation to ten.85% in September 2026, emerging sharply from 4.69% in August as power value pressures intensified around the nation.
The Nationwide Bureau of Statistics (NBS) disclosed this in its September 2026 Client Value Index (CPI) file, launched on Thursday, October 15, 2026, which confirmed a vital acceleration in the yearly price of build up in power costs.
The pointy upward push in power inflation got here regardless of a moderation in Nigeria’s general inflation price, which eased to 14.63% in September from 15.39% in August, highlighting the divergence between power prices and broader client value actions.
Power inflation surges 131.34% in September
In line with the NBS, power inflation greater via 6.16 share issues between August and September, representing a 131.34% surge in the yearly price inside of one month.
- On a month-on-month foundation, power inflation rose to five.38% in September, reversing the 0.36% decline recorded in August. This means a renewed build up in power costs following the marginal relief seen within the previous month.
An research via Nairametrics of the NBS per thirty days CPI reviews displays that power inflation has skilled substantial volatility during 2026, with sessions of sharp will increase adopted via important declines.
- The 12 months started with power inflation at 11.17% in January sooner than accelerating to twelve.90% in February, its best possible stage within the first 9 months of 2026.
- The velocity therefore moderated to 9.90% in March and declined additional to 4.60% in April, sooner than getting better relatively to five.73% in Might.
- Power inflation climbed once more to 9.90% in June however fell to 4.40% in July, its lowest studying all through the duration.
- August recorded a marginal build up to 4.69%, sooner than the velocity greater than doubled to ten.85% in September, marking the sharpest per thirty days acceleration in the yearly inflation price to this point this 12 months.
The most recent figures display that September recorded the third-highest annual power inflation price within the first 9 months of 2026, in the back of February and January.
In addition they point out that the renewed power on power costs has interrupted the moderately low inflation readings recorded in July and August.
Petrol costs upward push amid Center East war
The renewed acceleration in power inflation comes amid sustained will increase in home gas costs following the outbreak of the battle involving Iran, Israel and the USA, which has disrupted world oil markets and pushed up crude oil costs.
- Ahead of the Center East war started, petrol offered for about N830 in keeping with litre in Nigeria. On the other hand, costs have since climbed above N1,400 in keeping with litre in numerous portions of the rustic.
- In September, Nairametrics reported that filling stations in Lagos offered petrol for between N1,400 and N1,430 in keeping with litre, whilst costs in Abuja ranged from N1,400 to N1,450 in keeping with litre.
- The rise represents a upward push of roughly 69% to 75% from the pre-war value of N830 in keeping with litre, including power to transportation prices and family spending.
The affect of emerging power prices may be mirrored within the Central Financial institution of Nigeria’s (CBN) July 2026 Inflation Expectancies Survey, which known power expenditure as a significant fear for companies and families.
In line with the survey, 60.9% of companies reported upper spending because of inflation, when put next with 55.9% of families.
Power-related bills, together with petrol, diesel and electrical energy, ranked best possible a number of the components influencing inflation perceptions, scoring 74.1 points among businesses and 61.9 points among households.
The findings underscore the numerous burden of power prices on Nigerians, in particular as upper gas and electrical energy bills have an effect on industry operations, transportation and family budget.
FG introduces 30-day petrol bargain
The Federal Govt has not too long ago presented measures geared toward decreasing petrol prices and easing the power of prime gas costs on shoppers, in particular public delivery operators.
On the other hand, the association has attracted considerations from unbiased oil entrepreneurs, who argue that restricting the cut price to NNPC shops may just limit its advantages, in particular in communities with restricted get right of entry to to the corporate’s retail stations.
Representatives of the Impartial Petroleum Entrepreneurs Affiliation of Nigeria (IPMAN) have in consequence prompt the federal government to increase the programme from 30 to 60 days and accommodate independent marketers to improve nationwide distribution.