Broadband penetration rose to 58.22% in August 2026 from 48.81% a year earlier, the highest in the regulator's monthly series, as broadband subscriptions reached 126.2 million. Data consumption grew 52.4% year on year to 1.76 million terabytes, a sign that Nigerians are using their connections more, not only adding lines.
Consumer prices rose 15.39% in the year to August 2026, the National Bureau of Statistics reported, little changed from 15.43% in July. The steadiness hides a reversal: food inflation has climbed from 8.89% in January to 19.57%, while core inflation, which excludes farm produce and energy, has eased to 13.29%.
The Monetary Policy Committee lowered the Monetary Policy Rate to 23% from 26.5% at its 307th meeting on 22 September 2026 and left the cash reserve requirements unchanged. With headline inflation at 15.39% in August, the cut narrows the gap between the policy rate and inflation to 7.61 percentage points and marks a clear step up in the pace of easing.