FMDA forecasts 16.42% April inflation rate amid fuel, food prices surge

The Financial Market Dealers Association (FMDA) projects Nigeria's inflation rate to rise to 16.42% in April 2026 due to increasing food and energy prices. This figure marks an increase from 15.38% recorded in March 2026. Average fuel prices rose to N1,322.50 in April, while the domestic food price index climbed to 3.69 points, with notable increases in staples like yam and watermelon.