Transport Costs Drive Inflation to 15.38% as Fares, Logistics Expenses Surge – NBS

Nigeria’s inflation rate rose to 15.38% in March 2026, with increasing transport fares and logistics costs emerging as key drivers of rising living expenses, according to data released by the National Bureau of Statistics (NBS).

The latest figure represents an increase from 15.06% recorded in February, indicating a renewed uptick in overall price pressures after a brief period of relative stability.

The NBS report showed that transport-related expenses contributed significantly to the inflation basket, alongside food and accommodation services, as higher fuel costs, haulage charges, and inter-state transport fares continued to push up prices across the country.

On a monthly basis, inflation accelerated sharply to 4.18% in March from 2.01% in February, reflecting faster increases in transport fares and other essential services within a single month.

Urban commuters were particularly affected, as rising transportation costs compounded the impact of higher food prices. Rural areas also recorded stronger inflationary pressure, driven partly by increased costs of moving agricultural goods from farms to urban markets.

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The report further indicated that transport inflation remained one of the major contributors to household spending pressure, as operators in road, aviation, and logistics sectors adjusted prices in response to energy costs and supply chain challenges.

Analysts note that persistent increases in transport costs are feeding into broader inflationary trends, especially in food distribution, retail pricing, and intercity trade, where logistics expenses are a major component.
Meanwhile, the NBS warned that inflationary pressures could remain elevated if transport and energy costs continue to rise, given their strong influence on market prices across Nigeria’s economy.