The National Bureau of Statistics on Tuesday released the Consumer Price Index which measures inflation rate with the index dropping from 18.72 per cent in January to 17.78 per cent in February.
The drop in the inflation rate by 0.94 percentage points according to the NBS report is the first time in 15 months that the country would see a reduction in inflation rate.
The report said the drop was attributed to slow increase recorded in food prices and other divisions.
This announcement is coming four days after President Muhammadu Buhari return from a 50-day medical vacation in United Kingdom.
