Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Dr Chinyere Almona, has stated that the resurgence of inflation in Nigeria poses significant risks to business sustainability, consumer purchasing power, and overall economic competitiveness.
She stated this in a reaction to the latest inflation figures released by the National Bureau of Statistics (NBS), which shows that inflation rose to 15.38 per cent in March 2026, up from 15.06 per cent in February.
“From the perspective of the organised private sector, this inflationary resurgence poses significant risks to business sustainability, consumer purchasing power, and overall economic competitiveness,” Almona stated.
Aligning itself with the organised private sector, the LCCI cautioned that the inflationary resurgence could worsen economic conditions.
Almona said, “This development effectively halts the recent disinflation trend and raises fresh concerns about the sustainability of near-term price stability.”
The LCCI DG added that the uptick was driven largely by increases in food inflation, transport costs, and core inflation, reflecting renewed underlying price pressures in the economy.
Almona said, “The observed uptick, largely driven by increases in food inflation at 14.31 per cent and transport costs at 16.9 per cent, as well as a rise in core inflation to 16.21 per cent, reflects renewed underlying price pressures within the economy. Of particular concern is the impact of rising domestic fuel costs, partly influenced by geopolitical disruptions in global energy markets, which have intensified cost-push pressures across production, logistics, and distribution value chains.”
The chamber urged the Federal Government to take urgent and coordinated policy actions to address the situation.
