The Lagos Chamber of Commerce and Industry (LCCI) says the marginal decline in Nigeria’s inflation rate provides cautious optimism for businesses and households, even as persistent risks threaten to reverse the fragile progress. Reacting to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS), the Chamber noted that headline inflation moderated slightly to 15.06 per cent in February 2026 from 15.10 per cent in January, and fell sharply from 26.27 per cent in February 2025, indicating a gradual easing of inflationary pressures. LCCI Director General, Chinyere Almona, said the trend offers relief to businesses and consumers struggling with high costs and weakened purchasing power. “From the perspective of the organised private sector, the slight moderation in inflation offers cautious optimism for businesses and households, as high inflation has significantly eroded purchasing power, increased production costs, and weakened consumer demand across several sectors,” Almona said. However, the Chamber warned that inflationary pressures remain persistent. Month-on-month inflation rose to 2.01 per cent in February after contracting in January, signalling ongoing price pressures. Food inflation continues to dominate, reflecting structural inefficiencies in the supply chain, high logistics costs, and production constraints. The LCCI also cautioned that a combination of domestic and global risks could derail recent gains. Rising geopolitical tensions linked to the Iran conflict may trigger volatility in global energy markets, affecting fuel, transportation, and logistics costs. READ ALSO: LCCI Seeks Sustained Reforms, FDI Inflows Into Critical Sectors US Businesses Push for Refunds After Supreme Court …
Economy
The Federal Government has reaffirmed its commitment to tackling Nigeria’s infrastructure challenges through bold, transparent partnerships with the private sector. President Bola Ahmed Tinubu, represented by Vice President Kashim Shettima, made the call while declaring open the 2025 Nigeria Public Private Partnership (PPP) Summit in Abuja. Organised by the Infrastructure Concession Regulatory Commission (ICRC), the …
By Esther Osansanya The Federal Government of Nigeria has called on African nations to harness the collective power of their sovereign wealth funds (SWFs) to drive transformative development, deepen regional integration and accelerate sustainable infrastructure delivery across the continent. Vice President Kashim Shettima made the call at the official opening of the 2025 Africa Sovereign …
By Esther Ososanya The Secretary General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, has called for urgent action to unlock the power of digital trade across the continent. Speaking at a side event during the 32nd Afreximbank Annual Meetings in Abuja, Mene described digital trade as one of the most promising tools …
The Securities and Exchange Commission (SEC) has declared the rising wave of Ponzi schemes in Nigeria a national emergency, warning that the proliferation of unregulated investment platforms is not only wiping out life savings but threatening the country’s economic and social stability. “Ponzi schemes have become a dangerous epidemic,” says Dr Emomotimi Agama, Director-General of …
As Ponzi schemes evolve in Nigeria, many are no longer led by faceless scammers. Instead, they now wear the familiar faces of celebrities, social media influencers, and online content creators. From actors to comedians and even musicians, these public figures are lending legitimacy to illegal investment platforms, often unknowingly, but sometimes for a fee. When …
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