KEY POINTS
- Nigeria’s headline inflation rose to 15.38 percent in March 2026 from 15.06 percent in February, halting a recent disinflation trend
- LCCI DG Chinyere Almona said rising domestic fuel costs, partly driven by geopolitical disruptions in global energy markets, have intensified cost-push pressures across production, logistics and distribution
- LCCI urged the FG to stabilize energy prices, fix food supply chain bottlenecks and improve exchange rate stability
Dr. Chinyere Almona, Director General of the Lagos Chamber of Commerce and Industry, on Thursday warned that Nigeria’s March inflation rise threatens business sustainability. The National Bureau of Statistics reported headline inflation at 15.38 percent in March 2026, up from 15.06 percent in February.
Almona said food inflation, transport costs and rising core inflation drove the uptick, adding that it halts a recent disinflation trend and raises fresh concerns about near-term price stability.
Rising fuel costs intensify cost-push pressure across value chains
She also said rising domestic fuel costs, partly a product of geopolitical disruptions in global energy markets, have intensified cost-push pressures across production, logistics and distribution value chains. “From the perspective of the Organised Private Sector, this inflationary resurgence poses significant risks to business sustainability, consumer purchasing power, and overall economic competitiveness,” she said.
Meanwhile, LCCI urged the Federal Government to stabilize energy prices, improve domestic supply, address structural bottlenecks in food supply chains and ease logistics constraints. The chamber also called for enhanced exchange rate stability and greater access to foreign exchange.
LCCI urges government to address inflation structural drivers
Almona said addressing structural drivers of inflation in energy, food systems, logistics and foreign exchange remains critical to restoring price stability and supporting economic recovery.
“The resurgence of inflationary pressures underscores the need for urgent, targeted, and sustained policy responses,” she said. Furthermore, the chamber said the March inflation rise signals the need for sustained government action to protect industrial competitiveness.