LCCI Alerts: Insecurity and Global Tensions May Drive Food Prices Up
The Lagos Chamber of Commerce and Industry has called on Nigeria to sustain efforts against inflation drivers. The call was made on Tuesday by the Director-General, LCCI, Dr. Chinyere Almona in Lagos, while responding to the May inflation figure of 22.97 percent. According to the National Bureau of Statistics, Nigeria’s headline inflation rate fell to 22.97 percent in May, down from 23.71 percent in April. The Director-General noted that this development marks a positive shift in the country’s inflation track after several months of persistent increases. She attributed the marginal decline to consistent monetary tightening by the Central Bank of Nigeria (CBN), including interest rate adjustments and liquidity control measures.

