The Lagos Chamber of Commerce and Industry has called on the Federal Government to sustain and deepen its ongoing macroeconomic reforms as inflationary pressures continue to weigh on businesses and households nationwide.

The chamber noted that manufacturers, Micro, Small and Medium Enterprises, traders, and consumers are still grappling with elevated operating expenses and rising living costs.
Director-General of the chamber, Dr. Chinyere Almona, made the appeal in a statement responding to the latest inflation figures released by the National Bureau of Statistics, which indicated that Nigeria’s headline inflation increased to 15.69 per cent in April 2026, up from 15.38 per cent recorded in March.

Almona observed that while month-on-month inflation eased markedly from 4.18 per cent to 2.13 per cent, the overall rate of price increases continues to pose a serious challenge for businesses and households.

“The chamber observes that inflation continues to weigh heavily on manufacturers, MSMEs, traders and consumers, through rising costs of food, transportation, energy and logistics,” she said.
“The higher rural inflation rate of 16.36% also highlights ongoing supply chain disruptions, insecurity in food-producing areas and weak distribution infrastructure.”

She added that although inflation has fallen significantly from the 26.82 per cent recorded in April 2025, many Nigerians have yet to experience tangible relief, as weak purchasing power and high business costs persist.

The chamber urged the government to stabilise the foreign exchange market and take urgent steps to ease energy and logistics costs. It also emphasised the importance of strengthening food supply systems and boosting domestic production.

Almona said improved policy coordination would be vital to sustaining the slowdown in inflation and restoring investor confidence.

Data from the National Bureau of Statistics showed that Nigeria’s headline inflation rose by 0.31 percentage points on a year-on-year basis in April 2026.

The report indicated that sustained pressures from food prices, energy costs, and supply chain disruptions continued to fuel inflationary trends.

The twelve-month average Consumer Price Index stood at 19.16 per cent, down from 19.33 per cent in April 2025.

Urban inflation was recorded at 15.40 per cent year-on-year, while rural inflation was higher at 16.36 per cent.

Food inflation rose to 16.06 per cent year-on-year, although this was significantly lower than the 24.68 per cent recorded in the corresponding period last year.

Almona said Nigeria needs to pursue productivity-driven reforms and upgrade critical infrastructure to secure long-term price stability.

“The LCCI reiterates that durable price stability can only be achieved through productivity-driven reforms, improved infrastructure, enhanced food security and a more business-friendly operating environment,” she said.

She also emphasised the need to reduce the country’s vulnerability to global commodity price shocks and geopolitical disruptions.