High cost of energy, transportation and interest rates have been identified as the core driver of inflationary pressures despite the recent decline in the inflation rate.
According to the National Bureau of Statistics, (NBS) Nigeria's inflation declined to 15.15 percent in December 2025, extending the disinflation trend recorded over the past 12 months triggered by fall of food prices.
Despite the decline of inflation, members of the organised private sectors have decried the existence of structural gaps constraining the sustainability of businesses.
In a statement, Dr. Muda Yusuf, Chief Executive Office, Centre for the Promotion of Private Enterprise (CPPE), highlighted the rising transportation and logistics expenses, insecurity affecting agricultural output, high interest rates and cost of credit and import duties on key production inputs as the clogs to the ease of business.
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"Food, housing, utilities, fuel, and transportation remain the dominant contributors to inflation, reflecting the sectors where Nigerians spend the bulk of their income," he said.
He stressed that sustaining the inflation decline requires closer alignment between fiscal and monetary authorities.
"Structural interventions must complement monetary tightening to reduce inflation without weakening production," he said.
He raised concerns over the credibility of the methodology for computing the Consumer Price Index (CPI), identifying gaps.
"The decline in inflation suggests that macroeconomic stabilization efforts are beginning to take effect. However, adjustments to CPI computation parameters have created credibility gaps, undermining the confidence of investors, analysts, businesses, and policymakers," he said.
Also, Dr. Chinyere Almona, Director General, Lagos Chamber of Commerce and Industry (LCCI), in a statement urged the federal and sub-national government to strengthen agricultural supply chains and market interventions to ensure steady availability of key staples, reducing food price volatility that drives headline inflation for price stability.
She stressed the need for implementation of prudent fiscal discipline alongside monetary support for productive sectors and enabling the Central Bank to sustainably ease lending rates without stoking inflation.
"Enhance export competitiveness, improve foreign exchange inflows, and stabilize external reserves through targeted support for non-oil exports and remittances for the appreciation of the Naira.
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"Streamline regulatory processes, improve infrastructure reliability, and reduce bureaucratic bottlenecks to make production, logistics, and trade more efficient and cost-effective, which lowers the cost of doing business," she said.
