The Lagos Chamber of Commerce and Industry (LCCI) has called on the Nigerian government to stay focused on addressing the structural causes of inflation, despite the slight decline in the nation’s inflation rate.

Reacting to the May 2025 inflation figure of 22.97%, down from 23.71% in April, LCCI Director-General Dr Chinyere Almona described the drop as a modest but positive shift, largely driven by the Central Bank’s monetary tightening measures.

She, however, warned that insecurity, herdsmen-farmers clashes, flooding, and global supply chain disruptions could trigger fresh food inflation later in the year.

Almona urged decisive government action to improve security, support agriculture, enhance food logistics, and sustain oil and gas sector reforms. She also recommended that the CBN maintain prudent policies while improving credit access to productive sectors.

She stressed the need for greater investment in irrigation, mechanisation, and transport infrastructure to secure long-term gains in food production and price stability.