Market News

The Lagos Chamber of Commerce and Industry (LCCI) has said that the uptick in inflation in the month of March poses significant risks to business sustainability.

This is coming at the backdrop of the latest headline inflation figure which shows a rise to 15.38% in March 2026, up from 15.06% in February as reported by the National Bureau of Statistics (NBS).

In a statement yesterday, Director General of LCCI, Dr Chinyere Almona, noted that the uptick is largely driven by increases in food inflation and transport costs, as well as a rise in core inflation, adding that it reflects renewed underlying price pressures within the economy.

She added that the development effectively halts the recent disinflation trend and raises fresh concerns about the sustainability of near-term price stability.

She further stated: “Of particular concern is the impact of rising domestic fuel costs – partly influenced by geopolitical disruptions in global energy markets – which 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.

“In light of these developments, the LCCI urges the Federal Government to take the following urgent and coordinated policy actions: stabilize energy prices and improve domestic supply; address structural bottlenecks in food supply chains; ease logistics and transportation constraints; enhance exchange rate stability and access to foreign exchange; and support local production and industrial competitiveness.

“The resurgence of inflationary pressures underscores the need for urgent, targeted, and sustained policy responses. Addressing the structural drivers of inflation, particularly in energy, food systems, logistics, and foreign exchange, will be critical to restoring price stability and supporting economic recovery.”