By Olakunle Oke
The Centre for the Promotion of Private Enterprise (CPPE) has expressed concern over Nigeria’s rising inflation, cautioning that the nation’s cost-of-living crisis could intensify unless the government implements urgent corrective measures.
According to a statement issued by the Director/Chief Executive Officer of CPPE, Dr. Muda Yusuf, headline inflation rose to 30.9 per cent in July 2025, compared with 29.7 per cent in June.
The report noted that food inflation continued its steep climb, accelerating from 35.6 per cent in June to 37.2 per cent in July.
The CPPE explained that the surge in food prices has been driven by high transportation costs, persistent insecurity in key food-producing regions, and the ongoing depreciation of the naira. It observed that these factors have made it increasingly difficult for households to cover basic needs.
The organisation also remarked that core inflation registered a slight increase during the same period, underscoring the wider rise in the cost of goods and services outside the food basket. It cautioned that this trend is likely to continue unless there is marked improvement in supply-side conditions.
To address the crisis, the CPPE called on the government to expand interventions aimed at boosting agricultural productivity and tackling insecurity nationwide. It noted that many farmers still face restricted access to farmland due to insecurity and pressed for stronger support to the agricultural sector.
The group also recommended urgent action to stabilise the foreign exchange market, stressing that the continued volatility of the naira has undermined business planning and hampered the importation of critical inputs.
In addition, the CPPE advised that investment in infrastructure, especially in transportation and energy, should be prioritised to strengthen domestic production and ease logistics bottlenecks.
On monetary policy, it suggested a more balanced stance that considers the needs of the real sector, warning that excessive tightening could suppress economic growth.
While acknowledging recent efforts by the authorities, the organisation maintained that tackling inflation demands both immediate and long-term policy actions centred on productivity, supply chain efficiency, and macroeconomic stability.
It concluded by pressing the government to act without delay to prevent further erosion of purchasing power and avert the risk of pushing more Nigerians into poverty.
