Victor EzejaDespite Nigeria’s headline inflation dropping for the third consecutive month, an economic expert has stated that more efforts are needed by the authorities to bring down the general cost of things and ease the burden on citizens.
Dr. Muda Yusuf, Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), has called on the authorities to pay serious attention to activating trade policy instruments to reduce imported input costs in the economy as part of measures to tackle inflationary pressures.
Join our WhatsApp ChannelDr. Yusuf made the call in response to the report released by the National Bureau of Statistics (NBS) on Nigeria’s June inflation.
According to the Consumer Price Index (CPI) report released on Wednesday, the headline inflation dropped to 22.22 percent in June from 22.97 percent in May 2025. However, food inflation rose to 21.97 per cent in June from 21.14 per cent in May. Also, core inflation rose to 22.76 per cent in June from 22.28 per cent in May.
Dr Yusuf observed that even though the headline inflation decreased, there are still concerns because the month-on-month data still shows ongoing pressure on prices.
He highlighted major drivers of inflation in the economy, which include foreign exchange costs, logistics, insecurity, and seasonality of crop production systems.
These challenges, according to him, need urgent policy measures to address them.
He said: “it is curious that despite the stability in the exchange rate, core inflation is still on the upward trend. Greater attention needs to be paid to the activation of trade policy instruments to bring down imported input costs in the economy.
“Tariff policies need to be further recalibrated to ease the cost of critical inputs for the production and service sectors of the economy.”
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
