The Centre for the Promotion of Private Enterprise (CPPE) has warned that Nigerians are still groaning under rising food prices, despite the country recording its fourth straight month of declining headline inflation.
Latest data from the National Bureau of Statistics showed inflation fell slightly from 22.22 percent in June to 21.88 percent in July 2025. But in a statement on Sunday, CPPE Director Muda Yusuf said the reality on the streets paints a harsher picture.
“While the decline points to stabilisation in the macroeconomic environment—thanks to exchange rate stability and better investor confidence—pressures remain very high on food and daily living costs,” Yusuf explained.
The think tank urged government to adopt a stronger mix of monetary, fiscal, and structural policies, warning that conventional tightening such as high interest rates (27.5%) and cash reserve ratios will not be enough.
“The July inflation report gives cautious optimism. But the persistence of food and month-to-month price increases shows deep structural weaknesses. We need coordinated interventions to sustain stability,” CPPE said.
For millions of Nigerians, however, such assurances feel distant as food stalls and markets continue to post skyrocketing prices.
