The Lagos Chamber of Commerce and Industry (LCCI) has observed that inflation and insecurity are some of the major factors affecting seamless supply of food in the country, as the marginal increase in Nigeria’s headline inflation rose to 15.69% in April 2026 from 15.38% in March, according to the latest statistics.
In a statement signed by the Director-General of LCCI, Dr. Chinyere Almona, the increase reflects persistent cost pressures across the economy, the sharp moderation in month-on-month inflation from 4.18% to 2.13% signals a gradual easing in the pace of price increases, and offers cautious optimism for businesses and households. The chamber disclosed that inflation continues to weigh heavily on manufacturers, Micro, Small and Medium Enterprises (MSMEs), traders, and consumers through rising costs of food, transportation, energy, and logistics.
The higher rural inflation rate of 16.36% also highlights ongoing supply chain disruptions, insecurity in food-producing areas, and weak distribution infrastructure. “Although inflation has declined significantly from 26.82% recorded in April 2025, businesses and households are yet to experience meaningful relief, as purchasing power remains weak and operating costs remain elevated. The LCCI, therefore, urges the government to consolidate current macroeconomic reforms by stabilising the foreign exchange market, addressing energy and logistics costs, improving food supply systems, and strengthening support for domestic production and private sector investment”, Almona stated.
The chamber further called for stronger coordination between fiscal and monetary authorities to sustain the moderation in inflation and restore investor and consumer confidence in the economy, and reiterated that durable price stability can only be achieved through productivity-driven reforms, improved infrastructure, enhanced food security, and a more business-friendly operating environment. “We must focus on our local production of urea to drive our food security in the near term”, the Director-General said.
Meanwhile, the 12th Edition of the Information and Communications Technology (ICTEL) EXPO Conference of the chamber, has been scheduled to hold in Lagos, between July 28 and 29, 2026 at the Oriental Hotel, Lekki, Lagos State with the theme: “Africa’s Next Tech Frontier: Building, Securing and Scaling Digital Prosperity”.
The event serves as a hub for innovation, strategic partnerships, and policy conversations aimed at advancing Nigeria’s and Africa’s digital economy. Since its inception, the programme has continued to foster collaboration between the public and private sectors while promoting technology-driven economic development. As one of Africa’s leading technology and innovation platforms, it is designed to convene policymakers, global technology leaders, investors, innovators, regulators, academia, startups, and key industry stakeholders to explore the future of Africa’s digital economy.
According to the President of LCCI, Engr. Leye Kupoluyi, “ICTEL EXPO 2026 comes at a defining moment for Africa’s digital future. As technology continues to reshape economies and societies, the need for collaboration, innovation, digital resilience, and sustainable investment has never been more important. This conference will provide a strategic platform for stakeholders to chart pathways toward inclusive digital prosperity collectively”.
