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The Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Dr Chinyere Almona, has urged the Central Bank of Nigeria (CBN) to do a reality check on the business environment and align its monetary policy decisions accordingly.

She said the decision must be responsive to the difficult realities of businesses and consumers.
Speaking in Lagos, the DG said that the recalibration of the consumer price index (CPI) methodology by the National Bureau of Statistics (NBS) has resulted in a notable statistical decline in inflation, dropping from 34.8 per cent in December 2024 to 24.48 per cent in January 2025, the reality is that many businesses and households are still grappling with extremely-high costs of goods and services.

She said while the rebasing provides a more updated measure of economic conditions, it does not translate into any relief from inflationary pressure in practical terms.

Hence, she said, concrete measures must be taken to reduce inflationary pressure in real terms, support enterprise development and drive inclusive economic growth.

https://guardian.ng/business-services/business/monetary-policy-must-respond-to-market-realities-not-rebased-inflation/