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Inflation continues downward trajectory for the fifth month

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• Continued sustenance a boost for consumer confidence, says Yusuf

Nigeria’s headline inflation continued its downward trajectory for the fifth consecutive month in August 2025, signalling a steady return to price stability. The inflation rate eased to 20.12 per cent, down from 21.88 per cent in July, representing a notable 1.76 percentage point decline.
Month-on-month inflation also slowed sharply, with prices rising by just 0.74 per cent in August compared with 1.99 per cent in July, signaling one of the lowest sequential increases in over a year.
The key inflation contributors to inflation in August, largely food and alcoholic beverage; restaurants and accommodation services and transport and energy costs, remained largely unchanged.
For instance, food inflation moderated to 21.87 per cent from 22.74 per cent in July, while core inflation (excluding food and energy) declined to 20.33 per cent from 21.33 per cent, indicating broad-based easing in price pressures.
According to the Chief Executive, Centre for the Promotion of Private Enterprise, Dr. Muda Yusuf, this sustained moderation suggests that Nigeria is gradually regaining macroeconomic stability, suggesting that business confidence has improved, as shown by the NESG–Stanbic IBTC Business Confidence Monitor, which has posted six consecutive months of positive readings in 2025.
However, Yusuf noted, consumer confidence remains fragile due to persistently high food prices and weak purchasing power. Encouragingly, he further noted, consumer pessimism is gradually easing, suggesting that households are beginning to adjust expectations as inflation slows.
He explained that several factors underpin the continued deceleration in inflation; notably, base effects from the unusually high inflation rates recorded in 2024; stabilisation of the foreign exchange market, which has reduced imported inflation and improved business confidence, and improved agricultural production from sub-national government interventions, helping boost food supply and contain price spikes
Yusuf, an economist, suggested that to consolidate and build on these gains, a coherent mix of fiscal, monetary, and structural reforms will be critical. These, he explained, will include the need to continue to maintain macroeconomic stability by way of continued stability of the exchange rate and deepening of fiscal consolidation to curb deficits and manage public debt prudently.
Besides, there is the need to address structural bottlenecks through collaboration with state governments to remove productivity constraints and investment in infrastructure, logistics and security to improve output and reduce costs.
The CPPE boss also advocated for the strengthening of policy coordination by moderating money supply growth through tighter monetary-fiscal coordination and aligning fiscal, tax and trade policies to reduce production and operating costs across sectors. Importantly, he added, there is the need to enhance food security through the implementation of targeted interventions such as input subsidies, storage facilities and mechanisation programmes to lower food production costs and ease pressure on household budgets.
“If these measures are sustained, Nigeria could witness a further decline in inflation, a gradual rebound in consumer confidence and stronger foundations for inclusive and sustainable economic growth,” Yusuf assured.

Maritime

NAGAFF president bags MARCON Freight Forwarder of the Year Award

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.Invested as Patron

The National President of the National Association of Government Approved Freight Forwarders (NAGAFF), Chief Tochukwu Emmanuel Ezisi, has been honoured with the Maritime Correspondents’ Organisation of Nigeria (MARCON) Freight Forwarder of the Year Award.

The industry veteran was also formally invested as a Patron of the association in recognition of his outstanding contributions to freight forwarding and the development of Nigeria’s maritime sector.

The double honours were conferred during the 2026 MARCON Annual Conference held at Hotel Presidential on Thursday in Port Harcourt, Rivers State, where industry leaders, government officials and key stakeholders gathered to deliberate on the theme: “Special Economic Zones as Catalysts to Sustainable Blue Economy.”

Speaking during the investiture, the Chairman, Conference Planning Committee, Paul Ogbuokiri, said the decision to confer Patronship on Chief Ezisi was in appreciation of his exemplary leadership, unwavering commitment to the growth of the freight forwarding profession and consistent support for initiatives that promote professionalism and sustainable development within the maritime sector.

Ogbuokiri noted that, as National President of NAGAFF and Managing Director of Emmatoks Agencies Limited, Chief Ezisi has distinguished himself through advocacy for trade facilitation, capacity development and reforms aimed at enhancing efficiency across Nigeria’s ports and logistics value chain.

According to Ogbuokiri, the Freight Forwarder of the Year Award recognises individuals whose leadership, innovation and dedication have made significant impacts on the freight forwarding profession and the nation’s maritime economy.

Ezisi was represented at the event by the National Secretary of NAGAFF, Geoffrey Nwosu, reaffirming his commitment to supporting initiatives that strengthen freight forwarding practice, improved stakeholder collaboration and contributing to the continued growth and competitiveness of Nigeria’s maritime sector.

The conference attracted senior government officials, regulators, port managers, industry operators and maritime professionals who explored strategies for leveraging efficient port infrastructure and Special Economic Zones to drive investment, trade, industrialisation and the country’s blue economy aspirations.

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Maritime

OGFZA positions Free Zones as drivers of Blue Economy, energy exports

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The Oil and Gas Free Zones Authority (OGFZA) has said Nigeria’s Special Economic Zones (SEZs) are emerging as critical drivers of the country’s Blue Economy, with investments in oil and gas free zones strengthening energy exports, maritime logistics, industrialisation and long-term economic growth.

The Authority said its regulated free zones have evolved beyond conventional investment destinations into strategic Energy Economic Zones that are enhancing national energy security, expanding export capacity and positioning Nigeria as a preferred investment destination in West Africa.

Managing Director and Chief Executive Officer of OGFZA, Bamanga Usman Jada, stated this while delivering the keynote address titled, “The Strategic Role of OGFZA in Supporting Nigeria’s Blue Economy and Energy Exports,” at the 2026 Annual Conference of the Maritime Correspondents’ Organisation of Nigeria (MARCON) held in Port Harcourt. The conference was themed, *”Special Economic Zones as Catalysts to Sustainable Blue Economy.”*

Jada, who was represented by the Technical Adviser to the Managing Director on Free Zones Development, Jackson Iniobong, described the Blue Economy as a framework for harnessing Nigeria’s oceans, rivers, ports and coastal resources to drive economic prosperity while safeguarding the environment for future generations.

He said OGFZA’s statutory mandate of regulating and promoting investment in Nigeria’s oil and gas free zones aligns with the Federal Government’s Blue Economy agenda, noting that most of the Authority’s free zones are strategically located along the country’s maritime corridors.

“Over the years, OGFZA has contributed significantly to the development of Nigeria’s Blue Economy through the establishment, regulation and promotion of Special Economic Zones strategically located around our maritime corridors.”

According to him, the free zones have evolved into engines of industrialisation, international trade, marine logistics, offshore support services and export-oriented manufacturing, thereby strengthening Nigeria’s participation in the global maritime economy.

Jada identified the Onne Oil and Gas Free Zone in Rivers State as OGFZA’s flagship zone, noting that it hosts one of Nigeria’s busiest seaports and serves as an operational base for numerous multinational companies involved in maritime and oil and gas operations.

He also highlighted the Bestaf Maritime Industrial Oil and Gas Free Zone in Lagos State, which hosts an indigenous lubricant blending facility with an annual production capacity of 240 million litres, with products exported through Nigeria’s waterways.

The OGFZA boss further cited the Dangote Industries Oil and Gas Free Zone in Lekki, home to the 700,000 barrels-per-day Dangote Refinery, the largest refinery in Africa, as a major indigenous investment that has significantly strengthened Nigeria’s energy export profile.

“These developments have expanded the significance of OGFZA-regulated free zones into becoming Energy Economic Zones that are enhancing national energy security, industrialisation, and maritime logistics infrastructure and safety.”

Jada said the Authority also regulates the Secured Bunkering Anchorage, an offshore facility supporting safe maritime operations and energy exports, while its free zones have attracted substantial domestic and foreign investments, generated thousands of jobs and facilitated technology transfer.

He explained that OGFZA’s One-Stop-Shop model has improved collaboration with key maritime agencies by simplifying licensing processes, streamlining Customs procedures and enhancing the ease of doing business for investors.

The regulatory framework, Jada noted, has improved port efficiency, reduced operational bottlenecks and promoted indigenous capacity development in fabrication, engineering, marine support services, vessel maintenance and logistics, with facilities such as the West Atlantic Shipyard contributing significantly to local content development.

Looking ahead, he said the Authority would continue to promote environmentally responsible industrial operations, cleaner technologies and efficient resource utilisation to ensure that Nigeria’s Special Economic Zones become models of sustainability, innovation and resilience.

He reaffirmed OGFZA’s commitment to supporting the Federal Government’s vision of leveraging the country’s vast maritime assets to diversify the economy, attract quality investments, create employment opportunities and build a prosperous and sustainable future.

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Property & Environment

Fed govt partners Dangote cement to bridge housing deficit

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By Temitayo Lucas

The Federal Government has reaffirmed its partnership with Dangote Cement Plc and other industry stakeholders to drive affordable and inclusive housing, aligning with broader initiatives aimed at improving access to decent homes for low-income and informal-sector workers.

This initiative is seen as part of the efforts to bridge Nigeria’s housing deficit, even as stakeholders at the 2026 Abuja International Housing Show (AIHS) praised Dangote Cement for its significant contribution to affordable housing and infrastructure development in Nigeria. They described the firm as a key partner in efforts to bridge the nation’s housing deficit and improve access to quality building materials.

The industry leaders, policymakers, and housing experts specifically commended the President of Dangote Industries Limited (DIL), Aliko Dangote, for his commitment to Africa’s industrialisation and economic transformation, noting that his investments continue to drive sustainable growth across the continent.

At the Dangote Pavillion, the Minister of Housing and Urban Development, Dr. Muttaka Rabe Darma, reaffirmed the Federal Government’s commitment to working with the company to address Nigeria’s housing challenges.
He said the exhibition’s theme: “Housing Solutions for Low-Income and Informal Workers in Africa,” aligned with government efforts to expand access to affordable and inclusive housing.

Also, the founder and Chief Executive Officer of AIHS, Festus Adebayo, described Dangote Cement as a dependable partner whose consistent support has contributed to the growth and success of the annual housing exhibition. He noted that DIL is a principal sponsor of the event’s 20th edition, while Dangote Cement is showcasing innovative products and solutions designed to support housing development.

Dangote Cement’s Regional Sales Director for North Central, Bankole George, who represented the national Sales Director, Dolapo Alli, said housing remains critical to dignity, social stability, economic productivity and inclusive development.

He identified major barriers to affordable housing as high land costs, expensive building materials, limited access to mortgage financing, weak rental systems and planning regulations.
George advocated innovative housing finance models tailored to low-income earners and informal workers, including micro-mortgages, rent-to-own schemes, cooperative savings programmes, employer-assisted housing and incremental housing loans.

The call for stronger collaboration was echoed by former Speaker of the House of Representatives, Aminu Tambuwal, who urged African lawmakers to champion housing reforms, while former Senate President, Sen. Anyim Pius Anyim, called for innovative financing solutions to help close the continent’s housing gap.

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