Inflation is falling, but businesses are still gasping for air

Inflation is falling, but businesses are still gasping for air

By Oluwatobi Ojabello

Inflation is cooling in Nigeria. According to the National Bureau of Statistics, the inflation rate fell for the second straight month down to 22.97 percent in May 2025 from 23.71 percent in April. After months of soaring prices, that’s supposed to be good news.

But for those who actually power the economy; bus