The Centre for the Promotion of Private Enterprise (CPPE) has urged the Federal Government to prioritise stabilising energy costs and expanding access to affordable financing for productive sectors, as Nigeria recorded an easing of inflationary pressures in October 2025.
In a policy brief shared with Nairametrics by its Chief Executive Officer, Dr. Muda Yusuf, the organisation noted that although the latest inflation figures show some improvement, the business environment remains significantly strained by high operating costs—especially energy—and limited access to finance.
According to the CPPE, addressing these structural bottlenecks is essential for sustaining the current moderation in inflation while boosting economic growth and strengthening the resilience of small and medium-sized enterprises (SMEs), farmers, and manufacturers.
The CPPE stressed that stabilising energy costs must be a priority for the government, especially as energy remains one of the biggest drivers of inflation and a major burden on businesses.
CPPE urges the government to “Increase investments in transmission and distribution infrastructure. Promote solar and off-grid renewable energy solutions for SMEs and rural communities. Expand incentives for energy-efficient manufacturing.”
Push for Affordable and Accessible Financing
Beyond energy reforms, the CPPE emphasised the urgent need for affordable financing, noting that the high-interest-rate regime continues to limit business expansion, discourage new investments, and constrain agricultural and industrial output.
To address these challenges, the think tank said there is a need for “Targeted lower-interest financing for SMEs, farmers, and manufacturers. Expand credit guarantee schemes to de-risk private lending. Strengthen development finance institutions to support productive sectors.”
Backstory
The National Bureau of Statistics (NBS) reported that Nigeria’s inflation rate eased to 16.05% in October, a significant decline from the 18.02% recorded in September 2025.
The bureau noted that the year-on-year headline inflation rate stood at 17.82%, lower than the 33.88% recorded in October 2024.
According to the NBS, the food inflation rate in October 2025 stood at 13.12% on a year-on-year basis, representing a 26.04 percentage-point decline from the 39.16% recorded in October 2024.
What you should know
In October, President Bola Tinubu announced that 153,000 Nigerians have so far benefited from N30 billion in affordable loans disbursed under the National Consumer Credit Corporation (Credicorp) scheme.
“Credicorp, another initiative of our administration, has granted 153,000 Nigerians N30 billion affordable loans for vehicles, solar energy, home upgrades, digital devices, and more,” Tinubu said.
He further announced that YouthCred, a complementary credit program targeted at young Nigerians, particularly members of the National Youth Service Corps (NYSC), has become a reality.
In February 2025, Credicorp launched a credit scheme for the purchase of locally assembled vehicles.
