Business
Nigeria’s inflation rises to 34.80% in December

Nigeria’s inflation rate surged to 34.80 percent in December 2024 from 34.60 percent in November.
This is according to the latest Consumer Price Index and inflation data released on Wednesday by the National Bureau of Statistics, NBS.
While the country’s inflation continues to rise, the Centre for the Promotion of Private Enterprise, CPPE, has identified tips for its moderation.
The December inflation data showed that the country’s inflation further rose marginally by 0.20 percent due to heightened demand for goods and services during the festive season.
On a year-on-year basis, the December inflation rate marked a significant increase of 5.87 percentage points compared to 28.92 percent in December 2023.
The untamed rise in the Nigeria’s inflation highlights the upward trajectory in consumer prices, driven by economic challenges such as currency depreciation, high energy costs and persistent supply chain disruptions.
“On a year-on-year basis, the headline inflation rate was 5.87 percent higher than the rate recorded in December 2023 (28.92 percent). This shows that the headline inflation rate (on a year-on-year basis) increased in December 2024 compared to the same month in the preceding year (i.e., December 2023),” NBS stated.
Meanwhile, NBS said Nigeria’s food inflation dropped marginally to 39.83 percent in December 2024 from 39.93 percent in November on a year-on-year basis.
CPPE reacts
Reacting, the Chief Executive Officer at the Centre for the Promotion of Private Enterprise, Muda Yusuf, said the inflationary pressures continue to be a troubling feature of the Nigerian economy as reflected in December’s inflation rate.
“Though the increase in the December headline inflation was marginal at 0.2% compared with November inflation figures.”
However, Yusuf is optimistic that Nigeria’s inflation would have a positive outlook in 2025 due to moderation in exchange rate volatility and improvement in foreign reserves.
“Meanwhile, the inflation outlook for 2025 promises to be positive for the following reasons: Sustained moderation in exchange rate volatility and improvements in foreign reserves.
“Prospects of easing geopolitical tensions with the inception of the Trump presidency in a few days time.
“And a strong base effect, given the high inflationary pressures experienced in 2024,” he stated.
The economic think tank group, CPPE, also decried the current fixation of the National Assembly on revenue, especially the arbitrary revenue targets for ministries, departments, and agencies.
“Excessive pressure on MDAs to boost revenue and increase IGR has profound inflationary implications.
“The reality is that such pressures are invariably transmitted to investors in the form of higher fees, levies, penalties, import duties, regulatory charges, etc. These outcomes are in conflict with government aspirations to boost investment, curb inflation, and create jobs.
“Revenue targets should be based on empirical studies, absorptive capacity of the economy, and due consideration of the wider economic implications.
“Obsession with revenue would hurt investments, worsen inflationary pressures, aggravate poverty, and impede economic growth. There should be a careful balancing act between revenue growth aspirations, desire to boost investment, and commitment to moderate inflation,” CPPE stated.
How Nigeria’s inflation rate can drop – CPPE
CPPE highlighted that Nigeria’s inflation can moderate on pause of monetary tightening policy by the Central Bank of Nigeria, reducing fiscal risks.
“To ensure a further moderation in inflationary pressures, CPPE recommends as follows:
“Pause on monetary policy tightening and interest rate hikes by the CBN to reduce business operating costs.
“Reduction in fiscal risks to macroeconomic stability through a reduction in fiscal deficit and deceleration in growth of public debt,” the CPPE stated.
Business
NIGERIAN BOTTLING COMPANY AND QUALITY FOODS AFRICA CHAMPION WATER STEWARDSHIP FOR WORLD WATER DAY 2025

In commemoration of World Water Day 2025, Nigerian Bottling Company (NBC), a member of Coca-Cola HBC (CCHBC) and the bottling partner of The Coca-Cola Company and Quality Foods Africa, operator of Dodo Pizza, Krispy Kreme, Scoop’d Ice Cream and Burger Nation, have reinforced their commitment to water stewardship and environmental sustainability across Nigeria.
World Water Day, observed annually on March 22, is a United Nations initiative to spotlight the importance of freshwater and advocate for sustainable water management. The 2025 theme, “Glacier Preservation,” underscores the critical role of glaciers in sustaining life and maintaining the global water cycle
According to Oluwasoromidayo George, Corporate Affairs and Sustainability Director at NBC, the company marked the occasion with initiatives across several states, engaging communities, environmental advocates, and stakeholders to promote water conservation.
“Water is life—it sustains people, communities, and ecosystems. As the main ingredient in our products, we take our responsibility seriously by using it efficiently, treating it responsibly, and ensuring safe water returns to the communities we serve. Our World Water Day initiatives reflect this unwavering commitment,” George stated.
She explained that NBC’s activities spanned multiple locations, including Maiduguri, Kano, Lagos, Abuja, Asejire, Owerri, and Benin, focusing on water security, waterway and coastal protection, and community empowerment through sustainable actions.
A major highlight of this year’s activities was the clean-up exercise at Elegushi Beach, Lagos, organized in partnership with Quality Foods Africa (QFA), franchisors of loved brands like Dodo Pizza and Krispy Kreme, as well as homegrown brands such as Scoop’d and Burger Nation. Employees of NBC and QFA, along with volunteers and environmental advocates, participated in removing plastic waste and pollutants, reinforcing both companies’ commitment to cleaner coastlines.
“At Quality Foods Africa, sustainability is at the heart of what we do. Partnering with the NBC for this year’s World Water Day aligns with our commitment to responsible business practices. Through initiatives like the Elegushi Beach Clean-Up, we are not just fostering cleaner coastlines but also reinforcing the importance of collective action in protecting our environment for future generations” – Omachona Eguda, Marketing Manager, Quality Foods Africa.
On March 21, NBC conducted an awareness session at Amakohia Primary School, Owerri, educating students and teachers on the importance of water conservation. On March 22, the company embarked on a sensitisation drive at Kuchigoro Community, Abuja, which included a WASH (Water, Sanitation & Hygiene) awareness campaign to enhance community water access and hygiene standards. The activities culminated with a water conservation awareness walk in Owerri on March 25, further amplifying messages on sustainable water management.
Through these initiatives, NBC continues to lead by example in water conservation and environmental sustainability, reaffirming its role as a responsible corporate leader dedicated to a water-secure future.
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About the Nigerian Bottling Company
Nigerian Bottling Company (NBC) Ltd is a member of the Coca-Cola Hellenic Bottling Company A.G, an anchor bottler for The Coca-Cola Company in 29 countries in North, Central and South Europe, Asia and Africa with over 715 million consumers and more than 197 brands in these markets. NBC manufactures, markets, and distributes a portfolio of strong brands including Carbonated Soft Drinks which has the iconic Coca-Cola, Coke Zero, Fanta, Sprite, Schweppes and Limca; Still Drinks including the Five Alive range and Eva water while also partnering with other beverage businesses to sell Monster and Predator energy drinks and premium spirit brands.
Business
inDrive Celebrates Drivers’ Dedication During Ramadan with Special Appreciation Campaign

inDrive, a leading global ride-hailing platform operating in 48 countries worldwide including Nigeria has reinforced its commitment to driver welfare through the recently concluded inDrive Ramadan Drivers’ Initiative in Abuja. This special campaign recognized and rewarded drivers who went the extra mile to serve riders during the holy month of Ramadan.
The weeklong initiative aimed to honor dedicated drivers who remained active throughout Ramadan, ensuring safe and reliable transportation for passengers. The campaign fostered a deeper connection between inDrive and its driver community, reaffirming the platform’s mission to empower and support those at the heart of its operations.
Drivers who remained online and consistently completed rides during the period qualified for a special contest recognizing their dedication. As part of this initiative, numerous hardworking drivers received substantial rewards, while the most outstanding performers were honored with exclusive, thoughtfully curated hampers—symbolizing inDrive’s deep appreciation for their commitment and exceptional service.
“At inDrive, we recognize the dedication and resilience of our drivers, especially during significant periods like Ramadan. This initiative is our way of expressing gratitude and reinforcing our commitment to their well-being and success. We believe that when drivers feel valued and supported, they are better positioned to provide excellent service to riders,” said Timothy Oladimeji, Country Representative at inDrive, Nigeria.
The inDrive Ramadan Drivers’ Campaign underscores the brand’s ongoing efforts to foster a culture of recognition, appreciation, and financial support, ensuring drivers remain at the forefront of its mission to provide fair and people-first mobility solutions.
Business
Aviation unions threaten nationwide airport shutdown over Customs officers’ assault

Aviation unions have threatened to withdraw their services from airports across the country on March 31, 2025, unless the Federal Airports Authority of Nigeria (FAAN) addresses the physical assault by Customs officers on members of staff of the Authority.
The National Union of Air Transport Employees (NUATE), Air Transport Services Senior Staff Association of Nigeria (ATSSSAN), and the Association of Nigeria Aviation Professionals (ANAP), jointly announced the decision in a letter addressed to FAAN management and cited repeated physical attacks on FAAN personnel, including a recent assault on the Director of Aviation Security.
In the letter, the unions demanded the immediate establishment of ‘clear work protocols’ between FAAN and security agencies which aligns with global best practices. They also demanded sanctions for violations to ensure the safety of staff and a formal response and action from FAAN, which they claim has ignored prior ultimatums.
The unions said: “Considering the enormity and frequency of physical and psychological assault on the staff and management personnel of FAAN of which there is no end in sight, we are compelled to inform the management of the unwavering determination of our Unions to cause the establishment of a clear framework of mutual respect among FAAN staff and the security agencies operating at the airports.
“We wish to inform the management of FAAN that, unless clear work protocols that are in tandem with global best practices and with consequential sanctions are in place which guarantees the safety and human rights of FAAN staff, we shall direct all the workers to withdraw from the airports with effect from 31st March, 2025 pending when such protocols are established. The recent assault on no less a personality as the Director of Aviation security of FAAN is one too many which leaves a taste too bitter to swallow.”
FAAN and the Nigeria Customs Service have not responded to the warnings.
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