Lower Inflation Not Translating To Lower Production Costs – Manufacturers

The Manufacturers Association of Nigeria (MAN) has said the recent moderation in the country’s headline inflation rate has not translated into lower production costs for manufacturers.
MAN stated this in its position on the August 2026 inflation report, where headline inflation moderated to 15.39 percent from 15.43 percent in July.
The director-general of MAN, Segun Ajayi-Kadir described the 0.04 percentage point decline as a positive development for business planning, investment and consumer welfare, but noted that the improvement remains fragile.
“More importantly, a lower inflation rate does not necessarily mean that manufacturers are experiencing lower production costs,” he said...