…External reserves hit 17-month high of $37bn, to boost investor confidence …Nigeria’s capital importation hits $5.92 billion …Implement fiscal policy measures to tackle inflation — CPPE to FG …Pressure on Naira represents a clear risk to Nigeria’s policy rate —…
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has said that persistent inflation could prolong monetary tightening measures and hinder the nation’s growth potential. He said this in the foreword of the inaugural edition of the CBN’s…
…Weak foreign reserves responsible for high inflation rate — Ayo Teriba …Cost of production, unemployment, major drivers of high inflation — Fmr CIBN Pres., Ajibola By Seun Ibiyemi Following the increase in the inflation rate from 33.96 percent to 34.19…
The Federal Government has released over 700 metric tonnes of grains to Ekiti as part of measures to mitigate the effects of astronomic increase in the prices of food commodities. The state Deputy Governor, Mrs Monisade Afuye, said this during…
The Nigeria Customs Service (NCS) says it is determined to smoke out food hoarders as part of its contribution to checking inflation, the Comptroller General (C-G), Adewale Adeniyi has stated. “The service will continue to work tirelessly to ensure that…
The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate increased to 33.95 per cent in May 2024. The NBS said this in its Consumer Price Index (CPI) and Inflation Report for May, which was released on Saturday in…
…Households spend 60% of income on food as import bill hits N1.4trn …Families shun Sallah rams, low key celebration imminent across the country By Our correspondents Nigerian households are struggling to cope with the skyrocketing prices of staple foods, with…
Nigeria’s food crisis is gunpowder awaiting a spark to create national upheaval, threatening sovereignty. Prices are at an all time high, food inflation nicking 40.5 percent. The previous administration, misled by arsinine economic ideologies, turned Nigeria into a closed system…
By Kenechukwu Aguolu, FCA, PMP, CBAP In response to Nigeria’s alarming inflation rate of 33.69 percent in April 2024, the Central Bank of Nigeria’s Monetary Policy Committee, during its 295th meeting held on the 20th and 21st of May,2024, opted…
By Dakuku Peterside An increasing number of Nigerians are being driven into poverty, not by choice, but by the current political and economic climate, shaped by stringent macroeconomic policies. These policies, such as subsidy removal, devaluation of Naira, and increase in…
