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…
In April 2024, the headline inflation rate rose to 33.69 percent, up from 33.20 percent in March 2024, marking an increase of 0.49 percent points according to the Nigeria Bureau of Statistics (NBS). Comparing year-on-year data, the inflation rate in April 2024…
The Centre for the Promotion of Private Enterprise, CPPE, said the Nigerian government should activate all fiscal tools to tackle inflation. Muda Yusuf, the Director of CPPE, disclosed this on Wednesday, while reacting to Nigeria’s latest headline inflation figure. However,…
Millions of Nigerians are groaning because of the devastating inflationary pressure that is making it impossible for many to consume the minimum calories required for a healthy living. It is known that Nigeria’s macroeconomic environment has become very harsh in…
Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso has expressed concerns on how the continued hike of interest rates may make the country unattractive for investments. The Governor was expressing his concerns while commenting on the Apex’s…
The Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso, has said that interest rates will remain high until the inflation rate is tamed. Cardoso, who said that the CBN Monetary Policy Committee, MPC, was taking all necessary measures…
