The Association of Bureau De Change Operators of Nigeria (ABCON) anticipates a further increase in benchmark rates by the Central Bank of Nigeria’s Monetary Policy Committee (MPC) to address the persistent inflation rate. Its President, Alhaji Aminu Gwadabe, made the…
By Sodiq Adelakun Deputy Governor of Nigeria’s Central Bank, Muhammad Sani Abdullahi, revealed alarming projections on Nigeria’s inflation trajectory during an address at London’s CITI-CEEMA Macro Conference on March 20, 2024. Abdullahi’s analysis shed light on three critical factors driving…
With frantic efforts by the President Bola Tinubu administration to stabilise the economy, the inflation rate has continued to rise on a monthly basis without drastic measures. Following the trends of inflation report by the National Bureau of Statistics (NBS)…
By Matthew Denis, Abuja Nigeria has experienced a surge in its inflation rate, reaching 29.90 percent, up from the previous month’s 28.92 percent, indicating a 0.98 percent increase and highlighting the persistent acceleration of inflation in the country. The National…
Following the impact of the rising inflation rate on the costs of goods and services, a Federal High Court sitting in Lagos has ordered the Federal Government (FG) to fix the prices of goods and petroleum products within seven days.…
Nigeria’s inflation is projected to drop to 21.5 percent in 2024, from the 24.5 percent recorded in 2023. This is according to the 2024 Macroeconomic Outlook produced by the Nigerian Economic Summit Group (NESG). According to the report, launched on…
The Central Bank of Nigeria (CBN) Governor, Mr. Olayemi Cardoso, has declared that the apex bank is set to wield a rod of discipline to ensure adherence to regulations in the forex market and also tame inflation. The CBN Governor…
The Abuja Chamber of Commerce and Industry (ACCI), has called on the Federal Government to take decisive measures to curb the rising inflation in the country. The President of ACCI, Mr Emeka Obegolu, made the call in a statement on…
…As headline inflation hits 28.92% …Stears predicts 31.85% annual inflation, recommends dollar illiquidity to tackle inflation By Sodiq Adelakun, Lagos and Mathew Denis, Abuja Inflation in Nigeria continued to rise for the twelfth consecutive month in December, 2023 with the…
Persistent inflation and foreign exchange challenges are expected to impact the fourth-quarter financial results of companies in the consumer goods sector in 2023, according to a report by Meristem Securities Limited. The report, titled ‘Consumer Goods Sector Update for December…
