Our reporter/The consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 22.22 percent in April 2023, up from 22.04 percent in…
Read More Nigeria’s inflation rises to 22.22%
Tag: #inflation
World Bank says 5m Nigerians pushed into poverty by inflation, cuts country’s 2022 growth forecast
The World Bank has reduced Nigeria’s 2022 growth forecast to 3.1 percent from a previous forecast of 3.8 percent. The bank attributed the development to declining oil output and reduced…
Read More World Bank says 5m Nigerians pushed into poverty by inflation, cuts country’s 2022 growth forecast
CBN raises interest rate to 16.5% as inflation persists
Our reporter| The Central Bank of Nigeria (CBN) on Tuesday raised the monetary policy rate (MPR), which measures interest rate, from 15.1 percent to 16.5 percent to tame rising inflation…
Read More CBN raises interest rate to 16.5% as inflation persists
FG blinks, postpones removal petrol subsidy
By our reporter/ The federal government on Monday announced the postponement of the planned petrol subsidy removal till further notice. Zainab Ahmed, minister of finance, budget, national planning, disclosed this…
Read More FG blinks, postpones removal petrol subsidy