Tag: Inflation
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Money supply hits historic high in Nigeria, sparking Inflation worries
Nigeria’s inflation could worsen as the country’s money supply (M3), measuring the total amount of
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Economy bites harder as food prices continue to rise in Nigeria
The National Bureau of Statistics (NBS), says prices of beans, tomatoes, irish potatoes, garri, yam and other food items witnessed significant price increases in June 2024.
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IMF cuts Nigeria’s economic growth forecast to 3.1%
The International Monetary Fund (IMF) has cut its forecast for Nigeria’s economic growth in 2024 to 3.1 per cent. The downgrade is contained in a newly released report ‘in the July 2024 World Economic Outlook’ published Tuesday. The IMF cited a weaker growth recorded in the first quarter of the year, Q1’24 as reason for…
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Measures to tackle inflation working – CBN Governor
The Governor of Central Bank of Nigeria (CBN), Yemi Cardoso, has reassured Nigerians that the bank’s economic reforms were yielding significant results.
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Citizens groan as prices of foodstuffs soar
In tune with the extant global trends, Nigeria is experiencing an unprecedented increase in the cost of basic food items. Findings in Kaduna, Kano and Katsina States have shown that Nigeria was not an exception.
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Nigeria will continue to be in trouble in terms of food – Mile 12 Market Chairman
Chairman of Mile 12 Market in Lagos State, Shehu Usman Jubrin has said Nigeria will continue to be in trouble in terms of the prices of food items in the country.
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Sense and nonsense of Nigeria’s economic crisis – By Dakuku Peterside
Nigeria is probably in the worst economic crisis of a generation, screamed The New York Times on June 11th, 2024. Two other influential global publications, Foreign Affairs and The Economist, had earlier said the same thing under different headlines.
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Delta leads States among slowest rise in cost of living
While the cost of living in Nigeria continues to rise, Delta State (28.67%) along with Borno (25.97%) and Benue (27.74%) States recorded the slowest rise in headline inflation for all-items inflation rate on year-on-year basis in May 2024.
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Expert faults CBN increase in interest rate
Mr Daniel Akeju, an advisor and treasury manager has faulted the Central Bank of Nigeria (CBN) recent increase in the Monetary Policy Rate (MPR) in an attempt to curb inflation and stabilise the economy.
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The scourge of rising inflation – 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 electricity tariff, have had unintended consequences.