Amid rising inflation following the relaxation of the state-imposed curfew, Governor Abba Kabir Yusuf of Kano State has taken proactive measures by engaging the business community in an interactive meeting to explore and implement effective solutions. This was disclosed in a statement released on Wednesday by the Governor’s Spokesperson, Sanusi Bature Dawakin Tofa. Speaking at…
The ongoing efforts by the Central Bank of Nigeria including stabilisation of foreign exchange market and increased monetary policy rate couldn’t stop inflation from rising in March. The latest data from the National Bureau of Statistics (NBS) released on Monday showed that inflation rose to a new 29-year high of 33.2 per cent in March…
The Federal Government in its effort to curb the rise of inflation in the country will lead to a N5trn cash mop up from the banking industry as CBN implements the hike of in banks’ Cash Reserve Ratio, CRR to 45 per cent. The CRR which represents banks’ cash reserves for purposes of meeting cash…
Inflation, the Consumer Price Index, for November surged to 28.20 per cent from 27.33 per cent recorded in October, the National Bureau of Statistics has reported. In its new ‘Consumer Price Index: November 2023’ released on Friday, the National Bureau of Statistics revealed that headline inflation surged by 0.87 percentage points in November to a…
Nigeria’s inflation rate contoured on rising path, reaching 27.33 per cent in October, 2023 Data from the National Bureau of Statistics disclosed on Wednesday, blaming the increase in inflation were food and non-alcoholic beverages, housing, water, electricity gas and other fuel, clothing and footwear, transport, and furnishings and household equipment and maintenance. The latestes data…
Inflation will continue to rise irrespective of weak global economic growth, the International Monetary Fund, IMF, said at the ongoing annual meeting in Marrakesh, Morocco. IMF has earlier reviewed global GDP of 2.9% for 2024 down from 3.5% in 2022 and 3% this year. According to a Financial Times report, while a spate of rate…
No respite in sight for the poor as costing of living keep climbing up with the headline inflation rate for June rose to 22.79%, from the 22.41 percent recorded in May. The Nigerian Bureau of Statistics, NBS, stated this in its monthly Consumer Price Index (CPI) report released on Monday. According to the NBS, the…
