Nigeria’s headline inflation has dropped to 24.48 per cent year on year in January 2025. This is a sharp decline from the 34.80 per cent headline inflation recorded in December 2024. This is according to the National Bureau of Statistics (NBS). The Statistician-General of the Federation Adeyemi Adeniran announced...
inflation
Donald Trump has pleaded to end inflation, lower costs, secure America’s border, and restore peace through strength as he was sworn in as the 47th president of America. Trump was sworn in as U.S. president after taking the oath of office in the rotunda of the U.S. Capitol building...
Egypt is stepping up diplomatic engagement with African nations as it seeks to bolster security in the strategically vital Horn of Africa and Red Sea region. Ongoing conflicts in the region have sharply cut into Egypt’s crucial Suez Canal revenues. The diplomatic effort comes as Egypt grapples with a...
An economist, Prof. Sherifdeen Tella, has urged the Federal Government to move beyond tackling the structural challenges in the economy to reduce the inflation rate in 2025. Tella, Head of Economics Department, Olabisi Onabanjo University (OOU), said this in an interview with the News Agency of Nigeria (NAN) in...
Nigeria’s headline inflation rate rose to 34.60% in November 2024 from 33.88% in October 2024, the National Bureau of Statistics (NBS) said Monday. The November inflation rate showed an increase of 0.72% points compared to the October 2024 inflation rate, according to NBS’s latest Consumer Price Index (CPI) report...
Statistics South Africa on Wednesday said South Africa’s inflation rate dropped in October to its lowest level since the peak of the COVID pandemic. Statistics South Africa said falling fuel prices were the primary driver of the slowdown in annual inflation to 2.8 per cent from 3.8 per cent...
Subscribers to pay TV services have berated MultiChoice Group for announcing that its Nigerian unit, MultiChoice Nigeria, lost 243,000 subscribers on its Digital Satellite Television (DStv) and GOtv services within six months. The News Agency of Nigeria (NAN) reports that the South African-owned pay-TV operator had, in its Interim...
Vice-President Kashim Shettima has said the Federal Government’s ongoing efforts to strengthen the country’s trade sector is showing promising results, as Nigeria recorded N6.5 trillion trade balance in second quarter of 2024. Shettima, represented by the Secretary to the Government of the Federation (SGF), George Akume, said this at...
The Democratic Front (TDF) has welcomed Fitch Ratings’ projection that Nigeria’s inflation rate would decrease from 33.7 per cent to 26.2 per cent by Q1 2025. The group, in a statement signed on Sunday in Abuja, by Malam Danjuma Mohammed, its Chairman, and Chief Wale Adedayo, Secretary, said the...
The National Bureau of Statistics (NBS) reports that prices of essential food items, including beans, eggs, bread, rice, and tomatoes, experienced significant increases in September 2024. The NBS said this in its Selected Food Prices Watch report for September 2024 released in Abuja on Wednesday. The report said that...
The World Bank has released the Nigeria Development Update report, stating that over 129 million Nigerians are currently trapped in poverty. It released the report on Thursday in Abuja as headline inflation rises, forcing millions of Nigerians into hunger. According to the global financial body, the over 129 million...
The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate further declined to 32.15 per cent in August 2024. The NBS said this in its Consumer Price Index (CPI) and Inflation Report for August 2024, which was released in Abuja on Monday. According to the report, the figure...
The National Bureau of Statistics (NBS) on Thursday said the Nigeria’s headline inflation rate declined to 33.40 per cent in July. This is contained in the NBS Consumer Price Index (CPI) and Inflation Report for July, which was released in Abuja. The figure is 0.8 per cent points...
Hotel Owners Forum Abuja (HOFA) has blamed the high lodging charges in hotels in the Federal Capital Territory (FCT) on the recent hike in electricity tariff. The President of HOFA, Mrs Funmi Kazeem, told the News Agency of Nigeria (NAN) in Abuja that the recent electricity tariff hike...
Canteen and restaurant owners have decried the rising cost of beans as they seek Federal Government’s intervention over the staple food. The food vendors said this in separate interviews with the News Agency of Nigeria (NAN) on Sunday in Lagos. NAN reports that in recent times the price...
The Abuja Chamber of Commerce and Industry (ACCI), has expressed deep concern over the persistent rise in commodity prices. The ACCI President, Emeka Obegolu, in a statement, said the daily price increments were adversely affecting small-scale business owners and escalating poverty levels. “The surge in prices of essential...
The National Bureau of Statistics (NBS) has said 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 Abuja According to the report, the figure...
The new Senegalese government has unveiled measures to reduce the price of rice, oil, bread, and other basic items to address cost-of-living concerns amid high unemployment and inflation. The country’s budget Minister Cheikh Diba confirmed the development. Recall that President Bassirou Diomaye Faye, who won the March election, vowed...
The National Bureau of Statistics (NBS), says prices of rice, garri, tomato, beans, yam and other food items increased in April 2024. The NBS said this in its Selected Food Prices Watch report for April 2024 released in Abuja on Friday. The report said that the average price...