The National Bureau of Statistics (NBS) says Nigeria’s headline inflationgf rate increased to 33.20 per cent in March 2024. The NBS said this in its Consumer Price Index (CPI) and Inflation Report for March, which was released in Abuja on Monday. According to the report, the figure is...
inflation
The International Monetary Fund (IMF) says inflation is easing faster than expected but has not been fully defeated. Managing Director of IMF, Kristalina Georgieva,was quoted in a statement by the Fund on Thursday to have said this at the China Development Forum (CDF) 2024, in Beijing. The event...
Chief Whip of the Senate, Sen. Ali Ndume, has urged the Federal Government to reconsider its position on hike in electricity tariff, saying Nigerians are yet to recover from the removal of fuel subsidy. Ndume, who gave the advice in a statement in Abuja on Saturday, described the...
The Central Bank of Nigeria (CBN) on Tuesday announced further tightening of the monetary policy by raising the Monetary Policy Rate (MPR) by 200 basis points, to 24.75 per cent from 22.75 per. CBN Governor, Yemi Cardoso, made this known while presenting the communique from the 294th...
An Oil and Gas expert, Mr Emmanuel Iheanacho, has said the improvement observed in the value of the naira, would not bring about an automatic reduction of petroleum pump price. Iheanacho, Chairman, Integrated Oil and Gas Ltd, said in an interview with the News Agency of Nigeria (NAN)...
By ARMSTRONG ALLAHMAGANI, Bauchi – Bauchi State Governor, Bala Mohammed, has said that his administration has procured 110,000 bags of grains as Ramadan palliatives for distribution to vulnerable groups across the state worth N2 billion. He disclosed this in his speech while flagging off the distribution of the...
By PATRICK ABANG, Càlabar – A Financial expert, James Etudor, says the use of bitcoin as a hedge unlike traditional currencies has a capped supply making resistance to inflationary pressure. Mr. Etudor, who is the Manager of Ipaybtc, stated this in an exclusive interview with NATIONAL ACCORD in...
The price of cassava flakes, popularly known as ‘garri’, and rice have recorded more than 50 per cent increase in Enugu metropolis. The NAN Correspondent who conducted a market survey on Sunday in Enugu, observed that prices of foodstuffs such as garri and rice have increased by 50...
Ukrainian Government has donated 25,000 tonnes of wheat as emergency food assistance to 1.3 million vulnerable, crisis-affected people in northeast Nigeria amidst rising inflation and food price spikes in the country. This is contained in a statement issued by Atinuke Akande-Alegbe, Senior Communications and Public Diplomacy Officer, British High...
By JOY ADARA, Abuja – The Tinubu Media Support Group (TMSG), has described former vice president Atiku Abubakar’s recommendation of measures introduced by Argentina’s President, Javier Milei, for Nigeria as unrealistic. Abubakar had in a statement on Sunday, said that Nigeria should take a lesson from how the president...
The Central Bank of Nigeria (CBN) has said the on-going reforms will check rising inflationary trend and address distortions in the foreign exchange market The CBN Governor, Yemi Cardoso said this on Tuesday in Abuja, while presenting the communique from the apex bank’s Monetary Policy Committee (MPC) meeting....
The Central Bank of Nigeria (CBN)’s Monetary Policy Committee (MPC) has raised the Monetary Policy Rate(MPR) by four hundred basis points to 22.75 percent from 18.75 percent. Governor of the CBN Yemi Cardoso announced this after the first MPC meeting for the year in Abuja on Tuesday. “All...
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso says the Naira is grossly undervalued. Cardoso said this on Tuesday in Abuja, while presenting a communiqué from the 293rd meeting of the apex bank’s Monetary Policy Committee (MPC). He said that the foreign...
The National Bureau of Statistics (NBS) says prices of beef, rice, beans, onion, tomato, and other food items increased in January 2024. It said this in its Selected Food Prices Watch report for January 2024 released in Abuja on Tuesday. The report said that the average price of...
A few days ago, Ndigbo came under fire from Professor Usman Yusuf, the former Executive Secretary of the National Health Insurance Scheme (NHIS), for their perceived lack of interest in the ongoing nationally spreading hunger protests and strikes. He said: “I honestly don’t know why the South East...
Small and Medium Enterprises (SMEs) are now struggling to make sales and profit due to the spike in the prices of commodities in various markets across Kaduna State. Some small business owners who spoke to the News Agency of Nigeria (NAN) on Sunday said that they fear being...
Some wholesalers and retailers of liquor and beverages have decried low level of patronage of their products amidst soaring costs, following price increment by bottling companies across the country. The stakeholders in an interview with the News Agency of Nigeria (NAN) in Lagos on Saturday, said there had...
The Central Bank of Nigeria (CBN) has announced an upward review of the Price Verification System (PVS) from 2.5 per cent to 15 per cent. According to a circular by Dr Hassan Mahmud, Director, Trade and Exchange Department of the CBN, this is in a bid to check...
The National Bureau of Statistics (NBS) has said Nigeria’s headline inflation rate increased to 29.90 per cent in January 2024 from 28.92 per cent recorded in December 2023. The NBS disclosed this in its Consumer Price Index (CPI) and Inflation Report for December, which was released in Abuja...
President Bola Tinubu recently declared that he should be included in the Guinness Book of Records for having the guts to remove fuel subsidy on his first day in office—something that no other Nigerian president has ever done. Yes, he does deserve a spot like that, but sadly,...