Emefiele Says Nigeria’s Inflation May Drop To Below 15% Next Year   The Central Bank of Nigeria is targeting a drop in the country’s inflation rate to less than 15 per cent by end-2023. The governor of the apex bank, Godwin Emefiele, stated this at the 57th...

Prices May Soar as Inflation Hits Bottled Water Producers The Association of Table Water Producers of Nigeria has announced plans to shut down operations, and hike prices of sachet and bottled water due to the high cost of production and raw materials. It noted that the...

Rising Inflation Drives Consumption Expenditure To N57trn In H1, 2022   Rising inflation drove Nigerians’ consumption expenditure to N57.08trn in the first half of 2022. This is a 14.39 per cent increase from the N49.89tn that was spent in the corresponding period of 2021, according to the...

Inflation: Nigeria, Others Risk Political Instability - IMF The International Monetary Fund has said Nigeria and other countries in the Sub-Saharan African region risk social and political instability and worsening food insecurity because of rising inflation. According to the IMF, inflation has nearly doubled pre-pandemic levels...

CBN Raises Interest Rate To 15.5% To Tame Inflation   The Monetary Policy Committee of the Central Bank of Nigeria has raised the benchmark interest rate from 14 to 15.5 per cent in order to tame the rising inflation rate. This represents a 150-basis-point increase from the...

As Inflation Bites Harder, African Central Banks Poised for Rate Hikes Africa’s three biggest economies are poised to raise interest rates this week as well as next week while policy makers in several other countries stake out different approaches to navigate inflation shocks and bring...