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...

Inflation Looms As Manufactured Goods Drop By 36% To N2.87trn   The value of manufactured goods traded tumbled by 36 per cent from N4.51tn in the second quarter of 2021 to N2.87tn in the corresponding period of 2022. This is according to the foreign trade report by...

Cooking Gas Price Hits 105% In 12 Months   The average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking gas) increased by 105 per cent within the last twelve months. This follows an increase from N2200 in August 2021 to N4500 in August...

ABCON Cautions Against Policies That May Worsen Inflation Impacts   Association of Bureaux De Change Operators of Nigeria (ABCON) has cautioned the federal government against policies that can worsen the impact of upward inflationary trend on the populace. The association gave this warning in its Quarterly Economic...