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...

Inflation: Bakers to Increase Price of Bread by 20% The price of bread is expected to rise by 20 with the bakers divided on how to address the increase in price of raw materials occasioned by the ongoing war between Russia and Ukraine. The Premium Breadmakers...

Nigeria’s Inflation Exceeds World Bank Projection By 20%   Despite raising its Monetary Policy Rate (interest rate), Nigeria’s inflation rate is now 20 per cent above the World Bank’s projection of 15.5 per cent. In its recent ‘Nigeria Development Update (June 2022): The Continuing Urgency of Business...

Inflation, Forex, Debt Killing Economy - LCCI   The Lagos Chamber of Commerce and Industry has warned the Federal Government to find urgent solutions to the issues of Nigeria’s growing debt burden, inflationary pressure as well as the worsening foreign exchange crisis in order to save...