World Bank Says Fuel shortage, Inflation’ll Weaken Nigeria’s Economic Growth   The World Bank has said that fuel shortage and rising inflation will likely restrain economic growth in Nigeria. It said this in the June 2022 edition of its Global Economic Prospects report. The financial institution had projected...

Inflation Increases To 17.71%, Now 11 Month High   The National Bureau of Statistics (NBS) yesterday said from the 16.82 per cent in April, this year, inflation rose to 17.71 per cent last month, hitting 11 months high. According to its document entitled: “Consumer Price Index (CPI...

World Bank Predicts More Hardship For Nigerians Over Rising Inflation, Power Cut, Fuel, Food Shortage   The World Bank has predicted more hardship of Nigerians and the citizens of Angola over the rising inflation, increased power outages as well as a shortage in fuel and food. This...

Inflation May Worsen As FG’s Borrowing From CBN Hit N19trn   The Federal Government’s total borrowing from the Central Bank of Nigeria (CBN) through Ways and Means Advances rose from N17.46tn as of December 2021 to N19.01tn as of April 2022. According to data from the CBN,...

Russia-Ukraine: Rising Shipping Costs May Worsen Inflation In Nigeria - IMF   The International Monetary Fund has said rising shipping costs as a result of the ongoing war between Russia and Ukraine may worsen inflation in Nigeria, and other nations in the world. The Washington-based lender disclosed...

Nigeria's inflation rate fell to 15.6% in January 2022, reversing an upward trend exhibited in December 2021 after it increased to 15.63%. The National Bureau of Statistics (NBS) released the consumer price index report. Compared to December, the headline index increased by 0.34% points to 1.47%...