Inflation Pushes 129 million Nigerians into Poverty – World Bank Report The World Bank has released the Nigeria Development Update report, stating that over 129 million Nigerians are currently trapped in poverty. It released the report on Thursday in Abuja as headline inflation rises, forcing millions...

Interest Rate Hikes Alone Won't Tackle Inflation – LCCI The Lagos Chamber of Commerce and Industry (LCCI) says rate hikes alone will not curb inflation without first resolving the challenges in the real sector. President, LCCI, Mr. Gabriel Idahosa, made this known at its quarterly State...

Nigeria’s Inflation Rate Rises to 32.7%  The National Bureau of Statistics (NBS) says the consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 32.7 percent in September. This is the first increase in three months after the...

In-country Food Production Will Strengthen Exchange Rate, Tame Inflation - Edun   The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, yesterday argued that with adequate in-country food production, the current high inflation rate will be curbed considerably. Edun made the comment as the...

NBS Reveals Nigerians Paid 64.58% More For Diesel in August   The average retail price of Automotive Gas Oil, popularly called diesel, in Nigeria surged by 64.58 per cent year-on-year, reaching N1,406.05/litre in August 2024 compared to the N854.32/litre recorded in the same month last year. This...

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), has refuted claims made by the National Bureau of Statistics (NBS) which reported a consecutive monthly drop in the rate of inflation in Nigeria.