Inflation Soars To 21.82% Amid Naira Redesign   Nigeria’s inflation soared to 21.82 per cent in January 2023, according to the National Bureau of Statistics. This is amid a redesign of the naira by the Central Bank of Nigeria. January’s inflation rate is a 0.48 per cent...

Foreign Investment In Agric Sector Drop By 37.9%   In apparent reflection of the numerous challenges bedeviling the agriculture sector in Nigeria, especially the problem of insecurity, foreign capital inflow into the sector fell by 37.9 percent Year-on-Year (YoY) in the half year ended June 30,...

Household Food Imports Rise By 71% In Four Years   Food and beverage imports for households rose by 71.12 per cent between the third quarter of 2018 and the corresponding quarter of 2022 despite the foreign exchange crisis in the country. This was based on data from...

Fitch Predicts Slow Economic Growth For Nigeria In 2023   The Nigerian economy will continue to slump in 2023 due to activities leading to the general elections next year, but would likely pick in 2024, with growth rising to 3.3 per cent, a Fitch Solutions Country...

Wheat Price Rises By 50% As Import Drops   The price of durum wheat has risen by 50 per cent since the start of 2022 and its importation has fallen by 16.09 per cent. This is because of the global scarcity of wheat caused by the Russian-Ukraine...

FCT, Abia Lead As Food Prices Soar – NBS Report   The Federal Capital Territory (Abuja) and Abia State have led a number of other southern states as food prices soar to record levels in 2022. This is according to data from “selected food prices” reports by...