inflation crisis
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Nigeria CBN Implements Drastic Measures: Interest Rates Skyrocket to 22.75% in Bid to Tackle Inflation Surge
In response to the persistent challenge of soaring inflation, the Central Bank of Nigeria (CBN) has announced a significant hike in the monetary policy rate, raising it by 400 basis points from 18.5% to 22.75%. CBN Governor Olayemi Cardoso revealed this decision during the 293rd Meeting of the... -
Nigeria Nigerians Brace for Economic Hardships as Inflation Soars to 29.90% in January 2024
Nigeria's inflation rate surged to 29.90% in January 2024, marking a significant increase from the previous month's 28.92%, as reported by the National Bureau of Statistics (NBS). The latest inflation report highlights a persistent upward trend, indicating that the inflationary pressures in the... -
Nigeria Nigeria's Inflation Soars to 28.9% in December 2023, Triggering Economic Concerns
As economic turmoil intensifies, the National Bureau of Statistics (NBS) released its December 2023 Consumer Price Index (CPI) on Monday afternoon, revealing a shocking surge in Nigeria's inflation rate to 28.9%. In comparison to November 2023's 28.20%, this new figure represents a significant...
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