-
‘270 million Facing Starvation Globally’
A worldwide coalition of non-governmental organisations and Civil Society Organisations has raised concerns over the increasing number of people, estimated at 270 million, facing starvation globally. The group under the aegis of the International Council of Voluntary Agencies (ICVA) wrote in an open letter to leaders of nations across the world endorsed by 260 NGOs…
-
Nigeria’s Inflation Hits 18.17%, Highest In Four Years
The inflation rate in Nigeria has increased to 18.17 percent in March 2021. This is the highest level recorded since January 2017. According to the Consumer Price Index of March 2020 published by the National Bureau of Statistics (NBS), the prices of food have also gone up to 21.79 percent recorded in February to 22.95…
-
CBN Moves To Ban The Importation Of Sugar, Wheat
Nigeria’s apex bank has announced a ban on the importation of sugar and wheat to the nation’s foreign exchange markets is in works. The prices of sugar and wheat are now expected to blow up with the latest restriction, announced a day after the National Bureau of Statistics (NBS) revealed that food inflation rose to…
-
CBN Injects N1.487trn For Food Security
The Central Bank of Nigeria has said it’s disbursed N1.487 trillion under its various agricultural programmes to boost food security. Emefiele said that the apex bank disbursed N107.60 billion to 548,109 farmers cultivating 703,619 hectares of land between the fourth quarter of 2020 and the first quarter of 2021 to boost dry season output. “Total…
-
Nigeria’s Inflation Rises To 17.33% In February 2021
Nigeria’s inflation rate has risen to 17.33 percent in February 2021, from 16.47 percent recorded in January 2021. This, according to the latest inflation report published by the National Bureau of Statistics, represents the highest inflation rate recorded in four years. The last time the country recorded an inflation rate this high was in February…
-
Food Inflation Rocks Nigeria’s Economy
Following a report published by the National Bureau of Statistics, the prices of food rose by 1.3 percent in December 2020, The closely watched index rose sharply by 19.56% in December compared to 18.3% recorded in the previous month. According to the report, “On a month-on-month basis, the food sub-index increased by 2.05% in December…
-
Nigeria’s Spiking Food Inflation Continues Unabated
The prices of food items have increased by approximately 30 per cent in different parts of Nigeria over the last one year according to the Nigeria Bureau of Statistics, (NBS). The price of 1kg of onion rose from N202 to N270.59 showing a 33.38 percent increase. The average prices of local rice and imported rice…