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Inflation Pushes 23 million Nigerians Into Food Crisis
About 23 million Nigerians were pushed into a food crisis due to the impact of the COVID-19 pandemic-induced inflation in 2021. The World bank said this in its latest Commodity Markets Outlook report in reference to the Global Report on Food Crises. According to the Washington-based, rising food prices have heightened food insecurity in emerging…
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Comparing Q1 Inflation Rate Across Five Years
According to the latest figures from the National Bureau of Statistics, Nigeria’s Consumer Price Index rose to 15.92 percent in March 2022. This new figure was the highest the country has recorded since November 2021. In the first quarter of the year, Nigeria’s inflation rate grew from 15.60 percent in January to 15.92 recorded in…
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Inflation Hits 15.92% In March 2022
Latest figures from the National Bureau of Statistics showed that Nigeria’s Consumer Price Index rose to 15.92 percent in March 2022. This new rate is the highest the country has recorded since November 2021 with an inflation rate of 15.99 percent. The NBS in its “CPI report for March 2022” revealed that Nigeria’s inflation fell…
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Nigeria’s Inflation Rate Drops To 15.60% In January
The consumer price index, which measures inflation, dropped to 15.60 percent year-on-year in January 2022. This is 0.87 percent points lower than the rate recorded in the corresponding month in 2021 (16.47) percent and 0.03 percent recorded in December 2021. The National Bureau of Statistics which disclosed this in its Consumer Price Index report for…
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Meal For Learning (2): Market Prices Stiffen Cooking Process, Alternative For Students
For Twentyten Daily, Abdulsemiu Monsuroh highlighted how Nigerian students are finding it difficult to adjust to the increasing food prices despite having income from their sponsors (parents/guardians). For Kabirat Arowona, a part two undergraduate of Pasture and Range Management at the Federal University of Agriculture Abeokuta(FUNAAB), cooking with Liquefied Petroleum Gas (cooking gas) has become…
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Meal For Learning (1): Nigerian Students Struggle With Increasing Food Prices
Despite the declining inflation rate in Nigeria, the persistent increase in food prices is affecting students in different tertiary institutions across Nigeria. Faith Omoniyi, for Twentyten Daily, spoke with several students who narrated their experiences studying in Nigeria’s unfavorable economic situation. Victor Awotubo, a student of english and literary studies in the Federal University, Oye-Ekiti,…
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Inflation Rate Drops For Fifth Consecutive Month
The National Bureau of Statistics revealed that the Consumer Price Index which measures inflation rate fell to 17.01 percent in August. According to the latest CPI report, this rate is 0.37 percent points lower than the 17.38 percent recorded in July this year. This, according to the report, is the fifth consecutive month that the…
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Nigeria’s Inflation Drops To 17.38% In July
The Consumer Price Index which measures inflation has dropped by 17.38 percent in July 2021. This is 0.37 percent lower than the rate recorded in June 2021 (17.75%). The National Bureau of Statistics disclosed this in its Consumer Price Index report for June. Increases were recorded in all Classification of Individual Consumption According to Purpose…
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FG Spends $5 Billion On Poverty Alleviation In 5 Years
The administration of President Muhammadu Buhari has revealed it has spent over $5 billion in the last 5 years fighting poverty in Nigeria. The Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajia Sadiya Farouq, has said the President has since backed his pledge to pull out 100 million Nigerians from poverty by committing…
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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…