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Expert: How Nigeria GDP Could Hit $1.5 Trillion In 2030
According to Bismarck Rewane, foremost economist, Nigeria could attain $1.5trn Gross Domestic Product (GDP) by 2030, if it attracts both domestic and international capital to achieve a gross domestic product level. Rewane, the Chief Executive Officer of Financial Derivatives Company, said achieving this level will lead to an accelerated, sustainable and inclusive growth for the…
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Nigeria Ranks 5th On Inflation Rate In Africa
A collection of data put together by StatiSense has placed Nigeria at 5th position in the ranking of African countries with the highest inflation rate in December 2020. Statisense published that Nigeria’s 15.8 percent inflation rate comes behind Zimbabwe, Angola, Zambia and Ethiopia. According to the analysis, Zimbabwe had an inflation rate of 348.6 percent.…
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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…
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Nigeria’s Inflation Hit Climax In Three Years
According to the latest Consumer Price Index report, released by the National Bureau of Statistics (NBS), Nigeria’s inflation rate increased by 15.75 percent (year-on-year) in December 2020. This is the highest rate recorded since 2017. The report showed that the latest figures are 0.86 percent points higher than the rate of 14.89 percent recorded in…