Tags : Inflation

Inflation Increases By 15.40% In November 2021

The consumer price index, which measures inflation, increased by 15.40 percent  in November 2021. This is 0.51 percent points higher than the rate recorded in November 2020 (14.89) percent.   On a month-on-month basis, the index increased by 1.08 percent in November 2021, this is 0.10 percent higher than the rate recorded in October 2021 (0.98) […]Read More

Inflation Rate Falls To 15.99 In October 2021

The National Bureau of Statistics (NBS) has reported that Nigeria’s inflation rate fell to 15.99 in October from the highest record of 18.17 in March 2021. The report said the Consumer Price Index (CPI), which measures inflation, saw an increase of 1.76 percent when compared to the record in October 2020 (14.23 percent). However it […]Read More

Nigerian Senate Increase Prisoner’s Feeding Cost By 122%

A little over 62,260 people that makeup Nigeria’s prison population would now earn up to N1000 for daily feeding allowance, according to a senate committee’s new decision. The Senate Committee on Interior recently agreed to increase the daily feeding cost of prisoners per day from N450 to N1,000, as proposed in the 2022 budget. The […]Read More

Global Food Prices Hit A 10-Year High – UN

United Nations Food and Agriculture Organization has reported the continuous climb in food prices around the world, hitting a fresh decade high last month. The FAO Food Price Index climbed for a third straight month in October, jumping 3 percent from the previous month to reach its highest level since July 2011. Cereal prices overall […]Read More

Nigeria’s inflation falls to 16.63%, lowest in eight months

According to the National Bureau of Statistics, the inflation rate in Nigeria declined for the sixth consecutive month to 16.63 percent in September. Its lowest level since January this year. In its Consumer Price Index, NBS said the inflation rate fell by 0.38 percent from 17.01 per cent in August. The drop in headline inflation […]Read More

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 […]Read More

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ANALYSIS: COVID-19 Impact Hit Hard On Food Prices

As Nigeria gradually heals up from the impact of the COVID-19 pandemic on its economy, Nigerians are still finding it difficult to adjust to the skyrocketing prices of food stuff despite key indicators showing a slight relief on the country’s economy. Twentyten gathered that averagely, the prices of every ‘regularly… You must be registered to […]Read More

38 Million Nigerian Adults Financially Excluded

A survey has reported that 36 percent of Nigerian adults, or 38 million adults, remained completely financially excluded at the end of 2020. According to a new report by Enhancing Financial Innovation & Access, titled ‘New data from EFInA’, said financial inclusion grew, adding that there was a need for more action. Part of the […]Read More

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ANALYSIS: Nigeria’s Insecurity Threatens Agricultural Growth

Nigeria’s agricultural sector might begin to plunge in its growth owing to recurrent insecurity challenges emanating from different parts of the country. The impact of these insecurity challenges, just like the COVID-19 pandemic, are beginning to deny farmers and traders access to grow crops and make sales respectively. The Nigerian… You must be registered to […]Read More

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 […]Read More