•Foodstuff open market The Centre for the Promotion of Private Enterprise (CPPE) yesterday cautioned that a drastic reduction in inflation figures does not equate to a decrease in the overall price level of goods and commodities. In a statement signed by Dr. Muda Yusuf, the CPPE warned that while the sharp deceleration in inflation should [&he...
•Trump and Tinubu African market, including Nigeria, may be up for a new scramble in months ahead following the brewing tariff war between the United States and its three top trading partners – Canada, China and Mexico. While opinions are still largely divided on how the rivalry will impact African economies, Nigeria, which is among […]...
•Shoe seller Bidemi Bello attends to a costumer at the Balogun Market, Lagos Bolstered by demands synonymous with the festive season, Nigeria’s headline inflation rate jumped to 34.80% in December 2024 from 34.60% in November 2024, the National Bureau of Statistics said today. The apex government data agency made this known in its latest Cons...
•Tinubu (C) and Organised Labour leaders The Organised Labour says it is pushing for an annual increase to the ₦70,000 minimum wage paid to workers in Nigeria. Labour said it is important that the minimum wage paid to workers reflects a rise in inflation every year. “What we are pushing on for Labour is that […]
Yesterday’s hike in the Monetary Policy Rate (MPR) by the Central Bank of Nigeria (CBN) has raised serious concerns for borrowers, businesses, and pensioners, as the gap between interest rates and inflation has widened to a significant 5.88 percent, intensifying the strain on households and businesses while posing a considerable threat to the ...
•The Bank of England The Bank of England today said it was cutting its key interest further after UK inflation hit a three-year low and signalled more reductions. As widely expected, the BoE trimmed borrowing costs by 25 basis points to 4.75 percent at a regular policy meeting, its second reduction since August, reports AFP. […]
•Foodstuff Nigeria’s inflation rate surged to 32.70% in September 2024, the latest report by the National Bureau of Statistics (NBS) has indicated. This marks a 0.55% increase from August’s rate of 32.15%, driven primarily by rising food and transportation costs, particularly following recent petrol price hikes. Statistician General and Chief ...
There are indications that prices of bread and other flour based food items would continue to rise as bakers and flour millers said there is no end in sight for solutions to the key drivers of the cost in the sector. Meanwhile the operators told our correspondent that they would continue to pass the costs […]
Construction activities at various sites across Nigeria have significantly slowed as inflation continues to escalate, a real estate consultant, Mr. Debo Adejana, has said. Speaking at a media briefing in Lagos, Adesina disclosed that developers and property managers had expressed growing concerns over the sluggish pace of construction, which i...
•Tinubu A chieftain of the ruling All Progressives Congress (APC), Ambassador Abayomi Nurain Mumuni, has advised the federal government under the leadership of President Bola Tinubu to make policies to ensure price control on essential goods and services across the country. Mumuni noted that this is necessary to curb incessant increment of pri...
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