The National Bureau of Statistics (NBS) said today that the headline inflation rate increased year-on-year (YoY) by 0.98 percentage points to 29.9 per cent in January 2024 from 28.92 per cent in December 2023. The Bureau disclosed this in its Consumer Price Index, CPI, report for January 2024, noting that food inflation also increased to [&hel...
•Aare Afe Babalola, SAN Founder of Afe Babalola University, Ado-Ekiti (ABUAD) Aare Afe Babalola, SAN, has lamented the rising inflation rate in the country, calling on President Bola Tinubu to urgently take decisive action towards saving the nation’s economy. The renowned legal icon argued that the rising prices of goods and services and the d...
As the National Bureau of Statistics (NBS) is set to release the January 2024 inflation report, this week, analysts at Financial Derivatives Company (FDC) have projected that inflation rate for January 2024 May hit the 30 percent mark. They also projected that the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) will [&h...
•Inflation rate Inflation closed 2023 at a 21-year high of 28.92 per cent, the National Bureau of Statistics has disclosed. In December 2023, Nigeria’s headline inflation rate rose to 28.92 per cent from 28.20 per cent in November 2023. This signified a 0.72 percentage point increase when compared to November 2023. According to inflation data ...
Nigerian economy may have been, excruciatingly, ensnared in a doom loop with entrenched runaway inflation, troubled currency market, upsetting deficit funding crisis, persistent pressure on local businesses and similar warning indicators halting a few but haphazard moves to create flywheel and break the circle. Indeed, the sort of difficult ti...
The year 2023 has been a challenging year for the global economy as inflation, rising interest rates, tight labour markets and geopolitical shocks hit forecasts and caused uncertainties. Nigeria, the largest economy in Africa was not exempted from these challenges as the country’s financial sector witnessed some highs and lows in the year in r...
The National Bureau of Statistics (NBS) today Friday, December 15, said the inflation rate rose from 27.33% in October 2023 to 28.20% in November 2023. This was contained in its document tagged: “CPI and Inflation Report November 2023.” The report said: “In November 2023, the headline inflation rate increased to 28.20% relative to October 2023...
Nigeria’s alignment with the current economic reality, coupled with rising inflation, slow growth, floating of exchange rate and volatility in global oil prices, may have exposed the fragility of her economic model and affected its global trade standing. While trade presents one vital but often untapped pathway to poverty reduction, through it...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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