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Business Economy Top Story

Navigating Nigeria’s Cost of Living Crisis: Challenges, Impacts, and Solutions

Nigeria, the most populous nation on the African continent and an economic powerhouse is currently in the throes of a severe cost-of-living crisis that has profound implications not only for its people but also for its economic landscape. This crisis has emerged as a potent confluence of both domestic and international factors, creating a formidable Read More…

Business Commodities Inflation Top Story

Skyrocketing Food and Housing Costs Propel Nigeria’s Headline Inflation Rate to 24.08% in July 2023

The National Bureau of Statistics (NBS) has revealed a striking surge in Nigeria’s headline inflation rate, which has vaulted to 24.08% in July 2023. This alarming revelation was underscored by the NBS Consumer Price Index (CPI) and Inflation Report for July, disclosed in Abuja on Tuesday. The report spotlights the primary catalysts of this escalation: Read More…

Business Economy Top Story

Inflation down to lowest in more than five years in November

It is still double-digit inflation but in November, Nigeria experienced its lowest inflation climb in more than five years. In November, eased by 0.59 percentage points to 15.40% in November. According to Simon Harry of the Nigerian Bureau of Statistics (NBS), “Inflation has continued its declining trend.” Last month, Finance Minister Zainab Ahmed said the Read More…