Browsing Tag
Inflation
33 posts
OTACCWA Predicts Impending Rice and Tomato Shortages in Nigeria
An agriculture expert warns that Nigeria faces looming shortages of rice and tomatoes within three months, driven by rising costs, insecurity, and declining production.
Global oil prices reach $100 per barrel amidst Middle East tensions
Oil prices have climbed to $100 per barrel for the first time since May as renewed conflict in the Middle East sparks supply concerns and fuels inflation fears.
CBN Governor Links Low Circulation of N100 and N200 Notes to Digital Shift
Governor Olayemi Cardoso asserts that N100 and N200 notes are still legal tender, attributing their reduced visibility to the expansion of digital payments and the effects of inflation on purchasing power.
UK food costs drop but inflation is projected to rise
Inflation in the UK slowed to 2.6% in June due to lower fuel and food costs, though experts anticipate a rebound as energy prices climb.
Central Bank of Nigeria keeps interest rate at 26.5% amid geopolitical concerns
The CBN has held its benchmark interest rate at 26.5% citing global risks linked to Middle East tensions, while reporting that external reserves have grown to $52.5 billion.
Nigeria Foreign Exchange Reserves Reach $52 Billion, CBN Governor Reports
Central Bank Governor Yemi Cardoso announced that Nigeria's foreign exchange reserves have hit $52.52 billion, even as the MPC keeps interest rates at 26.5 percent.
Atiku Criticizes Tinubu Economic Strategy, Citing Import Reliance as Job-Killer
Atiku Abubakar has blamed the current economic distress in Nigeria on an over-reliance on imports and taxes, advocating for a shift toward local manufacturing and domestic food production.
The misconception that Nigerian states are becoming wealthier
Despite receiving higher monthly allocations, Nigerian states are not becoming richer as inflation and rising operational costs erode their purchasing power.
Experts Warn Inflation and Policy Shifts Threaten Economic Gains
Financial analysts report that while Nigeria's stock market is poised for growth in late 2026, rising inflation and inconsistent policies remain significant threats to ongoing economic reforms.
Dele Sobowale: The Myth of Wealthier States Under Current Revenue Allocations
Dele Sobowale argues that higher FAAC allocations do not equate to wealthier states, as runaway inflation and economic mismanagement by the Federal Government have eroded the purchasing power of all government tiers.