Why December inflation rate shot up – Economists

January 19, 2022 Segun Odunewu 0

Some economists have said the recent spike in inflation rate after months of consistent decline may have been triggered by the higher-than-expected household consumption during the Christmas festivities. The National Bureau of Statistics released Nigeria’s inflation figures for the month of December 2021 on Monday, which to the surprise of many analysts, was an uptick compared to the previous month Read More

NAWOJ tasks FG on security, inflation

November 21, 2021 Blueprint 0

The Nigeria Association of Women Journalists (NAWOJ), FCT chapter, has tasked the federal government on security of lives and property within the FCT and other parts of the country. The women journalists also want government to mitigate the ever increasing inflation of cost of goods and services in the country. This was contained in a communique by NAWOJ FCT at Read More

Breaking: In Nigeria, inflation soars by 15.99% – NBS

November 15, 2021 Benjamin Umuteme 0

The Consumer Price Index, (CPI) which measures inflation increased by 15.99 percent (year-on-year) in October 2021.  According to the National Bureau of Statistics (NBS) in its October inflation report stated that it is 1.76 percent points higher than the rate recorded in October 2020 (14.23) percent. Increases were recorded in all COICOP divisions that yielded the Headline index. On month-on-month Read More

Surging prices: Between minimum wage and taming inflation

November 15, 2021 Jerry Uwah 0

Senior Staff Association of Statutory Corporations and Government Owned Companies (SSASCGOC) is deeply troubled by the way inflation depletes the new minimum wage and forces workers to raise loans to feed their families. “CWC in session is alarmed at the rising cost of living in the country that has made minced meat of the National Minimum Wage, which some states Read More

Mystery, as WEO sees growth in Nigeria with more imports than exports

October 18, 2021 Blessing Anaro 0

Analysts say its a mystery that the World Economic Outlook (WEO) says Nigeria has reasons to outgrow their initial forecast, alongside some countries in the Sub-Saharan Africa (SSA), even when the sub region exports fall behind its imports. Bismarck Rewane, Chief Operating Officer (COO) of Financial Derivatives Company (FDC) Limited, for instance wondered why inflation is on the rise globally, Read More

MPC may increase benchmark rate with inflation poised to halt slide – Rewane

October 13, 2021 Blessing Anaro 0

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), analysts are certain will increase the benchmark rate, otherwise known as the Monetary Policy Rate (MPR) when it meets next in November. This is because, survey by analysts indicates that inflation which has declined six consecutive times will look up north September. Since March 2021, Nigeria’s inflation rate Read More

Nigeria’s loss of N557bn to contract inflation

October 7, 2021 Blueprint 0

The revelation by Paradigm Leadership Support Initiative (PLSI) last week that the federal government has lost N557 billion between 2013 and 2017 to infractions relating to award of contracts, unremitted advances to staff, contract inflation, among others, is not only deplorable but is also condemnable. The lead Researcher, Mr Osonuga Adedeji, made the revelation during PLSI’s 5th anniversary and launch of Read More

Inflation slowing to 16.7% in September on high base-year effect-Analysts

September 20, 2021 Blessing Anaro 0

The year-on-year (y/y) headline inflation rate is expected to further moderate in September to 16.7 per cent on high base-year effect, said Analysts at Afrinvest. “We see the pressure on the month-on-month (m/m) index being sustained in the near term, in reflection of the high cost of energy commodities (especially PMS), imported inflation, and exchange rate pressure amongst others. Meanwhile, Read More