inflation
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The Musings with Duke of Shomolu
The Psychology of this Inflation
The last figures I saw, inflation, especially food inflation, was inching close to the 40% mark and other headline inflation was averaging out in their late 30s I’m wondering why nobody is talking about recession. Things weren’t this bad during Buhari’s time when we gleefully announced that we had gone into a recession. The economy today is flat. The main…
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economy
Inflation: CPPE urges FCCPC to desist from price control mindset
The Centre for the Promotion of Private Enterprises (CPPE) has urged the Federal Competition and Consumer Protection Commission (FCCPC) not to adopt a price control mindset in a bid to tackle inflationary pressures. CPPE Founder, Dr Muda Yusuf, gave the advice in a statement on Sunday in Lagos. Yusuf expressed concerns over the approach, methodology and recent threats by the…
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economy
Experts seek food import policy implementation to check inflation
Some experts have called for the full implementation of the zero duty on imported food produce and local production of refined petroleum products to check Nigeria’s inflation rate. They said this in separate interviews with the News Agency of Nigeria (NAN) on Sunday in Lagos. Prof. Bright Eregha, Lecturer of Economics, Pan Atlantic University, described the zero duty on imported…
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Agriculture
Farmers laud drop in food inflation, seek sustainability Â
Local farmers have lauded the drop in July food inflation recently released by Nigeria Bureau of Statistics (NBS), while seeking its sustainability. The farmers said this in separate interviews with the News Agency of Nigeria NAN in Lagos. The Southwest Chairman of the All Farmers Association of Nigeria (AFAN), Mr Femi Oke, said the palliatives of the Federal Government to…
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economy
Inflation: LCCI urges govt. to sustain ease of doing business
The Lagos Chamber of Commerce and Industry (LCCI) has urged government to sustain all cost reliefs initiated to reduce the cost of doing business in Nigeria. Dr Chinyere Almona, Director-General, LCCI, gave the advice in a statement while reacting to the July inflation figure on Friday in Lagos. The News Agency of Nigeria (NAN) reports that Nigeria’s inflation moderated to…
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economy
Nigeria’s inflation rate declines to 33.40% in July- NBS
Nigeria’s headline inflation rate declined to 33.40 per cent in July, says the National Bureau of Statistics (NBS). This is contained in the NBS Consumer Price Index (CPI) and Inflation Report for July, which was released on Thursday in Abuja. The figure is 0.8 per cent points lower than 34.19 per cent recorded in June. On a year-on-year basis, the…
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Agriculture
FG sets up joint committee on food security, inflation
The Federal Government says it has set up Agriculture and Water Resources Joint Action Committee to harness the resources of both ministries in addressing the challenges of food security and inflation. The Minister of State for Agriculture, Sen. Aliyu Abdullahi, disclosed this at the National Youth Convention on Thursday in Abuja. The convention was organised by the Nigerian Women for…
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economy
Yusuf engages business community to combat post-curfew inflation
Gov. Abba Yusuf of Kano State has convened an interactive meeting with the business community to find ways to tackle  inflation that followed the relaxation of the 24-hour curfew imposed on the state. This is contained in a statement by Sanusi  Dawakin-Tofa, Director-General, Media and Publicity to the governor  on Thursday in Kano. Yusuf said that within hours of relaxing…
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Agriculture
Food inflation: Uwaleke urges FG to partner commodity exchanges
Prof. Uche Uwaleke, the President of Capital Market Academics of Nigeria, has urged the Federal Government to engage existing commodity exchanges to achieve food security within the shortest possible period. Uwaleke made the suggestion in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos while reacting to the June 2024 inflation figure. According to the National…
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economy
Nigeria’s inflation hits 34.19 in June -NBS
The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate increased to 34.19 per cent in June 2024. The NBS said this in its Consumer Price Index (CPI) and Inflation Report for June, which was released in Abuja on Monday. According to the report, the figure is 0.24 per cent points higher compared to the 33.95 per cent recorded…
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Featured
Inflation: FG donates over 700 metric tonnes of grains to Ekiti
The Federal Government has released over 700 metric tonnes of grains to Ekiti as part of measures to mitigate the effects of astronomic increase in the prices of food commodities. The state Deputy Governor, Mrs Monisade Afuye, said this during the handing over of the grains by National Emergency Management (NEMA) on Thursday in Ado-Ekiti. Afuye, who received the items…
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Agriculture
Experts seek introduction of commodity board to control inflation
Some experts in the economic sector have advocated for the introduction of commodity board to check soaring inflation of food prices in the country. The experts including economists, academics and farmers said this in seperate interviews with the News Agency of Nigeria (NAN) in Bauchi, Dutse and Gombe. They said the measure was imperative to control inflation and enhance food…
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Featured
Inflation: Industrialist appeals to FG to save small-scale industries
Dr Khamis Badmus, the Chairman of Tuns Farms in Osun, has appealed to President Bola Tinubu to fast track policies that would control the high inflation in the country. Badmus, who is also the Asiwaju Musulumi of Yoruba, Edo and Delta; made the appeal while speaking with newsmen on monday in Osogbo. According to him, small scale business are currently…
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economy
Nigeria’s inflation rate hits 33.95% in May -NBS
The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate increased to 33.95 per cent in May 2024. The NBS said this in its Consumer Price Index (CPI) and Inflation Report for May, which was released on Saturday in Abuja According to the report, the figure is 0.26 per cent points higher compared to the 33.69 per cent recorded…
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Featured
Former CIBN president, others suggest ways to tackle inflation
Some business owners have urged the Federal Government to adopt measures that would check food smuggling and improve foreign exchange liquidity to mitigate inflation. They expressed their views in interviews with the News Agency of Nigeria (NAN) on Wednesday in Lagos. Mr Nnemeka Ifenkwe, Senior Manager at Nissi Agro and Allied Services, called on the Federal Government  to improve its…
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economy
Nigeria’s inflation rate hits 33.69% in April-NBS
Inflation By Okeoghene Akubuike Abuja, May 15, 2024 (NAN) The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate increased to 33.69 per cent in April 2024. The NBS said this in its Consumer Price Index (CPI) and Inflation Report for April, which was released in Abuja on Wednesday. According to the report, the figure is 0.49 per…
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economy
Abuja housewives decry high cost of living
Some housewives in the Federal Capital Territory (FCT) have decried the high cost of living in the territory and Nigeria in general. They told the News Agency of Nigeria (NAN) on Sunday that it was becoming almost impossible for them to feed and care for their families. They said there was a need for an urgent intervention by the federal…
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