Nigeria’s Headline inflation rate climbed to 34.80% in December 2024, according to a report by the National Bureau of Statistics (NBS) on Wednesday. The headline inflation is slightly higher than the 34.60% recorded in November. The 0.20% increase was attributed to heightened demand for goods and services during the festive season. Compared to December 2023,…
The federal government has unveiled its strategy to reduce inflation from the current 34 percent in 2024 to a targeted 15 percent by the end of 2025. This was disclosed by a source at the Budget Office of the Federation deeply involved in the 2025 budget preparations. The source identified four key measures embedded in…
Nigeria’s annual inflation rate rose to 34.60 per cent in November from 33.88 per cent in October, the National Bureau of Statistics (NBS) said on Monday. This marks a continuation of the upward trend observed from September, when the nation recorded a reversal of a two-month decline. The statistics office said the November 2024…
President Bola Tinubu is confident of an economic rebound and is asking Nigerians to keep faith in his administration’s reforms. Inflation levels in Nigeria have reached new highs, pushing the cost of basic commodities beyond millions of persons in Africa’s most populous nation. But at the graduation ceremony for the Executive Intelligence Management Course 17…
Nigeria’s inflation rate has risen to 33.88% in October 2024, up from 32.7% in September 2024. According to the latest report from the National Bureau of Statistics (NBS) on the Consumer Price Index (CPI), this rise in inflation is mainly due to higher costs in transportation and food prices. Examining the inflation rate compared to…
Nigeria’s headline inflation rate eased to 32.15% in August 2024 down from the 33.40% recorded in July 2024, reflecting a decrease of 1.25 percentage points. This represents the second consecutive monthly slowdown in inflation after easing in the previous month. This is according to the Consumer Price Index (CPI) report published by the National Bureau…
Nigeria’s annual inflation rate eased for the first time in five months after a persistent rise. Inflation rate eased to 33.40 per cent in July 2024 compared to 34.19 per cent in June, the National Bureau of Statistics (NBS) announced Thursday. According to the NBS, the July headline inflation rate showed a decrease of 0.8…