Posts Tagged ‘Inflation’

Again, Nigeria’s Inflation Rises, Moves From 12.20% To 12.26%

Inflation rate in Nigeria rose from the 12.20 percent recorded in February, 2020 to 12.26 percent in March. A document released by the National Bureau of Statistics (NBS) showed that it is 0.06 percent points higher than the rate recorded in previous month. According to the NBS: “The lock down in Abuja, Lagos and Ogun […]

NBS: Inflation rises to 12.13% in January

The National Bureau of Statistics (NBS) says the Consumer Price Index (CPI) which measures inflation increased by 12.13 per cent year-on-year in January 2020. The NBS made this known in its report on Inflation released on Tuesday. It stated that this increase was 0.15 per cent points higher than the rate recorded in December 2019, […]

Nigeria needs a competent customs and immigration service, not border closure

About two months ago, the Nigerian government announced the closure of the country’s land borders to all goods. According to the country’s Comptroller-General of the Customs Service, Hameed Ali, this was done to stem the influx of smuggled goods, especially rice and tomatoes, into the country. The border closure is an economic aberration as most […]

ECONOMY: Inflation rises to 11.37% in April, says @nigerianstat

National Bureau of Statistics (NBS) said that inflation rate has increased to 11.37 per cent (year-on-year) in April 2019 as against 11.25 per cent in March. The bureau, in a statement obtained in its website, said that the increase is 0.12 per cent higher than the rate recorded in March. It also noted that increases […]

Nigeria’s Inflation rate drops from 17.24 % to 16.25%

Inflation rate in Nigeria eased further in the month of May to 16.25 percent from 17.24 percent in April 2017, Business Post reports. Data released on Thursday by the National Bureau of Statistics (NBS) revealed that the drop was by 0.99 percent during the period. It is also the fourth consecutive time the inflation rate […]

INFLATION | Nigeria in uncharted territory

The NBS on Monday released new data showing that the Consumer Price Index, a measure of inflation, rose to a 94-month high of 18.3 percent in October. The 18.3 percent inflation rate, which is about 0.48 percent higher than the 17.9 percent recorded in September, is the highest since January 2009 when the NBS started […]