By JOY ADARA, Abuja- Nigeria’s headline inflation rate has further eased to 22.97% in May 2025, representing a 0.74% decline from the 23.71% recorded in April 2025, according to the latest Consumer Price Index (CPI) and Inflation report released by the National Bureau of Statistics (NBS). On a month-on-month...
inflation
World Bank has cut its global growth forecast for 2025 to 2.3%, citing mounting trade tensions and policy uncertainty, with growth forecasts being cut in nearly 70% of economies across all regions and income groups. According to the bank’s latest Global Economic Prospects report, this slowdown would mark the...
The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate eased to 23.71 per cent in April 2025. The NBS disclosed this in its Consumer Price Index (CPI) and Inflation Report for April 2025, which was released in Abuja on Thursday. According to the report, the headline inflation...
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has said the Federal Government plans to reduce inflation rate to single digit and create more jobs. Edun stated this during a press conference addressed by the Nigerian economic team, as part of activities marking the...
President of the Nigeria Labour Congress (NLC), Mr Joe Ajaero, on Friday bemoaned the effect of inflation on the minimum wage in the country. Ajaero speaking at the first quadrennial delegates conference of the Trade Union Congress (TUC) in Abuja, said it was time the organised labour stood united...
The National Bureau of Statistics (NBS), has said Nigeria’s headline inflation rate rose to 24.23 per cent in March 2025. The NBS disclosed this in its Consumer Price Index (CPI) and Inflation Report for March 2025, which was released in Abuja. According to the report, the headline inflation showed...
Group Managing Director, United Bank for Africa (UBA), Mr Oliver Alawuba, has said Nigeria requires a double-digit Gross Domestic Product (GDP) growth to achieve the projected one-trillion dollar economy target by 2030. Alawuba made this remark on Monday in Abuja, at the ongoing 36th Edition of the Finance Correspondents...
Nigerian consumers can now pay old prices in future despite increase in price, so long as they locked in the price at a time in the past. This is now possible because of a new App called Osusu rolled out by Pack’n’Pay group which enables customers to pay in...
The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate eased to 23.18 per cent in February 2025. The NBS disclosed this in its Consumer Price Index (CPI) and Inflation Report for February 2025, which was released in Abuja on Monday. According to the report, the headline inflation...
The National Bureau of Statistics (NBS), has introduced special inflation indices to its monthly Consumer Price Index (CPI) Report. The Statistician-General (S-G) of the Federation, Adeyemi Adeniran, made this known at a news briefing on the CPI Rebasing Results in Abuja on Tuesday. Adeniran said the new indices include...
Nigeria’s headline inflation has dropped to 24.48 per cent year on year in January 2025. This is a sharp decline from the 34.80 per cent headline inflation recorded in December 2024. This is according to the National Bureau of Statistics (NBS). The Statistician-General of the Federation Adeyemi Adeniran announced...
Donald Trump has pleaded to end inflation, lower costs, secure America’s border, and restore peace through strength as he was sworn in as the 47th president of America. Trump was sworn in as U.S. president after taking the oath of office in the rotunda of the U.S. Capitol building...
Egypt is stepping up diplomatic engagement with African nations as it seeks to bolster security in the strategically vital Horn of Africa and Red Sea region. Ongoing conflicts in the region have sharply cut into Egypt’s crucial Suez Canal revenues. The diplomatic effort comes as Egypt grapples with a...
An economist, Prof. Sherifdeen Tella, has urged the Federal Government to move beyond tackling the structural challenges in the economy to reduce the inflation rate in 2025. Tella, Head of Economics Department, Olabisi Onabanjo University (OOU), said this in an interview with the News Agency of Nigeria (NAN) in...
Nigeria’s headline inflation rate rose to 34.60% in November 2024 from 33.88% in October 2024, the National Bureau of Statistics (NBS) said Monday. The November inflation rate showed an increase of 0.72% points compared to the October 2024 inflation rate, according to NBS’s latest Consumer Price Index (CPI) report...
Statistics South Africa on Wednesday said South Africa’s inflation rate dropped in October to its lowest level since the peak of the COVID pandemic. Statistics South Africa said falling fuel prices were the primary driver of the slowdown in annual inflation to 2.8 per cent from 3.8 per cent...
Subscribers to pay TV services have berated MultiChoice Group for announcing that its Nigerian unit, MultiChoice Nigeria, lost 243,000 subscribers on its Digital Satellite Television (DStv) and GOtv services within six months. The News Agency of Nigeria (NAN) reports that the South African-owned pay-TV operator had, in its Interim...
Vice-President Kashim Shettima has said the Federal Government’s ongoing efforts to strengthen the country’s trade sector is showing promising results, as Nigeria recorded N6.5 trillion trade balance in second quarter of 2024. Shettima, represented by the Secretary to the Government of the Federation (SGF), George Akume, said this at...
The Democratic Front (TDF) has welcomed Fitch Ratings’ projection that Nigeria’s inflation rate would decrease from 33.7 per cent to 26.2 per cent by Q1 2025. The group, in a statement signed on Sunday in Abuja, by Malam Danjuma Mohammed, its Chairman, and Chief Wale Adedayo, Secretary, said the...
The National Bureau of Statistics (NBS) reports that prices of essential food items, including beans, eggs, bread, rice, and tomatoes, experienced significant increases in September 2024. The NBS said this in its Selected Food Prices Watch report for September 2024 released in Abuja on Wednesday. The report said that...