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Inflation in Nigeria

Calls For Interest Rate Cut Intensify As Inflation Records Further Decline

September 17, 2025

Ahead of the Central Bank of Nigeria’s Monetary Policy Committee (MPC) meeting next week, calls for the CBN to cut the interest rate have intensified. In a notice published on its website,

CardinalStone Predicts Nigeria's Inflation To Continue Declining In August

Finance & Economy

Nigeria’s inflation Eases For Fifth Consecutive Time

September 15, 2025

Nigeria’s headline inflation rate dropped to 20.12 per cent in August from 21.88 per cent in July 2025, marking the fifth consecutive month of decline since April. This was revealed in the

Finance & Economy

Survey: 65.8% Respondents Want Interest Rate Cut As CBN Holds MPC Meeting

July 21, 2025

A survey conducted by the Central Bank of Nigeria (CBN) revealed that 65.8 per cent of respondents want the monetary authority to lower interest rates. According to the CBN’s Inflation Expectations Survey,

Business News·Finance & Economy

Currency In Circulation Hits N5.01trn As 91.2% Of Cash Remains Outside Banks

June 2, 2025

Currency in circulation (CIC) in Nigeria rose marginally by 0.24 per cent from N5.003 trillion in March to N5.015 trillion in April 2025. The increase reflects a continued build-up of liquidity in

Business News

‘CBN’s Interest Rate Remains High, Choking Businesses’

May 24, 2025

The Central Bank of Nigeria’s (CBN) decision to retain the current monetary policy parameters has continued to generate reactions from interest groups and economic analysts. Prime Business Africa had reported that during

Business News·Finance & Economy

CBN Urges Fiscal Authority To Boost Efforts In Forex Earnings From Exports

May 21, 2025

The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) has called on the fiscal authority to strengthen efforts towards enhancing foreign exchange earnings for the country, especially from oil and gas

Business News·FEATURES·Finance & Economy

Inflation: Concerns About CBN’s Monetary Policy Impact As 91% Of Naira Outside Banks

May 19, 2025

As the Central Bank of Nigeria (CBN) holds its 300th Monetary Policy Committee (MPC) meeting on Monday, May 19 and Tuesday, 20 2025, to decide the next step in addressing the challenges

Finance & Economy

10 States With Lowest Cost Of Living In Nigeria

May 16, 2025

Finding affordable states to live in has become essential for low-income earners, families, pensioners, and students as Nigeria continues its journey toward economic recovery in 2025. Some states now provide much lower

Finance & Economy·Opinion

Perspectives On Inflation

March 12, 2025

The Central Bank of Nigeria (CBN) has been making good efforts and using the necessary monetary tools, especially the Monetary Policy Rate (MPR), to fight inflation, and it is anticipated that the

Why CBN Retained Bencmark Interest Rate At 27.5%

Finance & Economy

Why CBN Retained Benchmark Interest Rate At 27.5%

February 21, 2025

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the monetary policy rate (MPR), the benchmark interest rate in the country, at 27.50 percent. This was announced

CPPE Highlights What Must Be Done To Sustain Disinflation In Nigeria

Business News·Finance & Economy

Nigerians, Businesses Need Reduction In Prices Not Just Inflation Rate – Muda Yusuf

February 20, 2025

CEO of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, has stated that what households and businesses in Nigeria need is a drastic reduction in prices not just

Rebasing Nigeria's GDP Inflation and Impact on Economy

Finance & Economy

Rebasing Nigeria’s GDP, Inflation: Any Impact On Economy?

February 2, 2025

The National Bureau of Statistics (NBS), recently announced plans to rebase Nigeria’s Gross Domestic Product (GDP) and the Consumer Price Index (CPI) used to measure inflation rate in the country. The last

What Govt Should Do To Rein In Inflation

Business News·Finance & Economy·News

Inflation Hits 28-Year High Of 34.6% On Food, Energy Costs

December 16, 2024

Nigeria’s headline inflation rate hit 34.60 per cent in November 2024. This indicates an increase of 0.72 per cent points compared to the October 2024 inflation rate which was 33.88 per cent.

Business News·Finance & Economy·News

Nigerian Govt Yet To Address Real Drivers Of Inflation – CPPE

October 16, 2024

The Centre for the Promotion of Private Enterprise (CPPE) has expressed concerns over the surge in inflation rate in Nigeria after dropping for two months despite policy measures to tame it. In

Energy, Exchange Rate, Transportation Top Three Drivers Of Inflation In Nigeria - CBN Survey

Business News·News

71% Of Nigerians Seek Interest Rate Reduction – CBN Survey

October 14, 2024

As worries about inflation and economic hardship mount, at least 71.4% of Nigerians are demanding that interest rates be lowered. The Central Bank of Nigeria (CBN) conducted the Inflation Expectations Survey (IES)

Finance & Economy·News

Expert Highlights 3 Things Nigeria Must Do To Tackle Inflation As Money Supply Hits N107trn

October 2, 2024

There are concerns that the monetary policies being adopted by the authorities have not been effective in tackling high inflation and high money supply in the economy, hence the need to adopt

Finance & Economy·News

Experts Fault CBN’s Interest Rate Hike

September 25, 2024

Economic experts have faulted the continuous increase of the Monetary Policy rate (MPR) also known as benchmark interest rate, by the Central Bank of Nigeria (CBN), saying it won’t solve the problem

Finance & Economy·News

CBN Further Raises Benchmark Interest Rate To 27.25%

September 24, 2024

The Central Bank of Nigeria (CBN) has further increased Monetary Policy Rate (MPR), also known as the benchmark interest rate by 50 basis points to 27.25 per cent. Prime Business Africa reports

FEATURES·Finance & Economy

10 States With Lowest Cost Of Living In Nigeria

September 17, 2024

As Nigeria battles inflationary pressure on the economy and the impact on cost of living, there are states that have relatively lower cost of living than others. Inflation, which is the persistent

Nigeria's Inflation Drops To 24.48% In January

Opinion

Inflation, Policy Dislocation And Nigerian Govt’s 30-day Price Ultimatum To Traders

September 6, 2024

Inflation in Nigeria happens by the second, making life a steadily burning hell for citizens. Unfortunately, government always seems to misunderstand the plight of the people judging from its shallow and emergency-type

Survey: 65.8% Respondents Want Interest Rate Cut As CBN Holds MPC Meeting

Business News

Inflation: How CBN’s New Deposit, Lending Rates Will Affect Liquidity

August 27, 2024

The Central Bank of Nigeria (CBN) has announced changes in its lending and deposit facilities, in a bid to manage liquidity in the nation’s financial system. The CBN lifted the suspension of

Business News·News

Inflation Pressure Hit Nigerian Business Activity, Dropping to 8-Month Low

August 12, 2024

Inflation Triggers Business Decline in Nigeria Nigeria’s business landscape faced a notable setback in July as inflation pressure led to a steep decline in business activity. The latest Purchasing Managers’ Index (PMI)

Nigeria's Inflation Rate Hits 33.88% In October Amid Fresh Fuel Price Spike

Finance & Economy

Food Prices Remain Major Contributor To Nigeria’s High Inflation

June 16, 2024

As Nigeria's inflation rate continues to surge, high food prices has remained a major contributor to it.

Why Increasing Minimum Wage To At Least N100,000 Is Important - Analysts

Business News·News

Minimum Wage Increase: Prepare To Deal with Inflation, Economist Tells FG

June 4, 2024

Chief Economist and Senior Partner at SPM Professionals, Dr Paul Alaje, has stated that given the present economic realities in Nigeria, workers deserve an increase of their minimum wage but the government

Finance & Economy

Top 10 Nigerian States With Highest Cost Of Living As Of April 2024

May 17, 2024

Nigerian has continued to witness high cost of living in recent times as prices of things continue to rise beyond the purchasing power of average citizens.

Finance & Economy

Nigeria’s Inflation Hits 33.69% In April As Costs Of Food, Others Continue To Rise

May 15, 2024

Nigeria’s headline inflation rate increased to 33.69 percent in April 2024, recording a 27-year high. This upward spiral which is for the 18th straight month, reflects a 0.49 per cent increase when

Business News·News

Anambra Residents Lament As Cost Of Things Bite Harder

May 15, 2024

Residents of Anambra State have lamented the persistent rise in costs of things across the country.

Labour Begins Indefinite Strike Monday Over Minimum Wage, Electricity Tariff Hike

Labour·News

Economist Warns About Implications Of Minimum Wage Increase On Inflation

May 3, 2024

As organised labour continues to push for an increase in minimum wage for Nigerian workers, an economist Mr Soni Daniels Ezeanochie, has cautioned against over-reliance on wage hikes as a panacea for

FEATURES·Finance & Economy

More Economic Burdens For Nigerians As Prices Remain High Despite Naira Appreciation

April 16, 2024

The recent appreciation of the naira had given a ray of hope to many Nigerians of possible drop in prices of commodities in the market, especially those ones that affect their daily

Business News·Finance & Economy

Experts Differ On Impact Of CBN’s Interest Rate Hike On Inflation

March 28, 2024

The recent monetary policy tightening measure adopted by the Central Bank of Nigeria (CBN) has continued to generate reactions as economic experts express divergent views about the impact on soaring inflation.

$500m World Bank Loan: LCCI Highlights How Nigeria Can Reduce External Borrowing

Business News·News

Nigeria’s Forex Crisis Rooted In Weak Industrial Capacity – LCCI

Gabriel Idahosa, President of the Lagos Chamber of Commerce and Industry, revealed that Nigeria’s prolonged foreign exchange crisis stems from its feeble industrial capacity. Idahosa emphasized the absence of a determined will to embark on an industrial revolution capable of revitalizing the

February 2, 2024

Nigeria Week Ahead: Inflation, Naira and Oil In Focus

Finance & Economy

Experts Urge Nigerian Govt To Adopt Multi-sectoral Approach In Tackling Inflation

Economic experts have called on authorities to adopt a multi-sectoral approach in tackling high inflation in Nigeria.

January 16, 2024

Business News

Blame Naira Depreciation For Nigeria’s Highest Inflation In 21 Years – Experts

Nigeria grapples with a daunting economic challenge as inflation hits a 28.92% in December 2023, marking the highest in 21 years, according to data from the National Bureau of Statistics.

January 16, 2024

Business News·Finance & Economy

Nigerians Grapple With Soaring Living Costs, Borrow N740bn Amidst Inflation Surge

Nigerians have borrowed approximately N740 billion from banks between January and September this year, according to the Central Bank of Nigeria's quarterly economic reports.

December 29, 2023

Business News·Finance & Economy·News

Tilewa Adebajo Calls For Diversifying Revenue Base To Tackle Nigeria’s Inflation

Tilewa Adebajo, the Chief Executive Officer of CFG Advisory, stressed the necessity for Nigeria to broaden its revenue streams in order to combat the prevailing inflation challenge. Adebajo emphasized the urgency of diversification to bolster the government’s financial capacity and foster economic

November 17, 2023

FEATURES·Finance & Economy

What Govt Should Do To Rein In Inflation

The surging inflation rate in Nigeria has been a source of worry to stakeholders given the impact on the economy and the citizens who bear the brunt of skyrocketing costs of things. The National Bureau of Statistics on Wednesday released its report

November 16, 2023

Business News·Finance & Economy·News

KPMG Predicts Nigeria’s Inflation To Soar At 30% By December 2023 Amidst Economic Reforms

Global financial advisory service firm, KPMG, has predicted that Nigeria’s headline inflation is poised to skyrocket to 30% by the end of 2023. The West African nation, already grappling with a headline inflation rate of 26.72% in September, is facing a challenging

November 12, 2023

CBN Reforms Yielding Positive Returns As FX Transactions Surge To $800m, CBN Gov Assert

Business News·News

Cardoso States His Focus As Sanusi Reminds Him Of CBN’s Massive Impact On Nigerians

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, at the weekend reiterated that the apex bank under his leadership, would concentrate mainly on the core mandate of price stability by curtailing inflation. Prime Business Africa reports that since

November 5, 2023

Business News·News

Stears Predicts 30% Inflation Rate

Stears, the data-driven insights provider, has predicted a potential 30% inflation rate by December 2023 in Nigeria.

October 27, 2023

Business News

US Inflation Peaks At 3.7% In September, Sparking Debate On Interest Rates

An economic report has indicated that consumer prices in the US maintained their upward trajectory in September, primarily driven by surging housing and petrol costs, keeping inflation at a steady 3.7% for both August and September. The Federal Reserve is now deliberating

October 13, 2023

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