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Tag: Inflation

Economy

Tinubu’s reforms prevented 120% inflation in Nigeria — NRS boss

The Executive Chairman of the Nigeria Revenue Service, Zacch Adedeji, on Tuesday said inflation in Nigeria could have risen as high as 120 per cent without the sweeping economic reforms introduced by the Federal Government. Adedeji stated this in Abuja during the commissioning of the NRS headquarters, noting that the reforms helped to stabilise prices […]

Inflation in Nigeria continues to rise, reaching an all time high almost 30% in annual terms, attributed to rising food cost and the foreign exchange crises.
Economy

Nigeria’s inflation to rise 3.1% over oil shock – World Bank

The World Bank has warned that the ongoing surge in global oil prices could directly add around 3.1 percentage points to Nigeria’s headline inflation, as rising fuel costs ripple through the economy. The bank highlighted the widening gap between locally refined petrol and imported fuel as a key factor driving inflationary pressures in the downstream […]

Economy featured

BREAKING: CBN slashes interest rate to 26.5%

The Monetary Policy Committee of the Central Bank of Nigeria has reduced the benchmark Monetary Policy Rate to 26.5 per cent. This marks the second time the MPC has cut rates under the current leadership of the apex bank. CBN Governor Olayemi Cardoso announced the decision on Tuesday at the conclusion of the committee’s 304th […]

LCCI to launch innovation hub for startups, SMEs in Lagos
Opinion

LCCI describes January inflation drop as temporary easing

The Lagos Chamber of Commerce and Industry has stated that the latest inflation data released by the National Bureau of Statistics indicates a temporary easing of inflationary momentum, not yet a convergence toward a low and stable inflation regime. Recall that NBS, on Monday, reported that Nigeria’s headline inflation rate dropped to 15.1 per cent […]

CBN fines Moniepoint, OPay ₦1bn in regulatory crackdown
Economy

CBN reports slight drop in Nigeria inflation expectations index

Nigeria’s inflation expectations index declined slightly to 41.4 points in January 2026 from 41.7 points in December 2025. This signals a marginal improvement in price sentiment across the economy. The latest Inflation Expectation Survey was released by the Central Bank of Nigeria. The report revealed a modest easing in outlook among respondents. The development reflects […]

Economy

IMF backs Nigeria’s inflation data after CPI overhaul

Nigeria’s inflation outlook received a boost in credibility after the International Monetary Fund endorsed newly revised consumer price data that indicate a significant easing of price pressures. The endorsement follows a comprehensive methodological overhaul of inflation measurement by the National Bureau of Statistics, designed to align Nigeria’s data with international standards. The IMF said the […]

Inflation in Nigeria continues to rise, reaching an all time high almost 30% in annual terms, attributed to rising food cost and the foreign exchange crises.
Economy

Nigerian families spent less in 2024 over price hike – Report

Household consumption in Nigeria contracted sharply in real terms in 2024 as surging prices eroded the purchasing power of millions of families, according to provisional data contained in the Central Bank of Nigeria’s latest statistical bulletin. Figures on Gross Domestic Product by expenditure showed that household final consumption expenditure at 2010 constant purchasers’ prices declined […]

Economy

Tinubu projects stronger economy, lower inflation in 2026

President Bola Tinubu has declared that 2026 will usher Nigeria into a more robust phase of economic growth, with his administration committed to further reducing inflation, strengthening foreign reserves and sustaining the country’s gross domestic product growth trajectory. In his New Year message to Nigerians on Thursday, the President expressed confidence in the collective resolve […]

Economy

CBN sets 16.5% inflation target for 2026

Nigeria’s Central Bank is formally entrenching its transition to an inflation-targeting monetary framework, with the long-term objective of moderating inflation to 13 per cent by the year 2027. These details were outlined in the Central Bank of Nigeria’s 2026 macroeconomic outlook released on Tuesday. The bank also projects that inflation will average around 21 per […]

Economy

Egypt cuts interest rate again as inflation pressures eases

Egypt’s central bank on Thursday reduced its benchmark deposit rate by 100 basis points to 20 per cent, marking the fifth interest-rate cut carried out by the monetary authority this year. The latest reduction highlights growing confidence among policymakers that inflationary pressures are easing after an extended period of tight monetary policy aimed at stabilising […]

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