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Tag: Inflation

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 […]

Bankers oppose removal of retained earnings in CBN terms
Finance

CBN projects 2026 disinflation, possible rate cuts

Nigerian central bank Governor Olayemi Cardoso has hinted that the apex bank could resume interest-rate cuts next year, provided inflation continues to cool as expected. “Our models project continued disinflation in 2026, helped by stronger domestic production, improved foreign exchange liquidity, and more disciplined liquidity management,” he told an annual banker’s dinner in Lagos on […]

Opinion

Nigeria’s inflation could fall to 14% by 2026 – Afreximbank

The Group Chief Economist and Managing Director of Afreximbank, Yemi Kale, has suggested that if Nigeria maintains the trajectory of its ongoing reforms, inflation could drop to approximately 14 per cent by the end of 2026. This optimism comes as the National Bureau of Statistics reported that Nigeria’s headline inflation had already eased to 20.12 […]

Policy and Regulations

Proposed tax stamp system could worsen inflation, MAN warns

The Manufacturers Association of Nigeria has expressed concerns that the proposed introduction of a Tax Stamp System for excisable goods could worsen inflation, erode consumer demand, and weaken Nigeria’s competitiveness under the African Continental Free Trade Area. According to MAN, the extra compliance costs from tax stamps would inevitably be passed on to consumers, many […]

Economy

NECA applauds decline in inflation rate, urges policy shift

The Nigeria Employers’ Consultative Association has applauded the steady decline in Nigeria’s inflation rate, which has moderated for five consecutive months. According to the National Bureau of Statistics Consumer Price Index report, headline inflation eased to 20.12 per cent in August 2025, down from 21.88 per cent in July. NECA’s Director-General, Adewale-Smatt Oyerinde, stated that […]

Opinion

Nigeria’s inflation to drop 17% by year-end- IMPI

The Independent Media and Policy Initiative forecasts that Nigeria’s inflation rate will drop to 17 per cent by December 2025, driven by continued disinflation. According to IMPI Chairman Dr. Omoniyi Akinsiju, Nigeria recorded a rare disinflation in 2025, with inflation falling from 24.5 per cent in January to 20.12 per cent in August, representing a […]

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