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Tag: International Monetary Fund

Why Nigeria must save oil revenues - IMF
Economy

Inflation hits 16.82%, surpasses IMF 2022 projection

The Consumer Price Index rose to 16.82 per cent in April from 15.92 per cent in March, latest figures from the National Bureau of Statistics have revealed. The NBS disclosed this in its ‘Consumer Price Index April 2022’ report on Monday. The report read in part, “In April 2022, the consumer price index, which measures […]

Why Nigeria must save oil revenues - IMF
Economy

Rising crude oil prices will worsen inflation, IMF warns

The International Monetary Fund has said rising oil prices may lead to high inflation and slow growth across the world. It stated that the rising oil prices may echo the 1970s when geopolitical tensions caused fossil fuel prices to spike. It disclosed this in a new report titled, ‘Lower oil reliance insulates world from 1970s-style […]

Why Nigeria must save oil revenues - IMF
Economy

Nigeria’s inflation may worsen to 16.1% in 2022 – IMF

The International Monetary Fund has projected that Nigeria’s Consumer Price Index will hit 16.1 per cent in 2022. This projection was presented in a tabular illustration in the IMF’s Regional Economic Outlook for Sub-Saharan Africa released last week, which was published on its website. The projected 16.1 per cent will be the highest in the […]

Economy

High food prices’ll continue in Nigeria, others till 2023 –IMF

The International Monetary Fund says the impact of the war in Ukraine is likely to sustain pressure on commodity prices, affecting oil and gas prices severely in 2022 and food prices well into 2023 in Nigeria and other countries of the world. The Washington-based lender disclosed this in its ‘World Economic Outlook: War Sets Back […]

Why Nigeria must save oil revenues - IMF
Energy

Fear of corruption hampering subsidy removal in Nigeria -IMF

The International Monetary Fund says the fear of political resistance, widespread corruption and pressure from interested groups is hampering the removal of the fuel subsidy in Nigeria. The IMF said this in its ‘Nigeria: Selected Issues Paper’ report, which was prepared by a staff team of the Fund as background documentation for its periodic consultation […]

Economy

Russia-Ukraine: Higher food prices may cause unrest in Nigeria -IMF

The International Monetary Fund has said higher food prices as a result of the Russia-Ukraine war might cause unrest in Nigeria, other Sub-Saharan Africa countries, Latin America, the Caucasus, and Central Asia. It added that food insecurity is likely to increase in parts of Africa and the Middle East. It disclosed this in a blogpost […]