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Nigeria: Food Inflation At Crisis Point, Reaches 11-Year High
Premium Times, 17 February 2021
The rise is a sombre illustration of the crisis the nation's food sector has faced, with millions of poor citizens struggling daily to buy food at exorbitant rates. Read more »
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Nigeria: Food Inflation Rises 20.6% As Price Increases Persist
Vanguard, 17 February 2021
Increases in the prices of basic food items continued for the 17th consecutive month, prompting the Food inflation to hit 20.6 per cent in January, the highest since September… Read more »
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Nigeria: Food Prices Highest in Kogi, Oyo, Lagos, Rivers in January - NBS
Premium Times, 16 February 2021
Ondo at 17.20 per cent , Abuja at 16.73 per cent and Bauchi at 16.37 per cent recorded the slowest price rise. Read more »
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Nigeria: Inflation Jumps to 16.47%, Highest Point Since 2017
Vanguard, 16 February 2021
The Nigeria consumer price index, which measures the rate of increase in the price of goods and services, increased to 16.47 per cent in January. Read more »
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Nigeria: Nigeria Inflation Hits 16.47%
Premium Times, 16 February 2021
This is the country's highest inflation in 33 months. Read more »
Nigeria's Food Inflation At Crisis Point, Reaches 11-Year High
In January 2021, the country's food inflation rose to its highest level since 2008, making it the highest in over 11 years. Analysts blame the rise on the Covid-19 pandemic, dollar shortages, and lingering restrictions on imports of certain food items despite the re-opening of the borders. Another factor is the incessant attacks on farmers, which has caused shortages of goods. Nigeria is facing its second recession in five years, triggered by a crash in oil prices that has hammered state revenue, creating large financing needs and weakening the naira currency. The International Monetary Fund is urging Nigeria to phase out the central bank's financing of the government deficit to reduce inflation.
InFocus
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Although Nigeria is Africa's leading economy, it has come through a bruising 2020. The country slipped quietly into a recession, mainly due to the falling oil price and the lack Read more »
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Nigeria's inflation rate has climbed to a 30-month high, to 14.23% in October, according to the latest figures by the National Bureau of Statistics. The country's inflation ... Read more »
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President Muhammadu Buhari has said the country must do all it can to "avert a second wave of Covid-19 because the economy is too fragile to bear another lockdown". In a tweet, ... Read more »
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The soaring cost of food and other necessities has impacted Nigerians as the economy slumps into recession. Measures taken to deal with the novel coronavirus have crippled economic ... Read more »
