Nigeria’s inflation rate surged to a new high of 33.2 per cent in March 2024, according to data released by the National Bureau of Statistics, NBS, on Monday. This represents a 1.5 percentage point increase from the 31.7 per cent recorded in February 2024. The rise in inflation is being attributed primarily to increasing food and beverage prices, coupled with rising energy and housing costs. Food inflation, a key driver of overall inflation in Nigeria,...

A team from the ECOWAS Commission, led by Mrs. Massandje Toure-Litse, the ECOWAS Commissioner for Economic Affairs and Agriculture, visited the Anambra Central Fish Village located in Adazi Nnukwu, Anaocha Local Government Area of Anambra State. The visit is part of the tour by the ECOWAS team to evaluate significant agro investments that may require assistance that can be given by the Commission, to boost the economic fortunes of the people for its vision of...

Nigerians continue to feel the pinch of President Bola Tinubu’s major decisions – scrapping the petrol subsidy and relaxing foreign exchange restrictions – as inflation climbed more than anticipated to a near 28-year high in January. The National Bureau of Statistics, NBS, says Nigeria’s headline inflation rate increased to 29.90 per cent in January. Last month’s rate is a 0.98 per cent increase from the 28.92 per cent recorded in December 2023. Tinubu’s policies caused...