inflation

Rising Interest Rates Slow Commercial Paper Issuances in Nigeria Key Insights from H2 2024: 1️⃣ Sharp Decline in Issuances: • Commercial paper (CP) issuances have plummeted to N165.8 billion since July 2024, an 83% drop from the N972 billion recorded in the second half of 2023. 2️⃣...

Nigeria’s Inflation Soars to 33.88% Amid Rising Food and Transport Costs Key Details from the NBS CPI Report: 1. Headline Inflation Rate • October 2024: 33.88% • September 2024: 32.7% • Month-on-month increase: 1.18 percentage points • Year-on-year increase...

Rising Fuel Costs and Flooding Threaten to Drive Nigeria’s Inflation Even Higher, Analysts Warn As Nigeria’s October inflation data release approaches, analysts are sounding the alarm that inflationary pressures are set to remain high. Driven by increased fuel prices, currency depreciation, and...

NIGERIA'S INFLATION RATE RISES TO 32.70% IN SEPTEMBER DUE TO PETROL PRICE HIKES In September 2024, Nigeria's inflation rate climbed to 32.70%, up from 32.15% in August, reflecting a 0.55% month-on-month increase, according to the National Bureau of Statistics (NBS). This surge in inflation is...

SEPTEMBER INFLATION SURGE LOOMS AS ANALYSTS EYE RISING PETROL PRICES Overview: As Nigeria braces for the release of official inflation data, economic analysts predict a rise in inflation rates for September, driven by increased petrol prices and foreign exchange market instability. This...

NIGERIAN BANKS FACE RISING COSTS AS WAGE BILLS SURGE AMID INFLATION Summary Breakdown: Significant Wage Growth: Nigerian banks have seen their wage and salary costs nearly double, reaching N615.8 billion in H1 2024, up by 96% from N314.4 billion in H1 2023. This surge is attributed to soaring...

FUEL PRICE HIKES CREATE POLICY DILEMMA FOR CENTRAL BANK'S MPC AMID INFLATION CONCERNS The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) faces a challenging decision as the recent hikes in petrol prices complicate potential monetary policy adjustments. Analysts had expected...

CBN TO HOLD ITS 297TH MONETARY POLICY COMMITTEE (MPC) MEETING ON SEPTEMBER 23 AND 24, 2024. Key Details: 1. Event: The Central Bank of Nigeria (CBN) will hold its 297th Monetary Policy Committee (MPC) meeting on September 23 and 24, 2024. 2. Location & Time: The meeting will take place at the...

NIGERIA’s INFLATION RATE EASES AGAIN IN AUGUST TO 32.15% Previous Rate: The rate was 33.40% in July 2024. 2. Food Inflation: Food Inflation Rate: Recorded at 37.52% in August 2024. Previous Rate: Was 39.53% in July 2024. 3. Inflation Indicators: Purpose: Inflation indicators compare the...

ANALYSTS PROJECT SLOWDOWN IN NIGERIA'S INFLATION RATE 1. Inflation Rate Projection: - Current Status: Inflation in Nigeria is projected to slow down in July 2024 compared to June, when it stood at 34.19%. - Upcoming Data: The National Bureau of Statistics (NBS) is expected to release the...

BREAKING: The Central Bank of Nigeria (CBN) has again raised the Monetary Policy Rate (MPR), which measures interest rates by 50 basis points, from 26.25% to 26.75% amid soaring inflation and skyrocketing food prices.

INFLATION: OPS OPPOSES FRESH INTEREST RATE HIKE AS MPC MEETS TODAY 1. Overview: - The Organised Private Sector (OPS) has expressed opposition to any increase in interest rates as the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) meets in Abuja. 2. Previous Interest Rate...

NIGERIA'S INFLATION RATE INCREASES TO 34.19% AS FOOD PRICES CONTINUE TO RISE Nigeria's annual inflation rate rose to 34.19 percent in June 2024, up from 33.95 percent in May, driven by increasing food prices. The National Bureau of Statistics (NBS) reported that this figure is 0.24 percent...

Man laments outrageous drug prices at a Lekki Pharmacy A married Nigerian man laments the increase in the prices of drugs in Nigeria after his recent encounter at a Lekki Pharmacy. He wanted to get some painkillers and cough syrup for his daughter and the pharmacist told him that everything...