Inflation
Zenith Bank to Implement Salary Increment Amidst Rising Inflation
Zenith Bank, one of Nigeria’s major financial institutions, plans to raise employee salaries starting in January to combat the impact of soaring inflation on its workforce. Sources within the bank have disclosed to Nairametrics that management is preparing for … Continue Reading
Nigeria’s 10 Most Expensive States To Live In for December 2024
Nigeria’s Inflation Rate Rises to 34.80% Amid Economic Challenges
The National Bureau of Statistics (NBS) has reported that Nigeria’s inflation rate climbed to 34.80% in December 2024, up from 34.60% in November. This marginal increase of 0.20% is mainly attributed … Continue Reading
Nigerians Struggle to Repay N4.05 Trillion in Loans
Nigerians repaid an eye-watering N4.05 trillion in personal loans during the second quarter of 2024, marking a significant shift in consumer behavior as the country grapples with rising interest rates and mounting economic pressures.
According to the Central Bank of … Continue Reading
Higgledy-Piggledy Naira Drops to N1,615 Per Dollar
The Nigerian Naira’s freefall against the US Dollar has intensified economic uncertainty, as it now trades at an alarming ₦1,610 to ₦1,615 on the black market, as of November 4, 2024.
The Central Bank of Nigeria (CBN) released new exchange … Continue Reading
‘We Are Making Progress on Economic Recovery’ – President Bola Tinubu
In a recent address, President Bola Ahmed Tinubu expressed confidence in Nigeria’s ongoing economic recovery, emphasizing the significant strides his administration has made since taking office on May 29, 2023.
Despite the persistent challenges of rising inflation and public dissatisfaction, … Continue Reading
Eniola Badmus Hails Tinubu’s Economic Magic Shift: N14 Trillion Trade Surplus Amidst Rising Inflation
Nollywood actress Eniola Badmus has consistently shown strong support for President Bola Ahmed Tinubu, starting well before his election.
Lagos, Nigeria- Her praise for Tinubu’s economic policies came to the forefront when she highlighted what she saw as significant progress … Continue Reading
Central Bank Governor Attributes Galloping Food Inflation to Government Palliatives
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has pointed to government purchases of foodstuffs as palliatives as a significant factor contributing to the rapid rise in food inflation within the country.
During the March Monetary Policy … Continue Reading
Inflation in Nigeria Surges to 31.70% record high in February 2024
Inflation continue to plague Nigeria as the latest data from the National Bureau of Statistics (NBS) reveals a disconcerting upward trend. The headline inflation rate surged to 31.70% in February 2024, marking a notable increase from January 2024’s rate of … Continue Reading
Minister of Finance Attributes Rising Inflation to N22.7 Trillion Printing by CBN
The Minister of Finance, Olawale Edun, has attributed the current economic challenges facing Nigeria, including rising inflation and economic hardship, to the printing of N22.7 trillion by the Central Bank of Nigeria (CBN) under the government of former President … Continue Reading