Business Headlines

Nigeria records 18.1% worst inflation rate in 4yrs

Ihesiulo Grace 16 April 2021 0

*Food prices pushing inflation upwards-Expert *As Nigeria GDP for 2020 dropped by-1.9% in Q4 BY MOTOLANI OSENI AND PHILIP CLEMENT Official data from the Nigeria Bureau of Statistics (NBS) has shown that the nation’s core inflation increased by 18.17 per cent (year-on-year) in March 2021.

News

COVID-19, borders closure, others jack up inflation in Nigeria

Ihesiulo Grace 16 December 2020 0

By Tunde Shorunke & Philip Clement Consumer Price Index which is largely determined by the country’s rising food prices, rose to 14.89 per cent in November, representing a 0.66 per cent points, higher than the 14.23 per cent recorded in October 2020. The National Bureau of Statistics (NBS) disclosed this in its November inflation report […]

Money

‘Insecurity, prolonged border closure behind inflation hike to 14.23%’

Ihesiulo Grace 17 November 2020 0

By Philip Clement Following inflation increase by 14.23 per cent, year-on-year, in October 2020, a renowned economist, Prof. Uche Uwaleke has said that the prolonged border closure and insecurity has triggered inflation prices across the country. The National Bureau of Statistics (NBS) on Monday said that the Consumer Price Index, (CPI) which measures inflation rose […]

Business

Nigeria’s inflation rate 13.7%, highest in 30 months

Ihesiulo Grace 15 October 2020 0

Nigeria’s inflation rose to 13.7 per cent in September, hitting its highest level since its 13.34 per cent rate of March 2018. The National Bureau of Statistics disclosed this in its Consumer Price Index report for September on Thursday. Part of the report read, “The consumer price index which measures inflation increased by 13.71 per […]

Business News

Bakers in Nigeria plan to increase bread price

Ihesiulo Grace 11 September 2020 0

On Thursday, bakers in Nigeria announced the possibility of increasing the prices of bread on account of rising costs of sugar, flour, fuel and electricity. As gathered by Daily Times, the declaration came the same day the Nigerian government banned forex on all food and fertiliser imports into Nigeria. The Premium Breadmakers Association of Nigeria (PBAN) and […]

Business

Inflation rises to 12.34% in April — NBS

Ihesiulo Grace 21 May 2020 0

 The National Bureau of Statistics (NBS) says the Consumer Price Index (CPI), which measures inflation, increased by 12.34 per cent year-on-year in April 2020. The NBS made this known in its latest CPI and Inflation Report for the month of April released on Thursday. It stated that this figure showed 0.08 per cent points higher […]

Business

Nigeria’s inflation hits 12.13%, highest since April 2018

Ihesiulo Grace 19 February 2020 0

.Nigerians shouldn’t worry, it’s a temporary phenomenon, says Expert For the first time in nearly two years, Nigeria’s inflation has reached an all time high of 12.13 per cent; the latest figure from the National Bureau of Statistics (NBS) has revealed. The Consumer Price Index (CPI) which measures inflation increased by 12.13 per cent year-on-year […]

Politics

‘Zamfara state university project: We noticed over inflation of contract sum’

Ihesiulo Grace 12 February 2020 0

Gusau – The Zamfara State Projects Verification Committee on Tuesday alleged that the immediate past administration of former Gov. Abdul’aziz Yari, spent N3 billion on the ongoing Zamfara State University project. The university project is sited at Yari’s home town, Talata Mafara. The Chairman of the committee, Alhaji Ahmad Zabarma, made the disclosure at the […]

Featured

VAT increment would contribute to inflation rise – Minister of Finance

Ihesiulo Grace 1 February 2020 0

Lagos – Dr Zainab Ahmed, Minister of Finance, Budget and National Planning, on Friday said that Value Added Tax (VAT) increment would contribute to inflation rise, said that it would moderate over time. She further dispelled the report that the Federal Government was planning to borrow N2trillion pension funds for infrastructure development. Ahmed stated this […]

News

Inflation hits 11.85% – NBC

Ihesiulo Grace 17 December 2019 0

National Bureau of Statistics has revealed that the consumer fee index that measures inflation accelerated to 11.85% in November.  According to the inflation report launched on Tuesday, the inflation price multiplied with the aid of 0.24 percentage factors from the 11.61% recorded in October. 

Business

Closure of Seme border: Analysts project hike of inflation rate in September

Ihesiulo Grace 10 October 2019 0

Financial Derivates Company (FDC) Limited has said inflation rate in September may likely to spike to 11.22 per cent, attributable to closure of the Seme border by the federal government to curb inflow of imported rice, others. The company in its report noted that the increase in inflation rate is coming after three months of […]

Business Headlines News

Inflation declines to 14.33 %, as experts project further slow in Q2

Ihesiulo Grace 15 March 2018 0

Nigeria’s Inflation rate as measured by the Consumer Price Index (CPI) has improved further to 14.33 per cent in February, compared to 15.13 settled in January, but financial experts believed The National Bureau of Statistic (NBS), on Wednesday, said the nation’s inflation slowdown to 14.33 per cent (year-on-year) in February, making it 13th consecutive disinflation […]

Business Headlines

Inflation rate decelerates further, now 14.33%

Ihesiulo Grace 14 March 2018 0

The National Bureau of Statistics (NBS) has published February 2018 inflation report, showing that Nigeria’s headline consumer price index extended deceleration (which started in 2017) to the thirteenth consecutive month. Headline inflation was 14.33% y/y in February, moderating from 15.13% y/y in January. The data came in 33 bps and 28 bps below Cordros Capital […]

Business Money

2018 outlook: Experts project 12.9% inflation rate in 2018

Ihesiulo Grace 18 January 2018 0

Following the latest report by the National Bureau of Statistics (NBS) that the Nigeria’s annual inflation has slowed for the 11th consecutive period in December, analysts at CardinalStone Research have predicted improved rate of 12.9 per cent by end of December 2018. The new statistic report showed that the rate eased to 15.37 per cent […]

Business Money

Inflation slows for 10th consecutive period, eases to 15.90%

Ihesiulo Grace 19 December 2017 0

The Nigeria’s annual inflation has slowed for the 10th consecutive period in November, easing to 15.90 per cent against15.91 per cent recorded in October 2017, the new report by the National Bureau of Statistics (NBS) on Monday has revealed. The new food price index showed inflation at 20.30 per cent in November, compared to 20.31 […]

Business News

Inflation drops to 15.91 in October – NBS

Ihesiulo Grace 15 November 2017 0

The Consumer Price Index (CPI) which measures inflation increased by 15.91 percent (year-on-year) in October 2017, lower than the rate recorded in September (15.98) percent making it the ninth consecutive disinflation (slowdown in the inflation rate) in headline year on year inflation since January 2017. Data realeased on Wednesday by the National Bureau of Statistics […]

Business Money

Analysts predict further drop in inflation to 15.99%

Ihesiulo Grace 11 October 2017 0

Motolani Oseni A group of analysts at the Financial Derivates Company Limited (FDL), have predicted further drop in inflation to 15.99 per cent. The analysts say that the decline will result from widespread ease in food commodity prices, associated with early harvest. ‘ This is coming on the heels of National Bureau of Statistics’ (NBS’) […]

Business

FG to raise N140bn through bonds auction next week – DMO

Ihesiulo Grace 4 May 2017 0

The federal government through the Debt Management Office (DMO) has announced that it would raise a total of N140 billion through bonds auctions on May 10, next week Wednesday. The debt office will sell 40 billion naira of bonds due in 2021 and 50 billion naira each of bonds due in 2027 and in 2037, […]

Business News Nigeria

TSA, monetary policies stifling growth, FDI – Group tells FG

Ihesiulo Grace 28 February 2017 0

The National Rebirth Group (NRG), has called for a review of certain policies of the Federal Government following rising inflation and dwindling Foreign Direct Investments (FDIs). Representative of the group, Comrade Salisu Mohammed, during a World Press Conference held Thursday in Abuja, said policies of the Federal Government were not helping the already deplorable

News World

UK Inflation Rate Falls To Zero

Ihesiulo Grace 24 March 2015 0

UK inflation rate fell to 0 per cent in February, the lowest since records began, official figures show. According to BBC, lower prices for food and computer goods helped to cut the rate from 0.3 per cent in January, official figures show. February’s figure is the lowest rate of Consumer Prices Index (CPI) inflation since […]