By Jemimah Wellington, JKNewsMedia Correspondent EFFORTS TO reduce inflation to a single digit range have been outlined by the Central Bank of Nigeria (CBN) as part of a medium-term objective tied to a transition toward an inflation targeting monetary policy framework. JKNewsMedia.com reports that the position was disclosed in a statement iss...
HEADLINE INFLATION rate in Nigeria slowed to 20.12 per cent in August 2025, down from 21.88 per cent in July 2025, according to the latest data released by the National Bureau of Statistics (NBS). The report showed that inflation eased by 1.76 percentage points month-on-month, offering some relief after months of elevated price pressures. Mont...
By Jemimah Wellington, JKNewsMedia Correspondent THE CENTRAL Bank of Nigeria (CBN) has announced it will sustain its monetary tightening stance to safeguard stability in the financial system, Governor Olayemi Cardoso has confirmed. Speaking at a fireside chat during the European Business Chamber (Eurocham Nigeria) C-Level Forum, moderated by ...
By Jemimah Wellington, JKNewsMedia Correspondent HEADLINE INFLATION slowed in June as energy prices dipped and foreign exchange rates steadied, according to the Central Bank of Nigeria (CBN). The bank’s governor, Yemi Cardoso, announced the development on Tuesday while presenting the communiqué from the Monetary Policy Committee’s (MPC) 301st...
By Jemimah Wellington, JKNewsMedia Reporter HEADLINE INFLATION slowed to 22.97 per cent in May 2025, reflecting a 0.74 percentage point decline from the 23.71 per cent recorded in April, according to data released by the National Bureau of Statistics (NBS). Month-on-month, the inflation rate dipped to 1.53 per cent, lower than April’s 1.86 pe...
By Jemimah Wellington, JKNewsMedia Reporter THE CONTINUED rising cost of living in Nigeria has prompted the Organised Labour to push for an annual review of the ₦70,000 minimum wage to reflect inflation. Labour unions argue that workers’ earnings should align with economic realities rather than waiting years for adjustments. Festus Osif...
By Jemimah Wellington, JKNewsMedia Reporter NIGERIA’s inflation rate, currently at 34%, could drop to 15% by 2025 if President Bola Tinubu’s ambitious plans succeed. Speaking during his first media chat in Lagos, Tinubu revealed targeted measures to stabilise the economy and spur growth, including boosting local production, improving farming s...
By Jemimah Wellington, JKNewsMedia Reporter NIGERIA’s HEADLINE inflation rate surged to 33.88% in October 2024, up from 32.7% in September, reflecting a 1.18 percentage point increase month-on-month. The National Bureau of Statistics (NBS) in its latest Consumer Price Index (CPI) report attributed the rise to higher transportation costs and in...
By Jemimah Wellington, JKNewsMedia Reporter PRESIDENT BOLA Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, announced a significant decline in food prices. Onanuga pointed to a noticeable reduction in the costs of yam and tomatoes, reflecting a positive trend in food inflation. He shared the information on X, highlight...
By Joke Kujenya NIGERIA’S INFLATION rate soared to 34.19% in June, reaching a 28-year high. The National Bureau of Statistics (NBS) released the data on Monday. This marks the 19th consecutive month of rising inflation. In May, the rate was 33.95%. Reforms by President Bola Tinubu contributed to this surge. Cutting petrol and electricity...
