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Nigeria’s central bank has reduced its benchmark lending rate for the first time in years, signalling a cautious but consequential shift in monetary policy direction as the country’s economic managers begin to ease the aggressive tightening that defined much of the past two years. The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, announced on…
Nigeria’s inflation rate slowed in November 2025, offering cautious optimism for households and businesses grappling with rising prices. According to the National Bureau of Statistics (NBS), the headline inflation rate declined to 14.45% in November from 16.05% recorded in October, marking a notable easing in the pace of price increases. The NBS explained that the…
The World Bank recently reported that inflationary pressure in Nigeria has pushed about seven million Nigerians below the poverty line in 2020 alone. The revelation, which was contained in the bank’s latest report on Nigeria titled, ‘Nigeria Development Update: Resilience through Reforms’, was released about two weeks ago. The bank’s report also noted the capacity…
It was quite cheering when information from the National Bureau of Statistics last week revealed that Nigeria’s inflation rate reduced by 0.05 per cent in April compared to what obtained in March. The bureau said while inflation rate stood at 18.17 per cent in March, it reduced to 18.12 per cent in April. It might…
