The national average retail price paid by consumers for Premium Motor Spirit, PMS, otherwise known as petrol increased year-on-year, YoY, by 223.21 per cent to N769.62 per litre in May 2024 from N238.11 per litre recorded in the corresponding period of 2023.

At the backdrop of the escalating cost of living crises, the National Bureau of Statistics, NBS, has released the long awaited ‘Gross Domestic Product (GDP) Report by Expenditure and Income Approach’, the first since second half of 2023, H2’23, showing negative shift in household consumption expenditure.

Nigeria’s headline inflation rate rose by 0.26 percentage points to 33.95 percent in May from 33.69 per cent in April.

“This financing package reinforces the World Bank’s strong partnership with Nigeria, and our support towards reinvigorating its economy”

With the rising cost of beans, many Nigerians are looking for budget-friendly ways to continue consuming protein foods.

Cartoon: Let’s consult Aboki on how he controlled this cow’s diet

Cardoso stated that despite the increase in regulatory guidelines for the sector, no Fintech has had its licence revoked by the CBN.

Cardoso noted that despite pressure from food inflation, the general inflation rate was “moderating”, pointing out that “the tools the Central Bank is using are working”

The Naira yesterday appreciated in the parallel market to N1,470 per dollar from N1,475 per dollar on Monday.

AN increasing number of Nigerians are being driven into poverty, not by choice, but by the current political and economic climate, shaped by stringent macroeconomic policies. These policies, such as subsidy removal, devaluation of Naira, and increase in electricity tariff, have had unintended consequences. For instance, removing subsidies has led to a significant increase in the […]