Monday, November 29

Tag: Nigeria’s Inflation

Bandits, Terrorists Cause Of Nigeria’s Inflation – Emefiele

Bandits, Terrorists Cause Of Nigeria’s Inflation – Emefiele

Mr Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), has attributed the country’s rising inflation to worsening insecurity, caused by bandits, terrorists and armed herdsmen. Emefiele stated this on Tuesday while presenting the communique from the Monetary Policy Committee (MPC) meeting which started on Monday. Emefiele explained that the inflation, which has increased for the 18th consecutive month, was exacerbated by food inflation. He said that insecurity in many food producing areas of the country was a major contributing factor. “The MPC noted with concern the continued uptick in inflationary pressure for the 18th consecutive month as headline inflation continued on an upward to 17.33 per cent at the end of February 2021 from 16.47 per cent in January 2021...

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