In recent years, the nation has seen a persistent surge in inflation rates, reaching the highest levels in four years. Data released by the statistics bureau has shown that Nigeria’s inflation rate has since skyrocketed amid increase in food prices and poor purchasing power.
Nigeria has seen one of its longest inflationary streaks in recent months, amid border closures and a blockade of southern Nigeria. The figure jumped from 27.1 per cent recorded in the second quarter amidst Nigeria’s lingering economic crisis made worse by the coronavirus pandemic. In March, the CBN had denied devaluing the naira after the Minister of Finance, Zainab Ahmed, said the government had adopted the Nafex rate used by investors and exporters.The reduced value of the local unit has had effect on investment as much as it has impacted local businesses and manufacturing outfits.
Over ten years on Twitter and you fail to deliver on true journalism.
An illiterate to run an economy in 21st century and you expect it to move forward? Buhari can not defined economy is not hatred, tribalism or conspiracy theory is reality.
What parameters did you use.... Those who earned $ 130 BBL oil didn't deliver on the economy and you expect $30/60BBL to deliver plus Covid. What is Nigeria exporting to earn forex. Even the best of economies are struggling to cope...
I didn't read but wonder if the journalist covered the global ramifications of the pandemic?
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