Nigeria’s food inflation rises despite drop in global commodity prices

August 16, 2022 1

While global food prices dipped for the fourth consecutive month in July 2022, food inflation has continued to accelerate in Africa’s biggest economy for the fifth straight month. The July inflation report published by the National Bureau of Statistics (NBS) shows that food inflation rose by 22.02 percent in July, month-on-month, up 2.04 percent from […]

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Naira records marginal depreciation as external reserves decline

Nigeria’s currency, Naira, recorded marginal depreciation against the dollar at the Nigerian Autonomous Foreign Exchange Fixing (NAFEX), the nation’s official foreign exchange market, despite a significant increase in liquidity. Increased activities were witnessed in the market on Monday as the daily foreign exchange market turnover rose to $134.30 million compared to $46.31 million recorded on read more Naira records marginal depreciation as external reserves decline

August 16, 2022