The Central Bank of Nigeria’s Monetary Policy Committee has moderately hiked monetary policy rates to 18.75 per cent.The acting Governor of the Central Bank of Nigeria, Mr Folashodun Shonubi, disclosed this on Tuesday at the press briefing at the end of the 292nd MPC meeting.It can be recalled that the Central Bank of Nigeria (CBN), in its last MPC meeting, tightened the economy by raising the interest rate to 18.5 percent.

The already alarming headline inflation rate in Nigeria has increased to 22.79 percent.The hardship being felt by the majority of people has gotten worse as a result of this development.Despite the Central Bank of Nigeria's efforts to halt the trend, the country's inflation rate increased six times in a row in June, according to the National Bureau of Statistics Consumer Price Index (CPI).The Monetary Policy Rate (MPR) of 18.5 percent, which the CBN had continued to...

Nigeria’s April inflation figure on Monday increased to 22.22 percent from 22.04 percent last month.The National Bureau of Statistics Consumer Price Index report released Monday disclosed this.The data represented a 0.18 percent increase from April’s inflation figure.On a month-on-month basis, the All-Items Index in April 2023 was 1.91%, 0.05% points higher than the rate recorded in March 2023 (1.86%). This means that in April 2023, on average, the general price lev...