Support Infographics Daily News Dotcom

Podcasts.

Nigeria’s inflation rate rises to 21.91%

-

 


The National Bureau of Statistics (NBS) says the country’s headline inflation rate rose to 21.91 percent in February 2023 compared to 21.82 percent of January 2023, indicating an increase of 0.09 percent points.
The bureau affirmed this in its report titled ‘Consumer Price Index (February 2023)’ made available to News reporters on Wednesday. The statement comes as the country attempts to bounce back from months of naira scarcity occasioned by the naira redesign policy of the Central Bank of Nigeria (CBN) first announced on October 26, 2022.
The CBN launched the redesigned N200, N500 and N1,000 banknotes in November 2022 in a bid to tackle cash hoarding and vote-buying ahead of the 2023 general elections. The extended deadline of February 10 was enforced amid a Supreme Court ruling allowing the validity of the old notes. “In February 2023, the headline inflation rate rose to 21.91% compared to January 2023 headline inflation rate which was 21.82%,” it stated.
“Looking at the trend, the February 2023 inflation rate showed an increase of 0.09% points when compared to January 2023 headline inflation rate.” Similarly, on a year-on-year basis, the headline inflation rate was 6.21 percent points higher, compared to the rate recorded in February 2022, which was 15.70 percent.
“This shows that the headline inflation rate (year-on-year basis) increased in February 2023 when compared to the same month in the preceding year (i.e., February 2022),” the report stated.

Comments

Post a Comment

Popular posts from this blog

RCCG PASTOR ALLEGED IN 46 MILLION NAIRA VISA & INSURANCE SCAM

-
Image
  Pastor Ojo Oluwasesan A pastor, said to be of the Redeemed Christian Church of God (RCCG), Ojo David Oluwasesan is alleged to have committed a financial scam, totaling 46,000 million Naira. Alhaja Oladipupo Ganiyat  met Pastor Ojo Oluwasesan in GTB, Oyo town Nigeria about 5 years ago and Ojo introduced himself as  AIICO insurance  financial adviser and also  a pastor of the Redeemed Christian Church of God at sanctuary cathedral, opposite Adekitan filling station in Ojongbodu area, Oyo Nigeria. He was able to sell 'Deffered annuity insurance' of 5million Naira to his new client and promised that  the premium  certificate will be ready in  6 months to a year.  In January 2023 Ojo presented himself as a travel Agent that could process Visas to  US, Canada, Ireland and Australia. She introduced more clients and they made some payments.  In May 2023, he organized fake biometrics in Saudi, Lagos and Abuja. The case was reported to Oyo State Police Command , Eleyele Police Headquar
Read more

Indonesia stadium stampede leaves 125 dead

-
Image
  At least 125 people died and 323 injured at an Indonesian football stadium when thousands of angry home fans invaded the pitch and police responded with tear gas that triggered a stampede, authorities said Sunday.  Arema FC supporters at the Kanjuruhan stadium marched onto the pitch after their team lost 3-2 to the visiting team and bitter rivals, Persebaya Surabaya. Officers fired tear gas in an attempt to disperse agitated supporters of the losing home side who had invaded the pitch after the final whistle in Malang, East Java, on Saturday night, the region’s police chief Nico Afinta told reporters. Many of the victims were trampled or choked to death, according to police.  Survivors described panicking spectators in a packed crowd as tear gas rained down on them. President Joko Widodo ordered an investigation into the tragedy, a safety review into all football matches and directed the country's football association to suspend all matches until "security improvements"
Read more

U.S Mission To Prioritise Student Visa Applications For Nigerians

-
Image
  U.S. Mission Country Consular  Advisor , Susan Tuller on Friday revealed that the Embassy in Abuja and Consulate General in Lagos will make every effort to assist student visa applicants in a timely fashion while keeping personnel and customers safe.  “As we continue to prioritize the health and safety of our staff and customers, processing student visas remains a high priority for the U.S. Mission in Nigeria. “We will increase the number of student visa appointments in May and June to ensure that we can offer appointments to as many students as possible. If your U.S. studies are scheduled to begin this Fall, we encourage you to schedule your appointment as quickly as possible.” The consular coordinator explained that all student visa appointments must be booked through the  specified US travel website . She also cautioned applicants against the use of third-party services, including touts, and fixers who broker visa appointments. “Both Nigeria and the United States benefit when Nige
Read more