Nigeria’s inflation rate hits i33.69 per cent in April 2024, up from 33.20 per cent in March. The National Bureau of Statistics (NBS) report released Wednesday showed that the food and non-alcoholic beverages category continued to be the biggest contributor to inflation. Food inflation, which accounts for the bulk of the inflation basket, reached 40.53 per cent in annual terms, against 40.01 per cent in March. The galloping inflation is attributed largely to President Bola Tinubu administration’s removal of subsidy on petrol and naira devaluation due to foreign exchange rates…
Read MoreFuel Subsidy Removal, Devaluation Push Nigeria’s Inflation Rate To 33.69%
