Nigeria’s Inflation Rises To 21.91%

A recent Consumer Price Index report by the National Bureau of Statistics (NBS) on Wednesday said Nigeria’s inflation rate has risen to 21.91%.

This is higher than the country’s January 2023 inflation rate which was 21.82%.

It represents a 0.09% point increase.

The rise in the inflation rate followed the naira crisis across the country and uncertainties relating to the just concluded presidential election.

The NBS said the rise in food inflation was caused by increases in prices of oil and fat, fish, meats, vegetable, yam and other tubers, bread and cereals, and other foods.

In other news, Kanyi Daily reported that more than 900 suspected terrorist collaborators of Boko Haram/Islamic State West Africa Province insurgents have been arrested by troops of Sectors 3 and 4 of the Multinational Joint Task Force (MNJTF).