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Nigeria’s inflation hits 33.20% amid high food pricesThe food inflation rate in March 2024 quickened to 40.01 per cent on a year-on-year basis
ByGovernMend Nigeria April 16, 2024April 16, 2024

The National Bureau of Statistics (NBS) announced that Nigeria’s annual inflation rate surged to 33.20% in March, up from 31.70% in February. This marks a 1.50% increase compared to the previous month. Year-on-year, the inflation rate rose by 11.16%, significantly higher than the rate recorded in March 2023, which stood at 22.04%.

Read More Nigeria’s inflation hits 33.20% amid high food pricesThe food inflation rate in March 2024 quickened to 40.01 per cent on a year-on-year basis
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Fuel Subsidy Removal and FX Unification to Drive Inflation to 30%, Says KPMG Report
ByGovernMend Nigeria November 12, 2023November 12, 2023

KPMG, a global financial advisory service firm, has forecasted that Nigeria’s headline inflation will surge to 30% by December 2023. The country’s current headline inflation rate stands at 26.72% as of September 2023. KPMG attributes this projected spike in prices to recent reforms in the petroleum industry, including the removal of fuel subsidies and the…

Read More Fuel Subsidy Removal and FX Unification to Drive Inflation to 30%, Says KPMG Report
Business | Economy | Matters Arising

FG Signs $700 Million Deal with German Firm to Boost Solid Mineral Exploration
ByGovernMend Nigeria October 31, 2023October 31, 2023

The Federal Government of Nigeria has signed a memorandum of understanding (MOU) with the German company Geo-scan GmbH, involving an investment of $700 million in solid mineral deposits. The German firm, known for its top-of-the-line geoscientific technology, will provide expertise and technology for exploration. This partnership aims to significantly enhance mineral exploration efforts and increase…

Read More FG Signs $700 Million Deal with German Firm to Boost Solid Mineral Exploration
Business | Economy | Governance

FG Plans New Forex Regulations to Strengthen the Naira
ByGovernMend Nigeria October 31, 2023October 31, 2023

The Nigerian federal government is reportedly planning to introduce new regulations in the forex market with the aim of bolstering the value of the naira and curbing illegal currency trading. The proposed rules would expand the official market to accommodate all legitimate transactions and seek to limit the supply to the parallel or “illicit” black…

Read More FG Plans New Forex Regulations to Strengthen the Naira