EXPLAINER: Why Food Inflation In Nigeria Is 40% Despite Naira Growing Strength Against Dollar
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- Опубліковано 15 кві 2024
- While the naira has continued to appreciate against the dollar to become the world’s best-performing currency, food inflation in Nigeria jumped to a historic high in March.
Figures released by the National Bureau of Statistics, NBS in its Consumer Price Index, CPI, report for March 2024, show that food inflation, which constitutes more than 50 percent of headline inflation, rose for the 15th straight time from 37.92 to 40.01 percent.
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As long as energy prices are not reducing, then food inflation will remain high. Petrol, diesel, electricity cost must reduce.
Police and non state actors collecting money on our roads, bad roads, corruption , insecurity must be stopped
No currency will appreciate without production!! Nigerian politicians are clueless, defending naira with foreign reserves.. let see how long that can sustain us
Has there being a time in Nigeria that prices of goods go up and later go down?
Nigeria is a failed state
Food prices keep going up because farmers cannot go to their farms anymore due to insecurity. Until state police, local govt police is implemented, all else are stories
Ensure security and state police. Let d majority go to d farm. Encourage Agriculture and food prices will crash