Nigeria’s Inflation Hits 18.3% In October - Business - Nairaland
Nairaland Forum / Nairaland / General / Business / Nigeria’s Inflation Hits 18.3% In October (8187 Views)
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| Nigeria’s Inflation Hits 18.3% In October by dipoolowoo: 2:38pm On Nov 14, 2016 |
By Modupe Gbadeyanka A new report by the National Bureau of Statistics (NBS) has disclosed that Nigeria’s annual inflation as at October 2016 was now 18.3 percent. In the report posted on the agency’s website on Monday, it was disclosed that the figure rose from 17.1 percent it was in September 2016. The reason for this, Business Post gathered, was because of the higher prices for electricity, clothing and food in the country. The 18.3 percent inflation rate is Nigeria’s highest in more than 11 years and the ninth straight monthly rise. The agency explained that, “During the month, the highest increases were seen in housing, water, electricity, gas and other fuels.” A business analyst in Lagos, Mr Olalekan Adesanya, told Business Post that the latest report shows another sign of the crisis in Africa’s biggest economy. Nigeria has been struggling with her economy since the inception of the present administration in 2015. Prices of commodities in the country have skyrocketed, and in some cases, by over 200 percent. Last week, Minister of Budget and National Planning, Mr Udoma Udo Udoma, revealed that President Muhammadu Buhari would unveil the government’s economic recovery plan next month. http://www.businesspost.ng/2016/11/14/nigerias-inflation-hits-18-3-october/ 1 Like 1 Share
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| Re: Nigeria’s Inflation Hits 18.3% In October by eezeribe(m): 6:43pm On Nov 14, 2016 |
There is nothing exciting about being FTC on such a negative news GOD IN HIS INFINITE MERCY WILL REMOVE THAT INCOMPETENT DICTATOR WHO TOOK NIGERIA FROM BAD TO WORSE. By His incompetence since assumption of office, He has made a public fool of himself and will leave office with his head burried in SHAME 45 Likes 1 Share |
| Re: Nigeria’s Inflation Hits 18.3% In October by brunofarad(m): 8:47pm On Nov 14, 2016 |
Hmmmm Ok oooo CHANGE indeed 7 Likes |
| Re: Nigeria’s Inflation Hits 18.3% In October by Noblesoul123: 8:48pm On Nov 14, 2016 |
The situation gets worse by the day & we have a finance minister that said RECESSION IS JUST A WORD. The thunder & lightening that will strike some people is still taking some lessons from Isis 51 Likes |
| Re: Nigeria’s Inflation Hits 18.3% In October by passionate88: 8:48pm On Nov 14, 2016 |
Buhari ooooooo. Chai Afonjas and the lost Jews will still blame Jonathan I blame the dullard for this. Him and those that campaigned and voted him in 39 Likes |
| Re: Nigeria’s Inflation Hits 18.3% In October by holluwai(m): 8:49pm On Nov 14, 2016 |
E kuku no consign(concern) baba
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| Re: Nigeria’s Inflation Hits 18.3% In October by 4nobody4every1: 8:49pm On Nov 14, 2016 |
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| Re: Nigeria’s Inflation Hits 18.3% In October by femi4: 8:49pm On Nov 14, 2016 |
Economy no go give me heart attack o.... Economy no go give me high blood pressure oh.... 2 Likes |
| Re: Nigeria’s Inflation Hits 18.3% In October by bejeria101(m): 8:49pm On Nov 14, 2016 |
Clap for APC! 14 Likes |
| Re: Nigeria’s Inflation Hits 18.3% In October by Timtilewa(m): 8:50pm On Nov 14, 2016 |
Inflation increasing, price of everything increasing, standard of living increasing. If something is not done. The consequences will be lifespan decreasing. Naija which way? 29 Likes 1 Share |
| Re: Nigeria’s Inflation Hits 18.3% In October by yomibelle(f): 8:50pm On Nov 14, 2016 |
inflation on the increase unemployment on the rise together makes stagflation yet, some executive airheads kp saying nigeria's economy is ok enough of the lies abeg. buhari, av gat no beef with u buh now dat indomie is #60, wahala dey 11 Likes 1 Share |
| Re: Nigeria’s Inflation Hits 18.3% In October by yanabasee(m): 8:50pm On Nov 14, 2016 |
And our president's always floating.... While the inflation is always on the increase.... We're in for a change! 6 Likes |
| Re: Nigeria’s Inflation Hits 18.3% In October by silentangel: 8:51pm On Nov 14, 2016 |
Changes 2 Likes |
| Re: Nigeria’s Inflation Hits 18.3% In October by buffalowings: 8:51pm On Nov 14, 2016 |
Omo see change  2 Likes |
| Re: Nigeria’s Inflation Hits 18.3% In October by angeltolly(f): 8:51pm On Nov 14, 2016 |
This change is sweet....... Buhari is working  12 Likes
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| Re: Nigeria’s Inflation Hits 18.3% In October by kingcomet(m): 8:51pm On Nov 14, 2016 |
ehya |
| Re: Nigeria’s Inflation Hits 18.3% In October by Lanre4uonly(m): 8:51pm On Nov 14, 2016 |
It is well with our economy because the rate at which everything is going is very worrisome. 2 Likes |
| Re: Nigeria’s Inflation Hits 18.3% In October by Paperwhite(m): 8:53pm On Nov 14, 2016 |
 This is a double digit inflation yet the "change" government is never worried about that as their major preoccupation is a Phantom & lopsided anti-corruption fight. Meanwhile their herded supporters have also lost their voices in recent times as biting hardship is now resetting their brain.Keep standing with the dullard till you quench.Sai Baba! Sai Chanji.Where is NgeneUkwenu?27 Likes 1 Share |
| Re: Nigeria’s Inflation Hits 18.3% In October by Ali13(m): 8:53pm On Nov 14, 2016 |
its well, in GOD we trust
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| Re: Nigeria’s Inflation Hits 18.3% In October by dhardline(m): 8:53pm On Nov 14, 2016 |
Who do we blame for this? Who else but the government in power. APC and Buhari carry your cross.  9 Likes |
| Re: Nigeria’s Inflation Hits 18.3% In October by bart10: 8:54pm On Nov 14, 2016 |
We actually have stagflation "inflation plus unemployment" and Bubu don go Marrakech go follow follow for climate change. Haba! 11 Likes |
| Re: Nigeria’s Inflation Hits 18.3% In October by Nobody: 8:54pm On Nov 14, 2016 |
Chai.. Lobatan 1 Like 1 Share |
| Re: Nigeria’s Inflation Hits 18.3% In October by Nobody: 8:55pm On Nov 14, 2016 |
2pac - changes.mp3 1 Like |
| Re: Nigeria’s Inflation Hits 18.3% In October by centuryman(m): 8:56pm On Nov 14, 2016 |
| Nigeria is finished. 1 Like |
| Re: Nigeria’s Inflation Hits 18.3% In October by Nobody: 8:57pm On Nov 14, 2016 |
Wetin una dey talk?! I buy Alomo bitters for 450!last week, do you think it's funny?? 8 Likes 1 Share |
| Re: Nigeria’s Inflation Hits 18.3% In October by udejiga17(m): 8:57pm On Nov 14, 2016 |
All I see are opportunities...food and clothing for an average youth...agropreneurs entrepreneurs 1 Like |
| Re: Nigeria’s Inflation Hits 18.3% In October by Dreal11247: 8:59pm On Nov 14, 2016 |
Buhari has no good plans for Nigeria but only to islamise the country but he shall surely fail woefully. 11 Likes 1 Share |
| Re: Nigeria’s Inflation Hits 18.3% In October by Paperwhite(m): 9:04pm On Nov 14, 2016 |
yomibelle:  The least is #80-& that is the super pack brand. |
| Re: Nigeria’s Inflation Hits 18.3% In October by sanpipita(m): 9:10pm On Nov 14, 2016 |
Just like in 1984 it is happening again when will people realise Buhari is a terrible mistake, how can we explain to our children that we allowed a man with no intellectual ability rule us, let nigerians brace cos it will still get worse as long as Buhari is in power, *in elrufai voice before change happened Buhari is a stone age economist. 9 Likes |
| Re: Nigeria’s Inflation Hits 18.3% In October by phemmie06(m): 9:13pm On Nov 14, 2016 |
Kemi, Emanuele, Buhari, you see your life? You better go meet Okonjo for advise and swallow your pride 3 Likes 1 Share |
| Re: Nigeria’s Inflation Hits 18.3% In October by greenermodels: 9:14pm On Nov 14, 2016 |
inflation+unemployment=? 1 Like |
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