Breaking News!!! Nigeria’s Struggle with Inflation as Inflation Rises to 21.91%.

Nigeria’s efforts to maintain moderate inflation seem to have hit a major roadblock as headline inflation soared beyond predictions to a record 21.91% in February.

This is a clear indication that monetary rates may experience a hike when the Central Bank of Nigeria (CBN) convenes for the Monetary Policy Meeting next week.

According to Politainment.net reports released yesterday by the National Bureau of Statistics (NBS). Inflation surged beyond January 2023’s figure of 21.82%, marking an increase of 0.09% compared to January’s headline inflation rate.

However, the increase in inflation during the month of February. Also, which was attributed to general election spending and the scarcity of banknotes. Which has caused significant economic hardship for individuals and small-scale businesses.

Although, Nigeria held its presidential and National Assembly elections in February. Meanwhile, the governorship and state House of Assembly elections are scheduled for March 18.

https://politainment.net/nigeria/inflation-rises-by-0-09-to-21-91-amid-cash-scarcity/

I see

When there is lesser money in circulation,inflation is till on the run.

Before now, I was so eager to see Buhari leave office. But with the Druggie gearing up to replace him, I don't even know who is better. Nigeria keeps going down before our very eyes.

INFLATION IS 71.19% NOT 21%. STOP THE GIBBERISH.