Nigeria’s headline inflation has increased to 22.04 per cent in March 2023 the National Bureau of Statistics (NBS) has disclosed.

The new figure brings the country’s rise in food and services closer to an 18-year high.

According to the NBS, the headline inflation rate of 22.04 per cent is 0.13 per cent points higher when compared to February 2023 headline inflation rate.

But when compared to the same period last year, it noted that the figure was 6.13 per cent points higher.

Nigeria’s Inflation Rate Rises To 22.04%
It said contributions of items on the divisional level to the increase in the headline index are food and non-alcoholic beverages (11.42 percent); housing, water, electricity, gas and other fuel (3.69 per cent); clothing and footwear (1.69 per cent); transport (1.43 per cent); furnishings, household equipment and maintenance (1.11 per cent); education (0.87 per cent) among others.

It added that the food inflation rate in March 2023 shot up to 24.45 per cent on a year-on-year basis; which was 7.25 per cent points higher compared to the rate recorded in March 2022 (17.20 percent).

“The rise in food inflation on a year-on-year basis was caused by increases in prices of oil and fat, bread and cereals, potatoes, yam and other tubers, fish, fruits, meat, vegetables, and spirits.

“On a month-on-month basis, the food inflation rate in March 2023 was 2.07 per cent, this was 0.16% higher compared to the rate recorded in February 2023 (1.90 per cent ).”

It said the average annual rate of food inflation for the 12 months ending March 2023 over the previous 12 months’ average was 22.72 per cent, which was 3.50 per cent points increase from the average annual rate of change recorded in March 2022 (19.21 per cent).

SOURCE:https://brandspurng.com/2023/04/17/nigerias-inflation-rate-rises-to-22-04-nbs-reports/

I really pity Nigerians at this point...


If you're not where you're seeing money. Omooo..

Indeed ... But wait for subsidy removal

Hmmm

Another one… Subsidy removal will possibly see inflation at 100%.

Not like the money saved from subsidy will go into the economy. It will still be looted via over bloated contract on infrastructure

Useless Government running a helpless citizenry.

Òmo, and we're about to face subsidy removal.
(Am sure with good govt policy, things will work out eventually)

The best thing to do as a Nigerian is become prepared and be pro-active.
Everywhere Go Good.

na only God go fit help us like this, APC una well done oh, subsidy removal is around the corner, it will only get worse...

ATEAMS:
Indeed ... But wait for subsidy removal

Exactly

Joey4321:
I really pity Nigerians at this point...


If you're not where you're seeing money. Omooo..

Insensitive govt we have from LG to FG.

President Bola Tinubu with his midas touch would bring it down to a single digit before his 2nd year in office .
God bless President Muhammadu Buhari
God bless President elect Bola Tinubu

It doesn’t interest the dumb citizens, everyone is looking for obi and tinubu topic to masturbate on …. while the country is nose diving..

In Nigeria nothing is breaking news anymore

Sad.

WesternPanzer:
Useless Government running a helpless citizenry.

helpless citizenry that has refused to rise up, either due to fear or love for their chains

From top to bottom

Keyamo will blame the states and LG
Can someone take the time to explain to Keyamo the relationship between inflation rate, per capita income and poverty index

It is under reported self

Unfortunately the Yorubas who are predominantly civil servants bear the greatest % of the brunt
Business me must sell and make money
Northerners dey farm ,so food no be issues


The hour has come for all man to join hands and destroy Nigeria kpatakpata since the oppressed are happy in their oppression

No more dashing of money
No more free rent for yorubas herbal medicine sellers in the east
No more paying touts money to buy land in the west when viable lands full east and abi
No more paying unnecessary tithes and offering to your non ethic church leaders


Go to court if unhappy with my opinion

EeyanMayweather:
President Bola Tinubu with his midas touch would bring it down to a single digit before his 2nd year in office .
God bless President Muhammadu Buhari
God bless President elect Bola Tinubu

He won't inherit the leprosy of the APC which Nigeria has already seen in Buhari's administration since he intends to continue with what Buhari is doing?

I pray so for the sake of the hungry masses o

Noted.

ATEAMS:
Indeed ... But wait for subsidy removal

What is your opinion. Do you think things will be better as the ought to be more forex available?
Anyway, this is naija, the usual usual story.

do I just pity people like before again? of course not! Many are foolish and deserved not to be pitied. Oppressed singing the praise of their oppressors...all because they're from your tribe, or you share the same faith with them. Your suffering hasn't started. God will continue to keep his own

EeyanMayweather:
President Bola Tinubu with his midas touch would bring it down to a single digit before his 2nd year in office .
God bless President Muhammadu Buhari
God bless President elect Bola Tinubu

And if he doesn't... I just said a prayer for you.

There should be consequences for supporting good or evil.

Una never see anything. It will reach, 88.9% by the time the old senile corrupt heroin trafficker start his mafioso and drug cartel policies.

Subsidy would be removed and transferred to the drug cartels in Colombia, Conakry, Bolivia and Mexico.

$1 = 1500
1 litre of fuel = 750
Electricity 30 minutes in 31 days.

Agberos will collect owo burial, owo egusi soup, owo knacking, owo shekpe, owo private cars and owo oxygen.

Brace up!!!

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Watch video

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Hhh

Normal it can only get worse after subsidy removal. Its funny buh a sad reality

WE DONT CARE, OUR PROBLEM IS PETER OBI

How exactly do the citizens of the Poverty capital of the world survive with this level of Inflation??!

All the APC and Tinubu supporters will avoid this thread like it's infected!