Our website use cookies to improve and personalize your experience and to display advertisements (if any). Our website may also include cookies from third parties like Google Adsense, Google Analytics, and Youtube. By using the website, you consent to the use of cookies.

Inflation in Nigeria is still climbing while it has slowed globally: here’s why

Inflation in Nigeria is still climbing while it has slowed globally: here’s why

JUST as Nigerians were gradually digging out from the devastating effects of the COVID-19 pandemic, they were hit by high inflation. The Nigerian economy contracted by 6.1% at the peak of COVID-19 in the second quarter of 2020. Unemployment rate rose from 27% in the second quarter of 2020 to 33% in the fourth quarter of the same year. STEPHEN ONYEIWU, Professor of Economics & Business, Allegheny College The World Bank estimated that 11 million Nigerians were pushed into poverty during the pandemic, in addition to the 100 million (out of 200 million people in the country) who were already…
Read More