Nigeria's Inflation Peaks at 31.7%, the Highest in 28 Years

Nigeria's Inflation Peaks at 31.7%, the Highest in 28 Years

Nigeria’s annual inflation rate has surged to a 28-year high, reaching 31.7% in February 2024, marking a significant increase from January’s 29.9%. The spike, driven primarily by soaring food prices, poses a grave economic challenge for the country. Factors such as the removal of fuel subsidies and currency depreciation have exacerbated the…

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