According to recent figures from the National Bureau of Statistics, NBS, Nigeria’s annual inflation rose to 16.5 percent in June from 15.6 percent in May.
Food inflation also rose to 15.3 percent from 14.9 percent over the same period, the NBS said.
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Nigeria’s revenue generation has been seriously impacted by the recent crisis in the Niger Delta region. The country’s currency is depreciating against the dollar and implementation of the year’s budget is slow.