Nigeria: Inflation Rate Rises To 16.5 Percent

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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Kemi Adeosun
Kemi Adeosun

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.

 Since the signing of the 2016 budget this year, there has not been much result or execution of projects proposed in the budget.
The Nigerian currency also continues to float in the parallel market.
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Daniel Enisan is a content writer at With a degree in mass communication, Daniel is a full breed journalist. Daniel is a realist, loves the use of sarcasm, a movie and music junkie. He is also a poet and a good listener.

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