A tough festive season lies ahead for Nigerians as the country’s headline and food inflation rates worsened under President Bola Ahmed Tinubu’s administration.
Economists and financial analysts believe the government’s interventions to tame inflation are not enough, the reason it has continued to rise, hitting 34.60 percent in November.
They also believe the Federal Government’s announcement of a free train ride for commuters this festive period will not have a meaningful impact.
Prof. Segun Ajibola, former President and Chairman of the Council of Chartered Institute of Bankers, and Muda Yusuf, the Chief Executive Officer of the Centre for the Promotion of Private Enterprise, disclosed this exclusively in separate interviews with charmingpro on Monday.
This comes as the National Bureau of Statistics on Monday announced that Nigeria’s inflation further rose by 0.72 percent on a month-on-month basis to 34.60 percent in November.
At the same time, food inflation skyrocketed to 39.93 percent in November from 39.19 percent