Inflation may hit 20% by December, experts warn

Inflation rate may hit 20 per cent high in December except the Federal Government embarks on urgent economic reforms to strengthen the economy, experts have warned.

They also advised that serious measures be taken to boost Nigeria’s production capacity and foreign reserves.

At the BusinessDay Breakfast Meeting with the theme: “Creating Enabling Environment for investment on precious metal,” Managing Director of the media outfit, Ogho Okiti, said no country becomes rich unless it has value to offer at the international market.

He lamented that despite the increase in the price of oil at the international market, Nigeria cannot benefit from the development because its production capacity is getting depleted on a daily basis.