After the intense year-end/yuletide shopping activities, which expectedly made the prices of goods and services hit the roof, normalcy has since return to the regular markets with the plummeting prices...

The Central Bank of Nigeria (CBN) has directed deposit money banks to increase lending to the agricultural sector to check rising food prices. This followed its 262nd Monetary Policy Committee (MPC) meeting held from Monday, July 23 to Tuesday, July 24, 2018. It pegged the interest rate of such lendings at nine per cent per…

Why are food prices rising in Nigeria, whereas they have been falling globally? First, as an import-dependent economy, the depreciation in the value of the Naira relative to foreign currencies may have resulted in...

Mrs Angela Okonta, a food dealer, told NAN that a sac of garri which was previously sold for N20,000 now sold for 17,000. According to her, a bushel of garri which was sold for N1,000 in June now went for N700.

Frank Jacob, who is the President of the Manufacturers Association of Nigeria (MAN), told the News Agency of Nigeria (NAN) in Lagos that manufacturers were still burdened by high cost of importation.

The Consumer Price Index (CPI) which measures inflation increased by 16.05 percent (year-on-year) in July 2017, even as food price pressure continued into the month under review as all major food sub-indexes increased.

Ogbeh, who stated this in Ado Ekiti at the weekend during his visit to ABUAD’s farm and the Ekiti State government, said the President Muhammadu Buhari administration would stop importation of rice this year.

There is no attempt by the government to regulate prices because it cannot work. What government is worried about is the high cost of transporting commodities in some parts of the country.