Inflation and the Nigerian economy
By Guardian TV
29 April 2016 | 7:58 am
It’s a case of different scenarios but similar stories for these small-scale businessmen and women as they encounter a series of challenges due to the rising rate of inflation in Nigeria.
A deadly attack on churchgoers has highlighted the failure of Nigeria's leaders to end the conflicts wracking the country. As campaigning gears up ahead of elections in February 2023, the violence could worsen.
Russia's war in Ukraine is derailing the global economy's recovery from the pandemic. The Organisation for Economic Cooperation and Development (OECD) is the latest to slash its forecast for economic growth, warning of high inflation and a possible food crisis. Also in the show: India's central bank raises interest rates for the second time in less than a month, while Turkey's government refuses to do so, despite spiralling inflation.
The European Central Bank has left the interest rate unchanged but indicated that it will rise in July — the first hike since 2011. It is also halting a program which ultimately amounts to printing electronic money.
ISWAP behind Owo Church Attack – National Security Council, Ghana’s inflation surges to 18-year peak
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Working moms in Nigeria say they are being forced back to work too early, risking their and their babies' health.
Germany's Bundesbank has predicted annual inflation of 7.1% as prices spiral upward. The central bank also cut its economic growth forecast, warning that the situation could get worse depending on the war in Ukraine.
The 8.6% yearly increase is the biggest since 1981. President Biden's efforts to stem the tide are having little effect as the impact of Russia's invasion of Ukraine continues to hit global economies.
Traders across various markets in Nigeria have lamented the fast-growing inflation as food prices have continued to record an exponential growth in price. GuardianTV went to the market to speak with both sellers and buys about how expensive things have become.
Eleven passengers seized by gunmen during an attack on a train in northern Nigeria have been freed, though dozens are thought to remain in captivity.
The Japanese and Indian currencies plunged to their lowest records in decades against the US dollar as Washington looked set to hike interest rates in a bid to tackle inflation.
Wall Street had one of its worst days in recent weeks on Monday as a worse-than-expected US inflation figure last Friday fuelled concern about more aggressive rate hikes to come from the Federal Reserve. Cryptocurrencies also continued to tank after a lender froze withdrawals. Plus, as Europe looks to bolster the continent's energy security, France's TotalEnergies signs a deal with Qatar on a major gas field project.
The maiden edition of the Nigeria Solidarity Support Fund (NSSF) Awards treated winners and guests to a delightful evening on the 9th of June at NOK by Alara, Lagos. The awards celebrated and recognised people who have contributed massively to the healthcare sector in Nigeria and revealed the continued efforts of the NSSF to provide better healthcare in Nigeria.
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