BREAKING: Nigeria Inflation Rises To 21.91% Amidst Cash Crunch

Nigeria Inflation Rises To 21.91% , a 0.09% increase from January

 

The Nigerian inflation rate has increased.

 

The inflation rate increased to 21.91% in February 2023 from 21.82% in January 2023.

 

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The percentage represents an increase of 0.09%.

 

Wednesday’s Consumer Price Index report from the National Bureau of Statistics revealed this.

 

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The rise in the country’s inflation rate was precipitated by the naira crisis and the uncertainty surrounding the recently concluded presidential election.

 

According to the National Bureau of Statistics, the increase in food inflation was due to higher prices for oil and fat, fish, meats, vegetables, yam and other tubers, bread and cereals, and other foods.

 

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Meanwhile, Muhammad Gumel, the African Democratic Congress’s candidate for governor in Jigawa State, has been expelled for alleged anti-party activities.

The acting state chairman of the party, Kabiru Hussaini, stated this while briefing reporters in Dutse, the state capital.

Hussaini urged members of the ADC to back Mustapha Lamido, the Peoples Democratic Party’s candidate for governor, stating that only the PDP could save the state from total collapse.

He stated, “We are directing all of our Party’s supporters to vote for the PDP gubernatorial candidate because only the PDP can save the state from total collapse.”

Gumel, the ADC candidate for governor, has reportedly withdrawn his candidature and switched his support to the All Progressives Congress.

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