In a concerning economic development, Nigeria has witnessed a sharp rise in imported food inflation, surging to a staggering 29.8% in February 2024 from the previous month’s 26.3%. This increase, amounting to a 352 basis points jump, underscores the mounting challenges facing the country’s economy. Analysis conducted by Nairalytics, the research arm of Nairametrics, revealed … Continue reading Nigeria’s Imported Food Inflation Soars to 29.8% Amid Naira Depreciation