Nigeria’s Gross Domestic Product (GDP) grew by 3.46% year-on-year in real terms during the third quarter of 2024, according to the latest report from the National Bureau of Statistics (NBS).
Nigeria’s headline inflation rate in September 2024 rose to 32.70%, up from 32.15% in August 2024, marking a 0.55% increase month-on-month.
In a move that stunned the financial markets, the Central Bank of Nigeria (CBN) Monetary Policy Committee voted to further raise interest rate by 50 basis points to 27.25%.
Nigeria’s month-on-month food inflation declined in April for the second consecutive time following five months of consistent increase dating back to October 2023.
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