20170314

First Time in 15 Months, Inflation Rate Drops to 17.78% in Nigeria

Nigerians say VP Yemi Osinbajo performed well as acting president. The result is out to prove that he indeed did his best for the period that Osinbajo was in charge of the country as acting president.

The National Bureau of Statistics (NBS) on Tuesday released the Consumer Price Index which measures inflation rate with the index dropping from 18.72 per cent in January to 17.78 per cent in February.

The drop in the inflation rate by 0.94 percentage points according to the NBS report is the first time in 15 months that the country would see a reduction in inflation rate.

The report said the drop was attributed to slow increase recorded in food prices and other divisions.

“On a Headline basis, the Consumer Price Index (CPI) which measures inflation increased by 17.78 percent (year-on-year) albeit at a slower pace in February 2017, 0.94 percent points lower from the rate recorded in January (18.72) percent,” NBS said on Tuesday.

Since after Olusegun Obasanjo left government in 2017, inflation has been going up.

18 comments:

  1. a good news atleast for the 1st time in a long time..we hope to see and hear more good news,thanks to osinbanjo for a job welldone

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  2. Good News, but I think I there is mistake in this information at the end conclusion line

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  3. Great news. Hardwork paying off.

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  4. That's the work of the holyspirit! Pastor Oshibajo ruled in those 50 days prayerfully. He is a man of God. Very intelligent lecturer. I knew him since my university says at the faculty of law lasu.

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  5. Hassan Aderemi14 March, 2017 16:48

    Thank God PYO is part of PMB led government, we hope they work together to further drop inflation rate in the country.

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  6. Kudos to the prof

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  7. Oladimeji Seun14 March, 2017 21:38

    Thank God, reflection of good work from the VP.

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  8. Thumps up to our hard working VP

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