FMCG Companies Cut Workforce by 8.7% in 2023 Amid Economic Challenges
The Fast-Moving Consumer Goods (FMCG) sector in Nigeria witnessed a notable downsizing of its workforce in 2023, reflecting the ongoing ...
Tag: #inflation
Nigerians Turn to Banks for N4.82 Trillion in Loans Amid Rising Inflation
Nigerians borrowed an unprecedented N4.82 trillion from banks between January and March 2024 as the soaring cost of living forced ...
Eurozone Inflation Rises By 2.6% Unexpectedly in July
In a surprising turn of events, the eurozone's annual inflation rate increased in July, driven primarily by escalating energy costs, ...
CBN Increases Interest Rate to 26.75%
The Central Bank of Nigeria (CBN) has raised the interest rate by 50 basis points, bringing it to 26.75%. This ...
CBN Warns of Continued High Interest Rates Amid Rising Inflation
The Central Bank of Nigeria (CBN) may persist with its stringent monetary policies if inflation rates continue to climb, according ...
Naira Falls to N1,577/USD: Lowest Since March
The Nigerian naira has dropped to its lowest level since March, trading at N1,577 per U.S. dollar on Monday, despite ...
Nigeria’s Inflation Rate Rises to 34.19% in June 2024
In June 2024, Nigeria experienced a rise in its headline inflation rate, reaching 34.19%, a slight increase from 33.95% recorded ...
High Interest Rates Stifle Economic Growth: Aliko Dangote Calls for Policy Reevaluation
Aliko Dangote, the President of Dangote Group Industries Ltd, has issued a stark warning about Nigeria's economic prospects, asserting that ...
CBN Reports Progress in Inflation Control Amid Rising Food Prices
The Central Bank of Nigeria (CBN) announced on Saturday that its efforts to curb inflation through monetary policy tightening are ...
Naira Maintains N1500/$ Rate in Black Market Amid High Inflation
The naira has sustained its position within the N1500 per dollar range on the parallel market, despite the U.S. dollar ...
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