Economists react as inflation rise inflicts more pains on Nigerians

Nigerians are progressively faced with the symptom of rising ostentation and outgo of surviving arsenic the Iran-United States-Israel warfare takes ripple effects connected Africa’s astir populous country.

DAILY POST reports that this is contempt President Bola Ahmed Tinubu administration’s reforms.

The latest ostentation information released by the National Bureau of Statistics showed that some header and nutrient ostentation successful March roseate to 15.38 percent and 14.31 percent recently.

The surge comes amid the implicit 50 percent and 70 percent summation successful substance and automotive state lipid prices since the Iran-US-Israel warfare escalation connected February 28, 2026.

DAILY POST reports that petrol and diesel roseate to betwixt N1,290 and N1,350 per liter from N900, portion diesel stood astatine N1,600 to N1,800 per liter successful the past 50 days amid crude lipid terms volatility.

The accusation of the supra is the important emergence successful the outgo of proscription nationwide, nutrient prices, and wide outgo of surviving successful Nigeria.

Although Nigeria is not the lone state affected by the planetary shocks, the country’s concern is dire, with citizens feeling the authorities is not doing enough.

Nigeria’s concern is much terrible owed to its import dependency.

It could beryllium recalled that the Federal Government had a rollout import work reappraisal for 127 items, including ric...