BREAKING: Nigeria’s inflation rises to 15.69% in April

Nigeria’s consumer price inflation jumped to 15.69% year‑on‑year in April 2024, up from 15.37% in March, marking the highest rate since the 1990s. The rise was driven by higher food prices, especially staples like rice, beans and tomatoes, as well as increased costs for transport and electricity. The surge reflects persistent supply‑chain constraints, a weak naira and expansive fiscal spending, prompting the Central Bank of Nigeria to consider further monetary tightening to curb price pressures. Views Nigeria