Nigeria's Inflation Rises To 17.9% In September – NBS - 9jaflaver





Light Dark

WELCOME TO 9JAFLAVER

NEWS  |  SOCCER LIVE-SCORE   |  MOVIES   |  +18 ADULT LEAKS   |   INSTALL 9JAFLAVER MUSIC APP   |  HOTTEST 100 SONGS  |  SPORTS  |  CELEBRITY GIST  |  MIXTAPE  |  JOKES  |  COMEDY VIDEOS  |  NIGERIAN MUSIC ARTISTES  |  







Nigeria’s Inflation Rises To 17.9% In September – NBS

    Posted by on October 15, 2016,






Nigeria’s Inflation Rises To 17.9% In September – NBS

Oct 14 Annual inflation in Nigeria accelerated in September to 17.9 percent, a more than 11-year high and the eighth monthly rise in a row, highlighting the economic crisis in Africa’s most populous nation.

The rise from 17.4 percent in August reflected higher prices for electricity, kerosene, transport and food, a separate index for which rose to 16.6 percent from August’s 16.4 percent, the National Bureau of Statistics (NBS) said on Friday.

“During the month, the highest increases were seen in clothing materials, shoes, books and stationeries,” the NBS said in a statement.

Nigeria, Africa’s biggest energy producer, has seen its economy slide into recession for the first time in 25 years, largely due to the impact of low oil prices. Crude oil sales account for 70percent of government revenue.

These problems have been exacerbated by a spate of militant attacks this year that have cut oil output and a dollar shortage on the currency markets that has frustrated businesses struggling to import raw materials for production.

On Friday the central bank auctioned a two-month dollar forwards to clear a backlog of demand from airlines, manufacturers and other companies, traders said.

The NBS has revised its forecast for year-end inflation, estimating the index will end at between 17.1 percent and 18 percent, up from 9 percent at the start of the year.

(Reporting by Chijioke Ohuocha; editing by Mark Heinrich)

Reuters








Promote Article, Music, Video, Comedy Skit & Virals
Call: +2348143945195 Or +2349027283345

Whatsapp: +2348143945195



















Comment Below:-

Enter Name Below (Optional)

         
Enter Comment Below:-



ATTENTION!! CAN'T FIND THE SONG YOU ARE LOOKING FOR? INSTALL 9JAFLAVER GO APP NOW TO GET ALL MUSIC, STREAM AND DOWNLOAD LEGALLY, AND LET YOUR FAVOURITE ARTISTS GET PAID ROYALTIES (CLICK HERE)




Promoted Songs
Great Mumbela


Song Artwork

Now Playing: Love Bug

Aretti Adi






DMCA.com Protection Status

© 2014-2024 9jaflaver. All Rights Reserved.


About us | DMCA | Privacy Policy | Contact us

| Advertise| Request For Music | Terms Of Service


9jaflaver is not responsible for the content of external sites.