Nigeria’s inflation rose to 22.04% in March: NBS
Nigeria’s inflation rate rose to 22.04 per cent in March 2023, from the 21.91 per cent recorded in February 2023, according to the Consumer Price Index published by the National Bureau of Statistics (NBS) on Saturday.
The country’s inflation rate has now risen three times in a row since the beginning of the year.
March inflation data shows a 0.13 per cent increase from the 21.91 per cent recorded in February 2023.
Year on year, the country’s inflation rate increased by 6.13 per cent from 15.92 percent in March 2022.
“On a month-on-month basis, the all-items index in March 2023 was 1.86 percent, which was 0.15 per cent points higher than the rate recorded in February 2023 (1.71 percent),” the report added.
The NBS statistics also showed that the rate of food inflation in March increased to 2.07 per cent , 0.16 per cent more than the 1.90 per cent reported in February.
The central bank is likely to continue tightening monetary policy, focused on draining money out of the economy, with the inflation rate already at 22.04 per cent.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
States
Independence: NBA urges Nigerians to expect better future
The NBA said that ordinary Nigerians should be deriving benefit from the subsidy removal rather than hardship.
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Police nab suspects over alleged vandalism, theft of transformer cables
The suspects were arrested at different locations in the state.
States
Bayelsa court jails three for attempted human trafficking
The defendants pleaded guilty to all three charges upon their arraignment on October 28.
Heading 5
Oriental Hotel guest recovers belongings stolen by notorious Lagos thief
CCTV footage capturing the thief’s face and movements went viral after it was posted on social media.
Hot news Home top
NJC recommends new judges across five states, two appellate courts
The recommendations were made at the council’s 112th meeting held on November 3, 2026.
Anti-Corruption
EFCC grills ex-banker over alleged diversion of customer’s N515 million
According to the EFCC, the money was transferred in three tranches.
Heading 4
Customs recorded N1.42 trillion revenue, $753 million exports in Q3 2026: Official
Mr Maiwada said interceptions with a combined duty-paid value exceeding N8.1 billion were recorded.
