Nigeria’s inflation “bad enough” under Buhari regime, says Femi Adesina
Femi Adesina, a spokesperson for President Muhammadu Buhari, admitted that Nigeria’s inflation is “bad enough” though it is an issue globally.
“Look at what inflation is doing around the world now. Next door neighbour, Ghana, the last I saw their inflation was 58 per cent,” Mr Adesina said. “Nigeria’s hit just about 22 per cent. I wouldn’t say about it because that is bad enough. But Ghana has 58.”
Mr Adesina, in an interview with Channels TV on Thursday morning, said “other countries are higher. United Kingdom has not had the level of inflation it has had in the past 40 years. It’s all over the world so no country of the world is where it wants to be.”
Mr Adesina’s admittance comes as Mr Buhari’s eight-year regime winds down. Mr Buhari will leave office on May 29.
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 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.
With the implementation of planned subsidy removal later in the year, inflation could rise further eroding purchasing power of many Nigerians.
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
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.”
Economy
NNPCL, SNEPCo, Esso, Agip seal deepwater Bonga deal, target $21 billion investment
NNPCL and the OML 118 contractor parties have executed the addendum to the OML 118 Production Sharing Contract and the addendum to the Dispute Settlement Agreement.
Economy
AiNET, CEO settle with U.S. SEC over submitting claims for data centre services
The U.S. alleged that the AiNET data centre failed to comply with Tier III standards and that AiNET and Mr Jain falsely certified to the SEC that it was Tier IV.
Faith
BPP felicitates Tinubu, Muslim faithful on Eid-ul-Mawlid
Mr Adedokun, in a goodwill message on Tuesday, extended warm greetings to Mr Tinubu, praying that the prophet’s virtues would continue to inspire the president’s leadership.
World
UK vows to keep backing Ukraine war efforts amid Russia’s threats
The United Kingdom, on Monday, pledged continued support for Ukraine amid threats from Russia.
Anti-Corruption
Philips engineer convicted for stealing trade secrets for Chinese competitor Kunshan GuoLi
A federal jury in Chicago convicted a former engineer at Philips Medical Systems of conspiring to steal Philips’ trade secrets and bring them to a Chinese competitor.
Economy
Tetra Tech to pay $57 million over falsifying soil test results at Hunters Point Naval Shipyard
The complaint further alleged that Tetra Tech intentionally manipulated scan results in its database, falsely representing scans taken at different locations.
