President Bola Tinubu has reiterated his administration’s plans to reduce inflation from its current high of 34.6 percent to 15 percent in 2025. President Tinubu, in his New Year messages, admitted that 2024 posed numerous challenges to Nigerians and households. He said that 2025 will bring brighter days, adding, “By the grace of God, 2025…
The Federal Competition and Consumer Protection Commission (FCCPC), on Tuesday, reacted to the negative criticism by the Organised Private Sector and other interested parties regarding its recent directive to businesses to cease price gouging, price fixing, and other exploitative practices. “Price control is entirely outside the scope of our responsibilities.” In a statement on its…
Despite the continuous increase in MPR over the past two years resulting in a weighty 1,475 basis point hike from 11.5% in May 2022 to 26.25% in May 2024, inflation has remained persistently high, reaching a staggering 34.19% in June, the highest since March 1996.
