Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Polls, Boko Haram seen worsening inflation

18 March 2015, 16:02

Abuja - The ongoing insecurity in the north east and upcoming general elections are among some factors projected to further drive inflation up.

The projection by Rand Merchant Bank follows inflation accelerating to 8.4 percent year-on-year in February from 8.2 percent in January.

The major price driver was food inflation, rising to 9.4 percent from 8.4 percent.

Although the lower international oil price has a positive effect on the fuel component of the inflation basket, it is outweighed by the continued weakness in the naira as Nigeria’s reliance on imports of raw materials, refined products and consumer goods remains high, RMB stated.

Also read: Jonathan fighting Boko Haram to win elections

The economic thinktank said the post-election period and the insecurity challenges could accelerate inflation.

“Retracting 50 percent of the remaining fuel subsidy, post elections, would exaggerate the effect on goods inflation, resulting in higher real wage demands to counter the negative wealth effect. Higher import prices, bottlenecks in food supply due to security challenges in the north, and excess liquidity in the banking system all pose palpable threats to inflation.”
Elections are due at the end of the month and mid-April.

The terror Boko Haram is waging in the north east, which has claimed thousands of lives over the years, has marred the run-up to the polls.

- CAJ News


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...