Subsidy Removal: Nigeria’s Inflation Rate To Hit 25%, Says World Bank

Following the removal of fuel subsidy in Nigeria, the World Bank has projected that inflation may hit 25 per cent in 2023 against the country’s already existing 22.41 percent inflation rate.

This shows that Nigeria is 2.59 per cent points away from the World Bank projection according to the recent May Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS).

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