The World Bank has projected Nigeria’s inflation rate to reach 25 percent this year due to the removal of fuel subsidy.
The World Bank had in January last year predicted that Nigeria might have one of the highest inflation rates in the world and the seventh highest in Sub-Saharan Africa.
In its June 2023 edition of the Nigeria Development Update obtained by Ripples Nigeria on Sunday, the Bretton Wood institution said inflation would be driven by a hike in prices of commodities in response to the increase in fuel prices.
