Adebayo Adenrele
The National Bureau of Statistics (NBS) revealed that the Nigeria’s annual inflation rate has rose to 28.92% in December 2023 from 28.20 in November.
They said the headline inflation was 7.58 points on a year-on-year basis, compared to the rate recorded in December, 2022 which was 21.34%.
In recent years, there has been hike in the price of food across the country. The situation deteriorated due to the impact of the government policies such as the subsidy removal on fuel.
NEWSTODAYNG recalled that President Bola Ahmed Tinubu in July 2023, declared an immediate state of emergency on food security to tackle food price increases.
Tinubu also directed that all matters pertaining to food and water availability and affordability, as essential livelihood items, be included within the purview of the National Security council.
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