inflation Archives - Pen Agency News

Inflation Explained – Causes, Consequences, and Control

Over time, you may have noticed prices rising on everyday items like groceries, gas, and clothing. This phenomenon is known as inflation, which can significantly impact your purchasing power and overall financial...

Telcos Tariff Hike Sparks Lawmaker Uproar

Regulatory Approval and Industry Rollout Following regulatory clearance by the Nigerian Communications Commission, major telecom operators have begun implementing a long-awaited 50% tariff increase. MTN has updated its data plan prices, with...

Wale Edun Lauds Tinubu on His Economic Reforms

Wale Edun’s Perspective on Tinubu’s Economic Diplomacy Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, recently lauded President Bola Tinubu’s approach to economic diplomacy. According to Edun, the...

Abuja Stampede: Woes of Economic Struggles and Public Ignorance

A Tragic Incident Amid Economic Hardship On Saturday, December 21, 2024, a deadly stampede occurred at the Holy Trinity Catholic Church in Maitama, Abuja, leaving at least 10 people dead and several...

CBN Raises Interest Rate to 27.5%, Sixth Increase in Nine Months

The Central Bank of Nigeria (CBN) increases its Monetary Policy Rate once again as inflation pressures continue to rise. Decision Follows Persistent Inflation Challenges The Central Bank of Nigeria (CBN) has raised...

Buhari’s Aide Refutes CBN’s Claim on N35tn Money Printing

Buhari’s Aide Counters CBN Governor’s Statement A top aide to former President Buhari refuted claims made by CBN Governor Yemi Cardoso regarding Nigeria’s economic challenges. Cardoso blamed inflation and economic hardship on...

Nigeria Under Tinubu: One Year On

Economic Hardship A year under Tinubu, economic hardship remains a pressing issue in Nigeria. Abubakar Sheka, a bread-seller in Kano, observes that his customers are more concerned with daily survival than discussing...

Fury Over Electricity Subsidy Removal

In a contentious move, the Federal Government has withdrawn electricity subsidies for Band A consumers, sparking Fury Over Electricity Subsidy Removal across Nigeria. Despite the nation still grappling with the aftermath of...

Nigeria’s Inflation: February CPI Hits 31.7%

Nigeria’s inflation persistently high; February CPI hits 31.7%, the highest since April 1996, per National Bureau of Statistics. Analysts alarmed as Nigeria’s inflation rate surpassing estimates, with February CPI at 31.7%; Nigeria...

The Nigeria Labour Congress (NLC) Adjusts Demands

The Nigeria Labour Congress adjusted its minimum wage demand to 500,000 Naira, reflecting workers' needs amidst inflation and a realistic assessment of the country's economic state. While the government's reply is pending,...

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Tag: inflation