The country’s headline inflation rate, according to data from the National Bureau of Statistics (NBS), rose from 11.98 per cent in December 2019 to 15.75 per cent at the end of 2020. It went as high as 18.12 per cent in April 2021 before settling at 17.93 per cent in May 2021. Galloping inflation is compounding the poverty woes of Nigerians. The rising trend of food prices has been depleting the already meagre incomes of the average Nigerian household and thus invariably increasing the incidence of criminality in society. Real incomes have been falling since Buhari came into power in 2015 and more Nigerians getting poorer as the World Bank figures indicate.

Source: The Guardian July 19, 2021 03:11 UTC