Many were however not jolted by the NBS latest reports, which showed that Nigeria’s inflation rate surged to 18.17%, amid high food prices, the highest in four years. Stakeholders have expressed concerns about the country’s mounting inflationary pressure on static household incomes citing the need to address causal factors before it becomes unsustainable. Suffice that the inflationary trend is propelled by the food inflation (22.95%) component of the consumer price index, resulting from the adverse effect of the incessant herders-clashes. Insecurity, he said, is responsible for food scarcity in Nigeria. These reduce the ability of farmers to produce enough food, the academic said.

Source: The Guardian April 16, 2021 03:56 UTC