High Prices, 15.92% Inflation, Nigerians Spend 56% On Food

High Prices, 15.92% Inflation, Nigerians Spend 56% On Food

Author: Africa Business Radio April 20, 2022 Duration: 44:36
News Express
Business
The global surge in food prices is taking a toll on emerging and developing economies and Nigerians now deploy over 56 per cent of their total spending on food as food inflation in the country heads to 18 per cent after printing 17.20 per cent year on year in March 2022, current figures from the National Bureau of Statistics shows.
Average commodity prices in Nigeria rose by almost 127 per cent between 2020 and 2022 depicting the reality on the ground with consumers still getting stretched, squeezed and embattled at a time official inflation is at 15.92 per cent, rising for the third consecutive month in 2022.
The purchasing power of Nigerians remains eroded by the continued onslaught on the naira, a pressure that is trading at about N600 to the dollar in the parallel market.
The continuing face-off between Ukraine and Russia finally registering in the country, continues to mount pressure on commodity prices domestically

Tune into News Express from Africa Business Radio for a clear-eyed look at the forces shaping Nigeria's economy. This isn't just headline scanning; it's a dedicated exploration of the financial sector and markets, delivered with a focus you won't find elsewhere. We go beyond the surface noise of daily news to provide context and analysis, yet avoid the narrow jargon that can make trade publications inaccessible. Each episode distills the essential conversations happening right now in boardrooms and on trading floors. You'll hear informed discussions pinpointing what matters for pivotal areas like Investment Banking, Trading, Technology, and Fund Management, while also tracking movements in Alternatives, Commodities, and major Companies. For anyone with a stake in the region's business landscape, this podcast serves as a vital briefing, connecting the dots between sectors to offer a comprehensive, nuanced picture. News Express is your source for understanding not just what is happening, but why it matters for the future of African commerce.
Author: Language: English Episodes: 100

Official website RSS
News Express
Podcast Episodes
African Banks Maintain Resilience amid Difficulty [not-audio_url] [/not-audio_url]

Duration: 29:09
A new report by the European Investment Bank (EIB) based on a 2023 survey of Banking in Africa has found that banks on the continent have continued to show resilience despite operating in what the EIB described as “ a di…
High-Interest Rate Causing Debt Distress in Emerging Economies  [not-audio_url] [/not-audio_url]

Duration: 30:31
The Combination Of Aggressive interest-rate hikes in developed countries, lack of sufficient affordable capital from the World Bank and a failure to consider and address the spillover effects are creating costly spillbac…
IMF Expert Sees Lifeline for CBN’s E-naira in Mobile Money  [not-audio_url] [/not-audio_url]

Duration: 27:37
An expert in the Africa department of the International Monetary Fund has expressed optimism for the future success of Nigeria's e-Naira, Africa's first central bank digital currency and the world's second.Despite its un…

«123456...10»