LAGOS SEPTEMBER 27TH (NEWSRANGERS)-Nigeria’s central bank on Tuesday hiked its main lending rate by 150 basis points to 15.50%, its highest level yet and more than forecast, forging ahead with efforts to rein in inflation and ease pressure on the currency. A Reuters poll of economists had predicted a much smaller 50 basis point hike….
LAGOS AUGUST 16TH (NEWSRANGERS)-The rise in food and airline ticket prices in Nigeria over the past year continues to show up in the data. In July, Nigerians paid 19.64% more for goods and services than they did in the same month last year, according to the latest inflation report (pdf) from the National Bureau of…
LAGOS JULY 16TH (NEWSRANGERS)-To cushion the impact of inflation, the government of Ghana has increased workers’ salaries by 15 per cent. The salary increase that is tagged “Cost of Living Allowance (COLA),” is the major highlight of the agreement the Ghanaian government signed with the workers, in exchange for a stable workforce in the economically-troubled…
LAGOS JUNE 3RD (NEWSRANGERS)-Regardless of age or social class, (almost) every Nigerian appears to be affected by the inflation rate, which rose by 16.82% year-on-year (YoY) in April 2022. Among the affected groups, small business owners seem to have it worse. Most of them don’t make as much as they used to, as their customers…