NewStats: 3,264,439 , 8,183,717 topics. Date: Wednesday, 11 June 2025 at 06:00 AM 4k1m6y

Stears has announced that Nigeria’s inflation rate may rise to 30 per cent by December 2023.

The data-driven insights provider announced this while unveiling its Pan-African inflation forecasts. It projected that Nigeria’s annual inflation rate is set to climb steadily until year-end, culminating at around 30 per cent, a level not attained since the country’s modern democratic era.

The firm stated that its forecasts are based on trusted econometric tools that consider a myriad of factors driving inflation, from general to country-specific dynamics.

In a statement, Stears’ Head of Insights, Fadekemi Abiru, said, “In September, we saw the exchange rate —the differential between official and parallel rates—rise to 25.2 per cent, which is a significant increase from what it was in August.

“We expect this gap to keep widening and exerting further inflationary pressures unless we see significant dollar inflows into the economy. We have also had heavy and prolonged rainy season, which has affected harvests. Following the recent release of Nigeria’s September 2023 inflation data, the country’s forecasts have been prioritised, with Kenya’s projections scheduled for early November and forecasts for other African nations coming in early 2024.”

The firm noted that its forecasts aim to guide corporates, professionals, and policymakers in their short-to-medium term pricing, investment, and policy decisions. It added that its inflation forecasts, spanning from October 2023 to December 2024, include both average and year-end predictions for 2023 and 2024.

Nigeria has one of the highest inflation rates in the world and an estimated four million people were pushed into poverty between January and May 2023 because of the worsening cost of living.

According to the World Bank, the removal of fuel subsidy and devaluation and unification of the exchange rate system will continue to increase the inflationary pressure in the country in the near term and erode the purchasing power of the average Nigerian.

In its recent Africa Pulse report, the World Bank noted, “The incoming Tinubu istration implemented a series of reforms that included the removal of fuel subsidies and the devaluation and unification of the exchange rate system.

“Petroleum prices have more than tripled since the subsidies were lifted at the end of May. The naira has weakened by nearly 40 percent against the US dollar since the mid-June devaluation. Although these measures are intended to improve the fiscal and external s of the nation, their inflationary effects in the near term can erode the purchasing power of households and weigh on economic activity.”

The country’s inflation rate is now well above the World Bank’s projected inflation rate of 25 per cent for 2023.

In its recent World Economic Outlook report, the International Monetary Fund predicted that high inflation is expected to slow Nigeria’s economic growth to 2.9 per cent in 2023.

https://punchng.com/inflation-may-hit-30-by-december-says-stears/

LMAO ....it's nothing

Nigerian problem runs deep , majority of our leaders have little or no understanding how development works the have no idea

Most think development is infrastructure

Abia has one of the worst Infrastructure in the whole south eastern Nigeria ...akwa ibom and Rivers have one of the best infrastructure in the region

Both depends on abia for supplies ... majority of money made in those states goes to abia even with the bad roads ...even with the no roads


Nigeria problem is education we need to educate the people rightly

All this inflation are symptoms of the underlined problem

While igbos see political offices as "come and work" Yorubas see it as "come and chop".

Yoruba people must ronu in hunger till 2030. Thereafter they will line up to jump into the lagoon. 😂😂😂

You want your economy to work?

Put more Igbos there ask OBJ , yar adua and Jonathan


By the of this year people will apologize to Emefiele
Save this page


Yerobas are overhyped no doubt


Bulaba and his gbajue SW tecno-crats on the mud

Therefore $100 (in dollar) will be $97 by year end.
While $100 (in Naira) will be $70 by year end.

If you no Sabi chop statistics,you go Sabi chop propaganda.

RN, propaganda don dey simmer, you go chop am tire.

Usmanovic95:
If you no Sabi chop statistics,you go Sabi chop propaganda.

RN, propaganda don dey simmer, you go chop am tire.

Oh yeah propaganda from tinubus punch

Abi... renewed shege continues 🙄

President Tinubu will tame the inflation, he tamed the Atlantic Ocean as a Lagos State governor.

I now have corn in my pocket!

Abi... that is the renewed hope they promised nigerians

Renewed hope to renewed shege 🙄

Thank God the person that is making this statement is one of them. If not, them for say because we lose, we are still wailing.

It is well o

Enjoy the ride

Brace up guys!

Forecast from the IPOB terrorists

mrvitalis:
LMAO ....it's nothing

Nigerian problem runs deep , majority of our leaders have little or no understanding how development works the have no idea

Most think development is infrastructure

Abia has one of the worst Infrastructure in the whole south eastern Nigeria ...akwa ibom and Rivers have one of the best infrastructure in the region

Both depends on abia for supplies ... majority of money made in those states goes to abia even with the bad roads ...even with the no roads


Nigeria problem is education we need to educate the people rightly

All this inflation are symptoms of the underlined problem

Apart from oil, Rivers and Akwa ibom are useless.

Allahu yaa Rabbi!

mrvitalis:
LMAO ....it's nothing

Nigerian problem runs deep , majority of our leaders have little or no understanding how development works the have no idea

Most think development is infrastructure

Abia has one of the worst Infrastructure in the whole south eastern Nigeria ...akwa ibom and Rivers have one of the best infrastructure in the region

Both depends on abia for supplies ... majority of money made in those states goes to abia even with the bad roads ...even with the no roads


Nigeria problem is education we need to educate the people rightly

All this inflation are symptoms of the underlined problem

U are very smart!
The thing is most blacks have terrible mental capacity to really build a working society!

What have we not seen? Shege! Shege promax! Speechless.

I no longer care.

As long all political divide are affected, I am very ok.

🤤

God bless all buisness men and women.
It is not easy at all.

I had to option for returning people money because of increased in prices of some of our products.

The best advice I can give to anyone now is to learn how to make money in foreign currencies legitimately. My saving grace during Buhari regime was my learning to make money on fiverr. Now I am very independent and well doing. There are many ways to make money online legitimately and you will see a lot of them here on this forum. Enlightened yourself and save yourself from this quagmire this regime and the previous have led Nigerians into. The government and politicians care for no one but themselves, no one can help you but yourself.

Peacemaker5128:
Forecast from the IPOB terrorists

Bola Ahmed Tinubu didn't to appoint you among his cabinet as online warrior shame on you

CONGRATULATIONS BY VOTE TINUBU INTO POWER, PROPHECY SHOW YOU THE WAY OUT , BUT YOU FAILED TO LISTEN

Reading...

And they keep borrowing money to enrich themselves....

NA STATISTICS WE GO CHOP!
If you know you know.

SALLYBERRY01:
God bless all buisness men and women.
It is not easy at all.

I had to option for returning people money because of increased in prices of some of our products.

Wittyness.