Naija News looks at the top happenings making headlines on the front pages of Nigeria’s national newspapers today Friday 16th September 2022.
The PUNCH: Nigeria’s inflation rate reached a 20 per cent mark in August 2022, reflecting the rising cost of living crisis facing Nigerian families and firms. It was the biggest inflation numbers since October 2005 with the cost food hitting 23.12 per cent on a year-on-year basis, representing a 2.82 percent increase from 20.30 per cent in August 2021.
The Guardian: At 20.52 per cent, representing the highest rate since September 2005 and still rising, Nigeria’s inflation rate may spiral above 50 per cent if prevailing socio-economic challenges and other triggers are not addressed within the shortest period, experts have warned.
This Day: The Consumer Price Index (CPI) which measures the rate of change in prices of goods and commodities rose to 20.52 per cent year-on-year in August, compared to 17.01 per cent in the corresponding period in 2021, the National Bureau of Statistics (NBS) disclosed yesterday.The CPI had risen to 19.64 per cent in July 2022.
The Nation: Former Peoples Democratic Party (PDP) Deputy National Chairman Chief Olabode George yesterday warned that the opposition party may lose next year’s presidential election to its crisis. He said the way and manner the protracted leadership crisis is resolved will determine the fate of the platform in the 2023 polls.
Daily Trust: Surges in inflation across African countries are dampening the outlook for currencies in the continent, AZA Finance said in notes to clients on Thursday. This came as Nigeria, Africa’s biggest economy reported a spike in inflation (20.52%) in the month of August. This is the seventh consecutive monthly increase and the highest level in 17 years (2005 inflation rate 24.3%).
Thank you for reading, that is all for today, see you again tomorrow for a review of Nigerian newspapers.
This article was originally published on Naija News