Emefiele said the rise in the price of goods in Nigeria is the same as in other countries The Governor of the Central Bank of Nigeria (CBN...
Emefiele said the rise in the price of goods in Nigeria is the same as in other countries
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said that there is no difference between the rise in commodity prices in this country and other countries in the world.
He said that even the increase in the price increase from 15.60 percent in January 2022 to 20.77 percent in September is the same as in other countries of the world.
The governor of Adamawa has survived
Emefiele said this during the 57th dinner organized by the Institute of Banking in Nigeria (CIBN) in Lagos.
The governor of the bank said that the price of the goods rose to the highest level in September following the fact that it has been going down in 2021, as a result of the policies that stabilized the economy in the year.
According to him, "Food is still leading the price increase." This shows an increase of 23.34 percent in September.
"Also, in this period, the real price of goods rose from 13.87 percent to 17.60 percent in January.
"In addition to the remaining international factors, the decline in the value of the Naira due to the large number of imports from abroad and the increase in conflict between farmers and herdsmen in the areas that produce the most food here in Nigeria have also aggravated things," he said. Emefiele.
The CBN governor also said that the epidemic of COVID-19 that was fought in 2020 which the world has not faced economic pressure like it for almost 100 years also helped to increase the price of goods.