The National Bureau of Statistics, Monday, reported that Nigeria’s inflation rate climbed to 34.19% in June, up from 33.95% in May.
The Consumer Price Index and Inflation Report for June 2024 highlighted that this year-on-year increase is significantly higher than the 22.79% recorded in June 2023.
In response, the Minister of Agriculture and Food Security Abubakar Kyari, has announced a 150-day duty-free import window for essential food items like maize, wheat, and rice. This measure is part of the Presidential Accelerated Stabilisation and Advancement Plan aimed at achieving food security and economic stability.