Economic activity in Nigeria is facing rising inflation. This increase is impacted by the lifting of fuel subsidies. The Central Bank issued a statement on Tuesday, July 25, according to which the country raised its key rate by 25 basis points.

Nigeria's key rate increases from 18.50% to 18.75%, a few months after the announcement of the end of gas subsidies. The Monetary Policy Committee (CPM) explained through the Central Bank statement that overall inflation rose by 0.38 percentage points to 22.79% in June 2023, compared to 22.41% the previous month, due to a moderate increase in food and commodity prices

Selon les données du Fonds monétaire international , for this year, growth Nigeria's economy is expected to reach 3.2% with an overall annual inflation of 20.1%