In Nigeria, the inflation slump is weighing on the recovery. The rise in the inflation rate reached 16.5% in January and could increase poverty in the country. Nigeria's economic recovery is increasingly weakened by rising prices. The inflation rate reached 16.5% in January year-on-year, the highest since 2017. Capital Economics economist Virág Fórizs says, "The price spike continues unabated. In addition to the weather that caused floods that last September destroyed the equivalent of 20% of the rice produced in 2019, insecurity affects several areas of the country, namely: the Northeast plagued by terrorism, the South exposed to piracy on oil facilities and the Center torn by ethnic conflicts. "Farmers are very exposed to this violence," says Nathan Quentric of Crédit Agricole. The IMF now expects growth of 1.5% this year.