- Energy prices are driving renewed inflationary pressure across Nigeria.
- Analysts warn that tighter rates could further weaken business activity.
ABUJA, NIGERIA – Nigeria’s inflation accelerated for a second consecutive month in April, underscoring the fragile nature of the country’s economic recovery as rising global energy prices continue to ripple through Africa’s largest economy.
Data released Friday by the National Bureau of Statistics showed headline inflation climbed to 15.69 percent in April from 15.38 percent in March, reversing a nine-month disinflation trend that policymakers had hoped signalled improving macroeconomic stability.
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