Nigeria’s Gasoline Price Hike Dims Rate Cut Prospects

• NNPC raises gasoline prices by 45%, sparking inflation fears and labour unrest
• Central Bank likely to maintain current rate as inflationary pressures persist

Abuja, Nigeria – An increase in gasoline prices in Nigeria, authorised by President Bola Tinubu’s administration, is adding to inflationary pressures and dimming the chances of a rate cut by the Central Bank’s monetary policy committee when it meets later this month, analysts say.