According to the latest data from the National Bureau of Statistics, NBS, headline inflation fell for the month of December 2017 to 15.37%.
The data shows a marginal improvement in lowering of consumer prices from 15.90% in November 2017.
However, food prices and basic necessities are still out of reach. The sub-index fell down to 19.42% compared to 20.30% in the month before.
Nigeria’s is Africa’s largest economy by gross domestic product and far behind South Africa and Egypt in infrastructure capital context. Power cuts and a dilapidated transport and aviation industry have seen the country depending heavily on crude oil imports to stabilise its economy.