EXPLAINER: Why prices of food are high despite naira appreciation
Despite recent moves by Central Bank of Nigeria (CBN) to stabilise the naira, Nigerians are still experiencing the worst food inflation in decades amid economic downturn. Background Data from the National Bureau of Statistics showed that the annual food inflation rate was 35.41% in January, 11.9% higher than January 2023 (24.32%). At the state […]