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Nigeria Grapples with Soaring Inflation, Plummeting Currency

Summary by Ground News

Nigeria's currency, the naira, further plummeted to 1,524 to $1 on Friday, reflecting a 230% loss of value in the last year. Latest government statistics released Thursday showed the inflation rate in January rose to 29.9%, its highest since 1996. The situation has provoked anger and protests across the country.

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Nigeria Grapples with Soaring Inflation, Plummeting Currency

ABUJA, Nigeria - Nigerians are facing one of the West African nation's worst economic crises in years triggered by surging inflation, the result of m

1 year ago·United States

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VOA News broke the news in United States 1 year ago on Sunday, February 18, 2024.

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