Nigeria's latest inflation report which recorded a decline in July 2024 is generating mixed reactions. This is as Nigerians have decried that the figure does not reflect everyday market realities. Recall that on Thursday last week, the National Bureau of Statistics consumers price Index and Inflation data for July indicated that the country’s headline and food inflation declined to 33.40 percent and 39.53 percent from 34.14 percent and 40.87 percent, respectively, in June 2024.
We can achieve this if you reduce import dependence on fuel. 'If we can refine it domestically, if the government sells crude to Dangote Refinery and other refineries in Naira, costs will be the driver of inflation. 'Lastly, insecurity; the food crisis has been largely attributed to food insecurity', he told DAILY POST.