The Executive Director of the Centre for the Promotion of Private Enterprise, Muda Yusuf, said the continued rise in Nigeria’s inflation showed that the country is yet to recover from the shocks of the fuel subsidy removal policy and the Naira floating policy by President Bola Ahmed Tinubu’s government in June 2023.
He said, “The rise in inflation is an indication that the economy is yet to recover from the shocks of the reforms in exchange rates and fuel prices.
“Hopefully, with some of the measures being implemented by the government or contemplated under the economic stabilisation plan, temporary import duty waivers, and other policies that will be fully implemented, we may see some reduction in the food prices,” he noted.
