Nigeria’s inflation figure, during the week, was reported to hit 15.92%, the highest it ever has in the last six months.
The National Bureau of Statistics (NBS) announced that Nigeria’s inflation rose to 15.92 per cent in March 2022.
NBS stated this in its latest consumer price index, (CPI) published on Friday. March’s inflation figure is the highest level since October 2021 and makes it the second consecutive month of increase in the price of goods and services in the country.
The Federal Government on Wednesday announced that the Port Harcourt Refinery would commence operations by the first quarter of 2023.
The Minister of State for Petroleum Resources, Chief Timipre Sylva, who gave the announcement said the Port Harcourt refinery would be able to refine 60,000 barrels of crude oil per day from next year.
The contract cost for the rehabilitation of the Port Harcourt refinery was put at $1.5 billion. During a one-day facility tour of the Port Harcourt Refining Company in Eleme Local Government Area of Rivers State, Sylva assured that the federal government remains committed to making the refinery work.
The World Bank, during the week, issued a fresh prediction on Nigeria’s economy for 2022, raising its growth to 3.8%, up from 2.5% projected earlier in the year.
