Monthly Archives: January 2015

Bricklayer’s Explanation of N10 Reduction in Fuel Price

Oddly though, the Minister of Finance, Ngozi Okonjo-Iweala, had insisted in December that Nigeria would not reduce the pump price of fuel despite falling oil prices, until the revenue crisis caused by the dwindling oil rates is over. What led to this policy reversal?

Dodgy approximation by the NBS in December

The National Bureau of Statistics (NBS) released inflation for December which stated that inflation rose 0.1percentage points to 8% on an annualized basis. The NBS report is slightly misleading as while its approximately 8%, the agency is exposing a bias. The actual percentage change in the CPI (Consumer Price Index) over December is 7.945% which […]