Nigerians are feeling the pinch of rising prices, and the Central Bank is taking decisive action. Governor Dr. Olayemi Cardoso reaffirmed the Monetary Policy Committee's (MPC) commitment to keeping interest rates high to combat inflation. This comes after two significant interest rate hikes in 2024, pushing the benchmark lending rate to a record 24.75%.
Nigeria has spent N981.5bn on elections since 1999, ranking among the world’s costliest. Yet credibility issues and rising disputes cast doubt on the value of the spending.