{"id":155543,"date":"2025-03-18T12:52:45","date_gmt":"2025-03-18T11:52:45","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/why-nigerias-inflation-drop-hasnt-resulted-in-reduction-in-prices-of-goods-prof-ajibola"},"modified":"2025-04-03T17:31:33","modified_gmt":"2025-04-03T16:31:33","slug":"why-nigerias-inflation-drop-hasnt-resulted-in-reduction-in-prices-of-goods-prof-ajibola","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/why-nigerias-inflation-drop-hasnt-resulted-in-reduction-in-prices-of-goods-prof-ajibola","title":{"rendered":"Why Nigeria\u2019s inflation drop hasn\u2019t resulted in reduction in prices of goods \u2013 Prof Ajibola"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>Prof Segun Ajibola, a renowned economist and former president and chairman of the Council of the Chartered Institute of Bankers, has explained why Nigeria\u2019s two consecutive years of declining inflation have not fully reflected in the prices of goods and services.<\/p>\n

He said it would take time for the impact of Nigeria\u2019s lowering inflation to manifest.<\/p>\n

He made this known in an interview on Monday while reacting to February\u2019s inflation rate released by the National Bureau of Statistics.<\/p>\n

Recall that Nigeria\u2019s headline and food inflation dropped further in February 2025 to 23.18 percent and 23.51 percent, respectively.<\/p>\n

Reacting, Prof. Ajibola said the inflation figures released by NBS for February 2025 attest to the nature of inflationary pressure confronting Nigeria\u2019s domestic economy, which is cost-induced.<\/p>\n

\u201cOver time, the monetary approach to solving the problem failed because of the disconnect between the nominal, market-infused monetary tools and the real market.<\/p>\n

\u201cThe cost of energy, notably fuel, relatively came down in the month of February. This had spiral effects on the prices of consumables such as food items, manufactured products, transport fares, and others. The overall impact is seen in the marginal reduction in headline and food inflation.<\/p>\n

\u201cHowever, the impact takes time to manifest because, in ordinary economic parlance, prices are sticky downward. Once up, prices become sticky and slow to come down, and if at all, it takes time.\u201d<\/p>\n

This comes as the economist urged the government at all levels to do more in combating the fiscal side of inflation.<\/p>\n

According to him, a further pause in the monetary policy rate, which stands at 27.50 percent, would be necessary to sustain the inflation rate drop.<\/p>\n

\u201cGovernments at all levels are doing a lot to combat cost-push inflation. But a lot more needs to be done, especially from the fiscal side, to combat the monster.<\/p>\n

\u201cThe monetary solutions, such as continued increases in the monetary policy rate, offer no prospect for taming the monster,\u201d he said.<\/p>\n

For More News And Analysis About Nigeria<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. Prof Segun Ajibola, a renowned economist and former president and chairman of the Council of the Chartered Institute of Bankers, has explained why Nigeria\u2019s two consecutive years of declining inflation have not fully reflected in the prices of goods and services. He said it would take time for the impact of Nigeria\u2019s […]<\/p>\n","protected":false},"author":84,"featured_media":155542,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[13012,539,365,254],"class_list":["post-155543","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-ajibola","tag-food","tag-inflation","tag-nigeria"],"yoast_head":"\nWhy Nigeria\u2019s inflation drop hasn\u2019t resulted in reduction in prices of goods \u2013 Prof Ajibola - Nigeria<\/title>\n<meta name=\"description\" content=\"Prof Segun Ajibola, a renowned economist and former president and chairman of the Council of the Chartered Institute of ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/why-nigerias-inflation-drop-hasnt-resulted-in-reduction-in-prices-of-goods-prof-ajibola\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Nigeria\u2019s inflation drop hasn\u2019t resulted in reduction in prices of goods \u2013 Prof Ajibola\" \/>\n<meta property=\"og:description\" content=\"Prof Segun Ajibola, a renowned economist and former president and chairman of the Council of the Chartered Institute of ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/why-nigerias-inflation-drop-hasnt-resulted-in-reduction-in-prices-of-goods-prof-ajibola\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-18T11:52:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-03T16:31:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/03\/sm_1742289841.661655.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"386\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/why-nigerias-inflation-drop-hasnt-resulted-in-reduction-in-prices-of-goods-prof-ajibola#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/why-nigerias-inflation-drop-hasnt-resulted-in-reduction-in-prices-of-goods-prof-ajibola\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Why Nigeria\u2019s inflation drop hasn\u2019t resulted in reduction in prices of goods \u2013 Prof Ajibola\",\"datePublished\":\"2025-03-18T11:52:45+00:00\",\"dateModified\":\"2025-04-03T16:31:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/why-nigerias-inflation-drop-hasnt-resulted-in-reduction-in-prices-of-goods-prof-ajibola\"},\"wordCount\":352,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/why-nigerias-inflation-drop-hasnt-resulted-in-reduction-in-prices-of-goods-prof-ajibola#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/03\/sm_1742289841.661655.jpg\",\"keywords\":[\"ajibola\",\"food\",\"inflation\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/why-nigerias-inflation-drop-hasnt-resulted-in-reduction-in-prices-of-goods-prof-ajibola#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/why-nigerias-inflation-drop-hasnt-resulted-in-reduction-in-prices-of-goods-prof-ajibola\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/why-nigerias-inflation-drop-hasnt-resulted-in-reduction-in-prices-of-goods-prof-ajibola\",\"name\":\"Why Nigeria\u2019s inflation drop hasn\u2019t resulted in reduction in prices of goods \u2013 Prof Ajibola - 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