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Wednesday, July 27, 2016 / Shawwal 23, 1437 AH
We’ll link state capitals by railBuhari
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Ambassadorial nominees fail National Anthem test
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peoplesdailyng
Vol. 23 No. 51 N150
Borno IDPs protest over poor feeding
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States now healthy, better funded- Govs page 5
CBN tilts monetary policy to fight inflation By Etuka Sunday
I
R-L: President Muhammadu Buhari signing document on the train. With him are Minister of Transportation, Mr Rotimi Amaechi and Minister of State Aviation, Senator Hadi Sirka as President Commissions/Flags-off Abuja-Kaduna Commercial Operation Rail Station at IDU Station in Abuja. Photo: STATE HOUSE
834 Days after: Will the abducted Chibok schoolgirls ever be rescued?
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n an apparent move to control inflation and further depreciation of naira, the Central Bank of Nigeria (CBN) yesterday raised Monetary Policy Rate (MPR) by 200 basis points from 12% to 14%. The CBN Governor, Mr Godwin Emefiele said, the rising inflationary pressure was largely a reflection of structural factors, including high cost of electricity, high transport cost, high cost of inputs, low industrial activities as well as higher prices of both domestic and imported food products. Recall, the National Bureau of Statistics (NBS) recently in its data showed a skyrocketed inflation at 16.5% in June attributed to high cost of electricity, transport and food; a separate index for which rose to 15.3% from 14.9% in May; its highest in almost a decade and the fifth monthly increase in a row, as the country’s economic crisis deepens.
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We’re fed up with Obasanjo’s sustained attacks- Senate Leader
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