Nigerian APC member Ayobami Oyalowo links naira devaluation to rising inflation, not fuel price hikes.
Ayobami Oyalowo, a member of Nigeria's APC, attributes rising inflation to the naira's devaluation against the dollar, not fuel price hikes. He argues that the weak currency elevates costs for goods and services. Oyalowo anticipates worsening inflation as September figures are released, despite recent minor improvements in food prices. He recommends government efforts to strengthen the naira to alleviate inflationary pressures.
September 17, 2024
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