DAILY POST
The Chief Executive Officer of Financial Derivatives, Bismarck Rewane has said the prices of food in Nigeria are expected to drop by September 2024.
The popular economist disclosed this in an interview with Channels Television on Tuesday.
Speaking on the latest Central Bank of Nigeria’s interest rate hike to 26.75 percent, Rewane said that inflation is expected to moderate from September.
He predicted a marginal moderation of Nigeria’s inflation from 34.19 percent to between 32 percent and 28 percent at the end of the year.
According to him, the coming on board of Dangote Refinery from August, the 150-day zero import on the food program and the new N70,000 minimum wage will impact inflation.
He added that the Naira is projected to appreciate against the dollar in the foreign exchange market in the coming months.
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