Uncertainties as Buhari govt’s Monetary Policies fail to tackle rising inflation

The three months of rising inflation in 2023, with the recent figure standing at 22.04 per cent, has put pain, frustration and agony in the faces of Nigerians and the country’s economy.

DAILY POST reports that like a drowning person, Nigerians are overwhelmed by the rising food prices and the cost of goods and services. It is now a commonly accepted reality that there is no time one visits the market without an increase in the prices of goods and services.

The prices of foods, goods and services keep jumping, ballooning without a commensurate increase in the purchasing power of Nigerians. The implication is that more Nigerians would likely slip into poverty as their ability to access basic needs shrinks due to declining purchasing power.

According to the National Bureau of Statistics’ March Inflation report, the country’s inflation increased by 6.12 from 15.92 per cent in 2022 despite the government’s effort to tackle the trend.

Retrospectively, when President Muhammadu…