The Central Bank of Nigeria has said that despite the steady rise in inflation, the country is still doing better than most African countries.
The acting Governor of the CBN, Folashodun Shonubi, said this on Tuesday at the 2023 Zenith Bank International Trade Seminar.
Citing inflation figures in countries like Ghana, Ethiopia, and Egypt, the CBN Governor said the situation in Nigeria is not as bad.
According to him, beyond Africa, several countries of the world are also currently battling with hyperinflation.
He attributed this to the war between Russia and Ukraine, which he said has led to an astronomic rise in the prices of foods globally.