For the first time in 17 years, Nigeria’s inflation rate rose to 20.8 percent as a result of soaring food prices and supply chain disruption, according to  the National Bureau of Statistics (NBS). The Consumer Price Index report for September 2022 released on Monday shows that inflation figure for the preceding month – August – was 20.52 percent. The NBS …

In its eight-year reign, the Muhammadu Buhari administration budgeted N93.45 trillion (2016 to 2023 budgets). But 72.1 percent of that figure, amounting to N67.4 trillion, was committed to recurrent expenditure, leaving 27.9 percent for capital spending on infrastructure in health, works, education and other sectors. Recurrent expenditure includes salaries, emoluments and allowances of public officers and civil servants. On the …