Nigeria's Inflation: A Detailed Economic Analysis (2005-2016)

This economic report examines the inflation rate in Nigeria from 2005 to 2016, highlighting key trends and economic challenges. The analysis reveals a persistent and significantly higher inflation rate compared to Nigeria's peers, with a spike observed in recent years. The report investigates the drivers of inflation, including the fall in global oil prices, which has reduced government revenue and increased the cost of imported goods. The study also considers the potential for stagflation, given the combination of high inflation, falling GDP, and rising unemployment. Data from the World Bank and other sources are used to support the findings, and the report references key events and economic factors that have shaped Nigeria's economic landscape. The report concludes by emphasizing the critical importance of addressing inflation to avoid further economic instability.