Nigerian annual inflation slows for tenth month, to 15.90 pct -stats office

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    LAGOS, Dec 18 – Annual inflation in Nigeria slowed for the tenth month in a row in November, easing to 15.90 percent, the National Bureau of Statistics (NBS) said on Monday in a report.

    A separate food price index showed inflation at 20.30 percent in November, compared with 20.31 percent in October.

    In October Central Bank Governor Godwin Emefiele said he expected inflation rates to fall at a faster pace and reach high single-digit rates by the middle of 2018.

    The bank has kept its main rate at 14 percent for over a year now as it battles inflation and seeks to attract foreign investors to support the naira currency.

    However, the government wants to see interest rates come down to lower its borrowing cost and stimulate the economy. It repaid some treasury maturities last week.

    The West African nation emerged from its first recession in 25 years in the second quarter as oil revenues rose, although the slow pace of growth suggests the recovery remains fragile.

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    Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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