Nigeria’s headline inflation has risen steadily between July 2023 and June 2024

Prices of food items like tomatoes, yams, Irish potatoes, and brown beans have witnessed more than a 250% increase over the past 12 months in Nigeria. The country's headline inflation rate went from 24.08% in July 2023 to 34.19% in June 2024.

Source:

July 2023 - June 2024

<div style="text-align: center;"><a href="https://intelpoint.co/insights/nigerias-headline-inflation-has-risen-steadily-between-july-2023-and-june-2024/" title="Nigeria’s headline inflation has risen steadily between July 2023 and June 2024"><img src="https://intelpoint.co/wp-content/uploads/2024/08/Nigerias-headline-inflation-has-risen-steadily-between-July-2023-and-June-2024-1.png" style="width: 80%; height: auto; max-width:960px;-ms-interpolation-mode: bicubic; margin: 0 auto; display: block;" alt="Chart: Nigeria’s headline inflation has risen steadily between July 2023 and June 2024"/></a><br><span>Find more insights at <a href="https://intelpoint.co/insights?utm_source=Insight%20Embed&utm_medium=HTML&utm_campaign=Nigeria%E2%80%99s+headline+inflation+has+risen+steadily+between+July+2023+and+June+2024" target="_blank" style="color: #4f9acc; text-decoration: none;">Intelpoint</a>.</span></div>Copied to clipboard!

Period:

National Bureau of Statistics

HTML code to embed chart

Want a bespoke report?

Reach out

Related Insights

From 45% to 2%: How Nigeria lost its global palm oil production share to Asia

Indonesia dominated with 46.8M tonnes in 2022, up from 145.7 ktonnes in 1961
Malaysia was the second-largest producer in 2022 with 18.5M tonnes
Global production has increased from under 2M tonnes (1961) to over 75M tonnes (2022)
Thailand, Colombia, and Guatemala have emerged as major producers in recent decades
Nigeria was historically significant, but has been overtaken by Asian producers

Over one-fourth of Asia’s forests were in legally established protected areas as of 2024

Asia leads globally with 26% of its forests in legally protected areas.
The global average stands at 20%, meaning that one-fifth of all forests are under some form of legal protection.
Africa and Europe are tied at 23%, both above the global average.
South America has only 17% of its forests protected, despite being home to the Amazon rainforest.

Russia has the world's largest forest area at 832.6 Mha, accounting for a dominant 20.1% global share

Global forest cover is 4.1 Bha, according to the latest FAO assessment.
At 832.6 Mha, 20.1% of the global total, Russia has the world’s largest forest area.
Brazil (486.1 Mha; 11.7%) and Canada (368.8 Mha; 8.9%) rank second and third, respectively.
The United States (7.5%) and China (5.5%) complete the global top five.
Africa’s top contributor is the Democratic Republic of Congo, with 139.2 Mha, 3.4% of the global total.
Other African countries in the top 20 include Angola, Zambia, Tanzania, and the Central African Republic, each accounting for approximately 1% of the global forest area.
Together, the top ten countries account for over 78% of the world’s total forest area, highlighting the global concentration of forest resources.

Egypt and Nigeria led Africa’s industrial output in 2024, with $145.5bn and $89bn, respectively

Egypt led with an estimated $145.5 billion, accounting for about 25% of Africa's total industrial output among its top 15 economies.
Nigeria followed with $89 billion, while South Africa, Algeria, and Morocco made up the rest of the top five.
The top five economies accounted for more than 70% of Africa’s total industrial value added.
Notable mid-tier performers, Ethiopia and DR Congo, reflected rapid industrial investment.
Using constant 2015 USD reveals real production strength, not nominal currency shifts.

The National Institute for Hospitality and Tourism received ₦8 billion, three times the budget of the Nigerian Tourism Development Corporation

The Ministry of Art, Culture, Tourism and the Creative Economy allocated a total of ₦10.5 billion to its MDAs for the 2025 fiscal year.
The National Institute for Hospitality and Tourism (NIHOTOUR) received ₦8 billion, the largest allocation.
NIHOTOUR's allocation accounts for 75.5% of the ministry’s total budget for 2025.
The Nigerian Tourism Development Corporation received ₦2.6 billion, representing 24.5% of the total allocation.
NIHOTOUR’s budget is more than three times the allocation given to NTDC.

The Nigeria Immigration Service was allocated the largest share of the Ministry of Interior's budget (₦618.7 billion), accounting for a dominant 55.8%

The Nigeria Immigration Service received the highest share — ₦618.7 billion (55.8%) — of the Interior Ministry’s 2025 budget.
This allocation emphasises border security and migration management as national priorities.
The NSCDC follows with ₦240.9 billion (21.7%), highlighting the government’s focus on civil protection and internal security.
The Nigeria Correctional Service received ₦184.6 billion (16.7%).
Other agencies, including the ministry headquarters, received ₦64.5 billion (5.8%).