Subsidy removal could increase Nigeria's inflation 2.5%

Subsidy removal could increase Nigeria’s inflation 2.5% – World Bank

World Bank stated that the increase in prices that occurred between June 2020 and June 2021 could push about six million Nigerians into poverty.

The World Bank has said that removing the petrol subsidy in January 2022 could cause the headline inflation rate to rise by an additional 2.0–2.5 percentage points. The bank stated this in the November edition of its Nigeria Development Update. The report read, "Assuming a 20-percent pass-th

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