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Nigeria Economy

A food vendor poses for a portrait photograph in front of his store at Mile 12 market in Lagos; food prices remain high despite drop in inflation rate to 17.93% in May 2021, on July 7, 2021. The World Bank said the country’s surging inflation and rising prices had pushed an estimated seven million Nigerians below poverty line in 2020. This rise in the food index was caused by increases in prices of Bread, Cereals, Milk, Cheese, Eggs, Fish, Soft drinks, Coffee, Tea and Cocoa, Fruits, Meat, Oils and fats, and Vegetables. (Photo by Olukayode Jaiyeola/NurPhoto)

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