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FG links rising inflation to border closure

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WHILE the controversy trailing recent closure of Nigeria’s land borders lingers, the federal government has blamed resurgent inflationary trend on the policy.

  Speaking while fielding questions from State House Correspondents after the weekly Federal Executive Council (FEC) meeting at Presidential Villa, Abuja, which was presided over by President Muhammadu Buhari yesterday,

Minister of Finance of Budget of National Planning, Zainab Ahmed feared that inflation rose due to hikes in food prices arising from border closure.

  “We are still discussing with our neighbours to ensure that we all respect our trade protocols, especially now that the African Continental Free Trade Area Agreement is coming into effect,” she said.

Although she stated that the closure of the borders was a temporary measure adopted by the government to protect the economy against trade malpractices by neighbouring countries, recent figures from Nigeria Bureau of Statistics (NBS), the headline inflation stood at 11.61 per cent as of October.

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