By Blaise Udunze Celebrating Nigeria’s latest inflation figures as proof that price stability has finally arrived is dangerously seductive. It has not. No doubt, the Central Bank of Nigeria under Olayemi Cardoso can point to reforms, stronger external reserves, a more orderly foreign-exchange market, banking-sector recapitalisation, improved remittance flows, and moderating headline inflation, as reported. Those are measurable developments. But the increasingly celebratory accounts of Cardoso’s three years risk confusing improvement in macroeconomic indicators with victory over Nigeria’s cost-of-living crisis. That distinction matters. A recent THISDAY assessment described Cardoso’s three…
Read MoreOLAYEMI CARDOSO’S THREE YEARS AND THE 23% RATE CUT TEST
