On a m/m basis, the headline inflation index increased by 1.60% in November, 0.06ppt higher than October’s 1.54%.
The National Bureau of Statistics (NBS) released the GDP report for Q3 2020 which officially confirmed the economy has slipped into a recession.
The survey is part of a World Bank global effort to support countries in their data collection efforts to monitor the impacts of COVID-19.
Data for September showed that headline inflation in Nigeria rose for the thirteenth consecutive month to a 30-month high.
Nigeria's inflation rate has risen to 13.71% as prices jump in almost every sector.
Many households have had to take out loans to meet their pressing financial obligations due to the effects of the COVID-19 pandemic.
According to the survey, loans taken since mid-March have been predominately informal in nature.
As Nigeria marks her independence anniversary, it is imperative to Xray how the economy has performed in the past decades.
The National Business Sample Census is expected to commence on October 12 2020, and end on December 12 2020.
The report showed that the highest numbers of cases were reported in the North Central region.