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RUSSIA-UKRAINE WAR
Ibrahim Maigari, Chief Executive Officer of Rice Afrika, has attributed the current food inflation in Nigeria to a series of disruptive events from 2020 to 2023, including the COVID-19 pandemic lockdown, currency redesign, and the removal of fuel subsidies by the current administration.
The war against Ukraine and sanctions on Russia are hitting economies around the globe, says the World Bank.
The Ukraine-Russia war has its effect on the Nigerian economy but Nigeria probably won't benefit from the yields as it may be late to the party.