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Governor of the Central Bank of Nigeria , Yemi Cardoso, has blamed the current high cost of food stuff being experienced across the country on federal government’s purchase and distribution of palliatives.
He stated this in his contributions during the March Monetary Policy Committee meeting which was published on the website of the CBN. “This could be considered as evidence of the impact of decisions reached at the 293rd MPC meeting. Staff reports show that the principal drivers of acceleration in inflation are hikes in food and energy prices which are associated with structural factors. Further, new dimensions of inflationary pressure are emerging.
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