The Nigeria Statistics Agency said on Wednesday, February 15, 2023, that the country's inflation rose again in January. It reached 21.82% in annual terms, due to the rise in food inflation.

For 10 consecutive months, inflation has increased in Africa's largest economy. It led to a series of interest rate hikes by the central bank, before dropping to 21.34% in December. For its part, food inflation being the major part of Nigeria's inflation basket increased to 24.32% in January from 23.75% in December. Weak economic growth, rising insecurity, and high inflation are major issues for voters as Nigeria heads to parliamentary and presidential elections this month.