But, as a snapshot, the 0.3 percent increase in core CPI inflation in October from September, (actually 0.27 percent rounded up) works out to an annualized rate of about 3.25 percent. I focus on core over headline inflation because I believe it is a better indication of future inflation.
Nigeria is the 8th largest producer of crude petroleum in the World and has the 6th largest deposit of natural gas in the World. Therefore, the potentials in the oil and gas sectors, agriculture and manufacturing, telecommunications and tourism, among others brighten the growth prospects of the country.