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Wednesday, January 18, 2012

Subsidy strike costs Nigeria’s economy $1.2b



Nigeria's economy lost out on an estimated 207.4 billion naira ($1.2b) due to an eight day strike this month prompted by a dispute over the removal of petrol subsidy, the national bureau of statistics said on Wednesday.
Nigeria consumer inflation edged down slightly year-on-year in December to 10.3 percent, from 10.5 percent the previous month, it said. 
The data, according to Reuters showed that food inflation rose 11 percent in December, up from 9.6 percent in November.

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