Nigeria Maintains Single-Digit Inflation Target Despite Iran War Pains

Nigeria’s central bank will stay focused on driving down inflation even as the oil price shock caused by the Iran war pushed monthly prices to the highest in more than two decades in March.

The bank will stay the course “with respect to bringing down inflation to single digits in spite of all that is going on,” Governor Olayemi Cardoso said at the Spring Meetings of the International Monetary Fund in Washington, where central bankers gathered to access the impact of the Iran war on the global economy.