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Nigerians are not holding there breadth as Nigeria's May 2021 inflation numbers suggest that the domestic consumer price index (CPI) has risen at a slower pace. The headline inflation number released by the National Bureau of Statistics (NBS) shows that inflation for the month of May 2021 settled at 17.93%, this was 0.19% lower than the 18.12% of the previous month of April.

Nigeria's currency weakened to a four-year low in the parallel market after the central bank's efforts to coax banks to sell more dollars to customers failed to bridge the widening gap between the official and street rates.

Average price paid by consumers for premium motor spirit (petrol) increased by 29.61% year-on-year and month-on-month by 1.01% to N168.06 in May 2021 from N166.38 in April 2021.