Nigeria, Oct. 21 -- The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has blamed about N30 trillion in monetary financing for inflationary pressures affecting Nigerians, arguing that economic reforms introduced by President Bola Tinubu's administration helped avert a deeper crisis.

Mr Oyedele said Nigeria could have experienced inflation of up to 1,000 per cent without the reforms, including the removal of the petrol subsidy and changes to the foreign exchange market.

"If this reform had not happened, ladies and gentlemen, today, you would be talking about inflation in a thousand per cent," he said on Tuesday in Abuja.

He spoke at the 56th Annual Accountants' Conference of the Institute of Chartered Accou...