On the back of rising inflation rate and shortage of foreign exchange (FX) in Nigeria, Dangote Cement Plc, MTN Nigeria Plc and 12 other companies incurred a whopping sum of N2.25 trillion as operational costs in half year (H1) ended June 30, 2022, representing an increase of 27.3 per cent from N1.77 trillion reported in half year of 2021.

Inflation rate in Nigeria hit 18.6 per cent as at H1 2022 from 15.6 per cent the National Bureau of Statistics (NBS) reported in January.

The Bureau on Monday reported further hike in inflation rate to 19.64 per cent, highest in over 17-year.

Source: ThisDay