 The increasing monetary policy rate, Nigerian's inflation rate is now 20% above the world's bank projection of 15.5%. In its recent Nigerian development update, June 2022, the continuing urgency of business unusual, the global bank projected that Nigeria's inflation rate was going to be higher than it had anticipated and would hit 15.5%. The latest inflation figure from the National Bureau of Statistics shows that the nation inflation rose to 18.60% in June, the highest since January 2017 when it was 18.72%.