The Nigeria Employers Consultative Association has warned that the continuous rising of inflation, if not controlled can hit 25 per cent before the end of the years 2023. In a statement on Wednesday, the Director-General of NECA, Mr. Wale Oyerinde, said the recent decision by the Monetary Policy Committee of the Central Bank of Nigeria to raise the Monetary Policy Rate by 25 basis points to 18.75 per cent could be chaotic to the growth trajectory of the nation. He said tightening monetary policy stance by raising the anchor rate had proved ineffective. According to him, “Based on the recent decision by the Monetary Policy Committee of the Central Bank of Nigeria to raise the Monetary Policy Rate by 25 basis points to 18.75 per cent, such increase could be chaotic to the growth trajectory of the nation. “It is apt that the apex bank collaborates with fiscal authorities in addressing the fundamentals behind the persistent increase in consumer prices, which has defied the policy measures put in place by previous rate hikes. “Tightening monetary policy stance by raising the anchor rate has proved ineffective, as inflation has been rising steadily and could climb as high as 25 per cent before year end.”