Data obtained from the website of National Bureau of Statistics shows the following changes in the movement of selected macroeconomic aggregates in Nigeria between 2015 and 2023.

Movement In Selected Macroeconomic Aggregates 2015 - 2023

	2015	2022	Change
Inflation (Jan-15)	9.2%	22.79%	Positive
GDP Growth Rate	2.84% (Q3:2015)	2.31% (Q1:2023)	Negative
Interest Rates (MPR)	13%	18.75%	Positive
Exchange Rate (IFEM USD)	N181.78/$1.00	I & E window N7461.45/$1.00	Positive
Total Debt	N12.12 trillion	N49.85 trillion.	Positive
PMS Price	N87/Liter	N617/Liter	Positive
Crude Oil Price	$65,08/barrel (June-2015)	$90.75/barrel (August - 2015)	Positive
Unemployment	24.2%	40.6% (Estimate 2023)	Positive

Data Source: National Bureau of Statistics 2023

Provide answers to the following questions by carefully examining the data reported in the table.

1. Explain the current problem confronting the Nigerian economy.
2. From the table, CBN raised MPR consistently from 13% in 2015 to 18.75% in 2023. Explain the major reason behind the rise in MPR. Use trends in macroeconomic aggregate to show if changes in MPR is addressing the problem. Suggest reasons why you think this policy is working or not working.