Connect with us

News

NBS Rebases January Inflation Basket to 24.48%

The bureau put food inflation at 26.08 percent year-on-year.

Published

on

515 Views

The National Bureau of Statistics (NBS) has stated that Nigeria’s Headline Inflation dropped to 24.48 percent for the month of January 2025, from 34.80 percent in December 2024.

The bureau put food inflation at 26.08 percent year-on-year.

Speaking during a press briefing on Tuesday in Abuja, the Statistician of the Federation and the CEO of NBS, Prince Adeyemi Adeniran, said the new figure was as result of the rebasing of Nigeria’s inflation basket to keep it updated to international standard.

He stated that the country last rebased its inflation in 2009, thus using prices of goods prominent during the period.

“This rebasing process also allows Statistical Offices to introduce methodological enhancements to their computation procedures and align with global best practices.”

“Under this process, NBS is not only bringing the base year closer to the current period, from 2009 to 2024, but we have also introduced some critical methodology changes to improve the computation processes and quality of the estimates.

“Under the CPI, important enhancements have been made to the methodology.

Some of the improvements include the transition to the latest version of the classification method, the Classification of Individual Consumption.

According to Purpose (COICOP) 2018 version, from the 1999 version of COICOP, the new version has 13 divisions, bringing in household expenditure on Insurance and Financial Services, which now has a weight of 0.5% relative to the total household expenditure.

Another important improvement is the exclusion of own-production, imputed rents, and gifted items from the aggregates used to come up with the weights.

This is because CPI is a monetary phenomenon. Hence, the computations should only include monetary expenditure.

Also implemented under this rebasing is the movement of expenditures on meals away from home to the appropriate divisional class.

These changes are quite significant and appropriately align expenditures to their respective classes, enabling price changes to be measured properly.”

News

Jega loses wife, Hajiya Hadiza

Hajia Hadiza passed on yesterday and was buried according to Islamic rites.

Published

on

By

12 Views

The Special Adviser to the President on Livestock Development, Prof. Attahiru Jega, has lost his wife, Hajiya Hadiza Jega.

Hajia Hadiza passed on yesterday and was buried according to Islamic rites.

Vice President Kashim Shettima, who represented the President at the janazah (Islamic funeral rites) yesterday at the National Mosque in Abuja, conveyed the President’s heartfelt sympathy to the bereaved family.

President Tinubu described the late Hajiya Hadiza as a woman of uncommon grace and strength, noting that she played a pivotal role as a steady support system to her husband throughout his years of public service, including his tenure as chairman of the Independent National Electoral Commission.

A statement in Abuja by his Special Adviser on Information and Strategy, Bayo Onanuga, said that the President also applauded her contributions to education and community development, highlighting her quiet but impactful influence in advancing social causes.

Continue Reading

News

Atiku hires US lobbying firm for $1.2m to boost image – Report

One of the objectives of the engagement is to “counterbalance” the Nigerian government’s “lobbying narratives” in the United States, while also working to “advance understanding” of Atiku’s “leadership posture and policy vision” among policymakers.

Published

on

By

16 Views

Ex-Vice-President Atiku Abubakar has hired a Washington-based lobbying firm, Von Batten-Montague-York, L.C., to strengthen his reputational standing in the United States.

The PUNCH reported that the details of the deal are contained in documents filed with the U.S. Department of Justice, which show that the agreement was signed on March 9 and 10, 2026, by the firm’s managing partner, Karl Von Batten, and Nigerian politician Fabiyi Oladimeji on behalf of the former vice president.

According to the filing sighted on the Department of Justice ’s website on Sunday, the contract is aimed at shaping perceptions of Atiku within U.S. policy circles and countering narratives linked to the Nigerian government.

One of the objectives of the engagement is to “counterbalance” the Nigerian government’s “lobbying narratives” in the United States, while also working to “advance understanding” of Atiku’s “leadership posture and policy vision” among policymakers.

Under the arrangement, the firm is expected to facilitate meetings between the former vice-president and U.S. government officials, including members of Congress, as well as provide advisory services on policy positioning and engagement strategy.

“These activities include lobbying and government affairs engagement with Members of Congress, congressional staff, and executive branch officials concerning issues related to democratic governance, regional stability, economic development, and U.S. engagement with Nigeria and the broader West African region,” part of the contract reads.

The firm will also undertake “promotion, perception management, and public relations activities designed to enhance understanding among U.S. policymakers and relevant stakeholders” of Atiku’s positions.

Continue Reading

News

Kaduna Mando Garage Explosion Not Bomb- Police

The command’s Public Relations Officer, DSP Mansir Hassan, said in a statement that the incident occurred at about 3:00a.m. on Sunday at the premises of Silver Luxury Travel, a bus company operating at Mando Garage, Kaduna.

Published

on

By

16 Views

The Kaduna State Police Command has confirmed that an explosion at the Lagos Garage Terminus in Mando area of Kaduna State today wasn’t a bomb explosion, but a CNG-powered luxury bus that ruptured after its gas tank was overfilled.

The incident occurred during the early hours of Sunday with the loud blast drawing attention from commuters, traders, and nearby residents, prompting a swift response from emergency services.

The command’s Public Relations Officer, DSP Mansir Hassan, said in a statement that the incident occurred at about 3:00a.m. on Sunday at the premises of Silver Luxury Travel, a bus company operating at Mando Garage, Kaduna.

He said detectives were immediately deployed to the scene after a loud sound was reported, and that the vehicle has been safely evacuated, while normal business activities have since resumed at the motor park.

He noted that no casualties or loss of property were recorded, and normal activities had since resumed in the area.

Continue Reading

Trending