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NBS Rebases January Inflation Basket to 24.48%

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

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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.”

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JAMB releases Thursday’s UTME results

In a statement issued by the Board on Friday, and signed by its spokesperson Fabian Benjamin, candidates were advised to check their results by sending “UTMERESULT” via SMS to 55019 or 66019, using the same phone number (SIM) used during registration.

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The Joint Admissions and Matriculation Board has released the results of candidates who sat for the 2026 Unified Tertiary Matriculation Examination on Thursday, April 16, 2026, with a total of 632,788 results now available for viewing.

In a statement issued by the Board on Friday, and signed by its spokesperson Fabian Benjamin, candidates were advised to check their results by sending “UTMERESULT” via SMS to 55019 or 66019, using the same phone number (SIM) used during registration.

JAMB clarified that at this stage, candidates can only view their results, as printing options are not yet available.

It also issued a strong warning against attempts to manipulate or alter result messages received from official channels, stressing that such actions constitute a criminal offence.

The Board added that it is already taking action against offenders, revealing that some suspects are currently in custody.

“Currently, two candidates and one parent are in custody for engaging in result falsification using AI and other electronic means. Any candidate found culpable will face the full consequences of the law,” it stated.

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Arise TV Deputy Director News Win Editor of The Year Award

The award’s: “In recognition of your exceptional editorial prowess, insightful journalism, and outstanding contributions to media excellence in Nigeria.”

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Deputy Director of News, Arise TV, Ohi OIdiai, has won Editor Of The Year 2026 Awards category, courtsey of The Industry Newspaper.

In a statement, the organiser said that the award was: “In recognition of your exceptional editorial prowess, insightful journalism, and outstanding contributions to media excellence in Nigeria.”

Details later…

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JUST IN: Tinubu Signs ₦68.32 Trillion 2026 Budget

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……Extends 2025 Implementation to June 30

President Bola Ahmed Tinubu has given assent to the 2026 Appropriation Bill, approving a record aggregate expenditure of ₦68.32 trillion for the fiscal year.

The President also signed legislation extending the implementation period of the 2025 budget specifically its capital component from March 31, 2026, to June 30, 2026.

According to details of the new budget, ₦4.799 trillion is allocated for statutory transfers, while debt service is pegged at ₦15.8 trillion. Recurrent expenditure stands at ₦15.4 trillion, with the Development Fund for Capital Expenditure receiving ₦32.2 trillion.

Capital spending thus accounts for approximately 50 percent of the total budget, reflecting the administration’s focus on infrastructure development, national security, economic stability, and inclusive growth.

A statement from the State House described the allocations as striking a strategic balance between mandatory obligations, debt servicing, day-to-day government operations, and productive capital investments aimed at boosting productivity and improving the quality of life for Nigerians.

President Tinubu also assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which formally extends the 2025 capital projects window. Officials said the extension will allow Ministries, Departments, and Agencies (MDAs) to complete advanced-stage infrastructure and development projects, improve execution rates, and deliver better value for public funds.

The 2026 Appropriation Act takes effect from April 1, 2026, paving the way for full implementation in line with the Renewed Hope Agenda.

The President has directed all MDAs to ensure disciplined, transparent, and efficient use of resources, with strict emphasis on value for money and timely project delivery.

President Tinubu commended the National Assembly for its swift consideration and passage of the budget, describing it as a demonstration of diligence, cooperation, and patriotism.

He reaffirmed the need for continued collaboration between the Executive and Legislative branches to advance national development goals.

The President further assured Nigerians of his administration’s commitment to deepening fiscal reforms, boosting revenue generation, stimulating economic growth, creating jobs, and strengthening social protection programmes.

The announcement was made by Bayo Onanuga, Special Adviser to the President on Information & Strategy, on April 17, 2026.

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