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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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Edo Governor Appoints Dr. Ebojele Akhere Patrick as New Chief Press Secretary

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Edo State Government has announced the appointment of seasoned journalist, Dr. Ebojele Akhere Patrick, as the new Chief Press Secretary (CPS) to Governor Monday Okpebholo.

The appointment, approved by His Excellency, Senator Monday Okpebholo, takes immediate effect.

Dr. Ebojele brings decades of experience in journalism, public administration, research, and lecturing. He previously served as Edo/Delta Correspondent for Channels Television and held correspondent roles with New Nigerian Newspaper, Champion Newspaper, and Comet Newspapers.

A statement signed by the Secretary to the State Government, Umar Musa Ikhilor, described the appointment as part of the administration’s deliberate effort to strengthen government communication, promote transparency, and ensure effective dissemination of policies and programmes to the people of Edo State.

Dr. Ebojele succeeds Mr. Fred Itua, who has been commended by the government for his service. Mr. Itua is expected to be reassigned to another role in due course after completing the formal handover.

The new CPS is widely regarded in media and academic circles for his professionalism and depth of knowledge in public affairs.

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BREAKING: Retired General Christopher Musa Sworn In as Nigeria’s New Defence Minister Amid Surging Security Crisis

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In a pivotal move to bolster the nation’s faltering security apparatus, Retired General Christopher Gwabin Musa was officially sworn in today as Nigeria’s Minister of Defence, capping a whirlwind nomination process that underscores President Bola Tinubu’s aggressive push to combat rampant terrorism, banditry, and kidnappings.

The ceremony, held at the Presidential Villa in Abuja, marked the culmination of Musa’s rapid ascent following his nomination by Tinubu on December 2 and a grueling five-hour Senate confirmation hearing the previous day.

Clad in a traditional brown kaftan and hula cap, the 58-year-old former Chief of Defence Staff (CDS) – who retired from active military service in October 2025 – took the oath of office in the presence of family, top government officials, and fellow security chiefs, vowing to “go after” insurgents “fully” without retreat.

Musa’s appointment comes at a dire moment for Nigeria, where insecurity has reached alarming heights. A National Bureau of Statistics report revealed that Nigerians shelled out a staggering N2.23 trillion ($1.3 billion) in ransom payments between May 2023 and April 2024 alone, fueling a cycle of mass abductions – including recent school kidnappings in Kebbi State that drew fierce public backlash over alleged military withdrawals.

During his Senate grilling, Musa addressed these failures head-on, promising an immediate probe into the Kebbi incident and declaring, “The military is not known for cowardice.”

He emphasized leveraging technology for tracking ransom flows and building a national database to monitor citizens electronically, while urging an end to payments that embolden criminals.Born on December 25, 1967, in Sokoto State, Musa brings a storied 34-year military career to the role.

A graduate of the Nigerian Defence Academy with a Bachelor of Science degree, he rose through the ranks as Commanding Officer of the 73 Battalion, Theatre Commander for Operation Hadin Kai against Boko Haram, and CDS from June 2023 until his retirement.

His accolades include the 2012 Colin Powell Award for Soldiering Excellence, and he holds advanced degrees in military science from institutions in China and the U.S.

In his post-swearing-in remarks, Musa outlined a multi-pronged strategy: fostering inter-agency collaboration, empowering communities to share intelligence, reinforcing the Safe Schools Initiative, and overhauling outdated security laws.

He warned that terrorists view Nigeria as a “lucrative target” due to its perceived wealth, calling for zero tolerance and robust border controls to thwart foreign infiltration.

Senate President Godswill Akpabio, who presided over the confirmation, congratulated Musa and implored him to wield his office decisively in the war on crime.

Analysts see Musa’s insider knowledge as a game-changer, potentially ushering in a “new era” for Nigeria’s defence amid criticisms of fragmented responses to threats.

As Musa assumes command, all eyes are on whether his tenure will finally stem the tide of violence that has claimed thousands of lives and displaced millions.

The defence portfolio now rests on a general who has stared down defeat before – and vows to do so again.

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BREAKING: Tinubu Nominates Ibas, Dambazau, Others As Ambassadors

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President Bola Ahmed Tinubu has forwarded a fresh list of 65 ambassadorial nominees to the Senate for confirmation, Very Nigerian reports.

The request was announced on Thursday by Senate President Godswill Akpabio during plenary.

The new list comprises 34 career ambassadors and high commissioners, as well as 31 non-career nominees, bringing the total to 65.

Among the notable career nominees are Sulu-Gambari Olatunde Ahmed from Kwara State and Segun Ige from Edo State.

Prominent non-career nominees include Senator Folasade Grace Bent from Adamawa, Senator Solomon Ita Enang from Akwa Ibom, and Senator Jimoh Ibrahim from Ondo State.

Tinubu also named Chioma Ohakim, former First Lady of Imo State, and Abdulrahman Dambazau, former Minister of Interior and ex-Chief of Army Staff, as non-career ambassadors. Their names were not included in the earlier batch released by the Presidency.

This new submission comes days after the President transmitted the first set of three ambassadorial nominees to the Senate.

Those nominees—Kayode Are (Ogun), Aminu Dalhatu (Jigawa), and Ayodele Oke (Oyo)—have already been screened by the Senate Committee on Foreign Affairs.

With the latest batch, the Senate has now referred all 65 nominees to the same Foreign Affairs Committee, which has been mandated to complete the screening exercise within one week.

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