News
NBS Rebases January Inflation Basket to 24.48%
The bureau put food inflation at 26.08 percent year-on-year.
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
FG to launch new women, youth empowerment fund
The platform – ‘The Women and Youth Financial and Economic Inclusion (WYFEI), will be unveiled on Wednesday by the Vice-President Kashim Shettima , at the State House Conference Centre, Abuja.
• Vice-President Kashim Shettima
The Federal Government is set to launch a new learning fund and empowerment platform targeted at unlocking the potential of Nigerian children, women and youths.
The platform – ‘Women and Youth Financial and Economic Inclusion (WYFEI), will be unveiled on Wednesday by the Vice-President Kashim Shettima , at the State House Conference Centre, Abuja.
This is contained in a statement issued on Monday by the Senior Special Assistant to the President on Media and Communications (Office of the Vice President), Stanley Nkwocha.
“The initiative, convened by the Office of the Vice President in collaboration with Sterling One Foundation, the United Nations System and other ASIS partners, will form part of the outcomes of the Africa Social Impact Summit (ASIS) 2026 High-Level Policy Engagement,” said the statement.
He emphasised that the WYFEI is the country’s flagship platform for advancing women and youth economic empowerment through compact-based delivery, co-investment frameworks and performance accountability.
“This will make Nigeria the implementation platform of the African Union’s WYFEI programme.
“WYFEI will also be launched in other countries after Nigeria.”
News
FCTA Workers, NLC Protest Unpaid Arrears, Demand Wike’s Removal
Federal Capital Territory Administration (FCTA) workers, supported by the Nigeria Labour Congress (NLC), staged a protest on Monday at the National Industrial Court in Abuja.
The demonstration highlighted ongoing grievances over unpaid promotion arrears, poor working conditions, and other unresolved welfare issues.
The workers are currently engaged in a total and indefinite strike that has disrupted operations across FCTA departments. Carrying placards with inscriptions such as “Pay promotion arrears,” “Enough is Enough,” “No working tools,” “Wike must go!!,” and “Abuja no be Rivers,” protesters demanded the immediate settlement of outstanding entitlements and, in some cases, called for the removal of FCT Minister Nyesom Wike.
The NLC fully backed the industrial action, stating that the protest and strike followed repeated failed negotiations with FCTA leadership.
Union officials emphasized that months of complaints regarding delayed promotions, inadequate tools, and deteriorating workplace conditions had left workers with no alternative but to escalate the matter.
The demonstration coincided with a court session on the dispute. The National Industrial Court heard arguments in a suit filed by the FCTA authorities challenging the legality of the strike.
Justice Emmanuel Danjuma adjourned proceedings, with a ruling on motions—including any to halt the industrial action—scheduled for Tuesday, January 27, 2026.
The labour dispute has persisted for months, with unions rejecting FCTA claims that certain demands have been met, insisting that critical issues like promotion arrears remain unaddressed.
The strike has reportedly led to widespread disruptions, including school closures in some areas as teachers joined the action.
Security personnel were present at the court premises as protesters chanted solidarity songs and maintained a peaceful picket throughout the day.
News
BREAKING: Governor Soludo Orders One-Week Closure of Onitsha Main Market Over Non-Compliance with Anti-Sit-at-Home
In a decisive move to enforce the abolition of the long-standing Monday “sit-at-home” order in Anambra State, Governor Professor Chukwuma Charles Soludo has directed the immediate closure of the iconic Onitsha Main Market for one full week.
The governor’s action stems from reports that traders at the bustling market failed to open for business on Monday, January 26, 2026, in defiance of repeated state government directives mandating full resumption of commercial activities every Monday. The sit-at-home practice, originally linked to security concerns and separatist agitations in the Southeast, has been officially abolished by the Anambra State Government as part of broader efforts to restore normalcy, boost economic activity, and improve security.
Governor Soludo, who has consistently warned that non-compliant markets, shops, or plazas would face sealing for one week (and potentially longer for repeated violations), invoked this penalty following the apparent non-compliance at Onitsha Main Market—one of Nigeria’s largest and most economically vital commercial hubs.
The closure is expected to remain in effect for seven days, during which trading activities will be suspended. State authorities have emphasized that the measure aims to send a strong message against any lingering adherence to the sit-at-home order, which has previously crippled commerce across parts of the region.
Details on enforcement mechanisms, potential extensions of the closure, and reactions from market leaders and traders are still emerging. The state government has reiterated its commitment to ensuring Mondays are fully operational business days statewide, with similar warnings issued to other markets, schools, and civil servants (including threats of salary deductions for non-compliance).
This development comes amid ongoing efforts by the Soludo administration to end the sit-at-home phenomenon, which has seen varying levels of observance despite improved security in recent times.
Further updates will follow as more information becomes available.
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