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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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Lagos Fire Service Contains Warehouse Fire at Amuwo-Odofin Industrial Area (Photos)

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The Lagos State Fire and Rescue Service (LSFRS) responded to a distress call at 20:29 hours regarding a fire outbreak at an expansive warehouse located on Coker Market Road, Amuwo-Odofin Industrial Layout, Mile 2, Lagos.

Firefighting crews arrived the scene promptly at 20:40 hours. Firefighters from the Ajegunle, Sari Iganmu, Okota, and Alausa Fire Stations were immediately mobilised to combat the blaze.

The affected warehouse was stocked with chemical materials stored in hundreds of 200-litre drums, posing significant risk.

Through swift and coordinated intervention, the fire was brought under control, preventing further escalation and damage to adjoining facilities. Fortunately, no casualties were recorded.

The cause of the fire outbreak is yet to be ascertained, as investigations are currently ongoing to determine the circumstances surrounding the incident.

The Lagos State Fire and Rescue Service reiterates its commitment to safeguarding lives and property and urges residents and business owners to adhere strictly to fire safety regulations at all times.

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Senator Oluremi Tinubu Calls for Human-Centered Approach to AI in Education on International Day of Education 2026

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In a message issued to mark the International Day of Education, Her Excellency Senator Oluremi Tinubu, First Lady of the Federal Republic of Nigeria, urged Nigerians and the global community to prioritize human agency amid the rise of artificial intelligence in learning environments.

This year’s observance, held annually on January 24 under United Nations auspices, carries the theme “AI and Education: Preserving Human Agency in a World of Automation.”

The First Lady emphasized that education continues to serve as the most powerful instrument for equipping individuals with knowledge, values, creativity, and ethical judgment essential for success in a fast-changing, technology-driven era.

“As we embrace artificial intelligence and innovation, we must ensure that technology serves humanity, not the other way around,” Senator Tinubu stated.

“Humans must remain the drivers of AI, harnessing innovation while preserving the values that define us and sustain development.

”Highlighting Nigeria’s national priorities, she reaffirmed the government’s commitment to investing in quality and inclusive education that enables children and youth to develop critical thinking, act with responsibility, and approach the future with confidence and compassion.

The First Lady’s message aligns with broader global discussions on balancing technological advancement with the irreplaceable role of human insight in education systems.

She concluded her address with warm greetings:

“Happy International Day of Education 2026.

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Update on Fire outbreak at Sapid Container Terminal 2, Mile 2, Lagos; No Casualties Reported

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Emergency responders successfully contained a fire outbreak at the No Sapid Container Terminal 2 area in Mile 2 on Saturday, January 24, 2026, with no loss of life or injuries recorded.

The Lagos State Emergency Management Agency (LASEMA) Eagle Squad, working alongside the Lagos State Fire Service, LRU Fire, and Nigeria Police, swiftly intervened to prevent the blaze from spreading to neighbouring structures.

According to a situation report issued by LASEMA Permanent Secretary Dr. Olufemi Damilola Oke-Osanyintolu, the fire originated from a building behind the container terminal where multiple drums of chemicals and oils were stored — a factor that contributed to the intensity and rapid spread of the flames.

While the fire was still raging at the time of the report due to the highly combustible materials involved, joint firefighting efforts continued throughout the day to bring it fully under control.

Authorities have not yet disclosed the extent of property damage or any potential environmental concerns arising from the incident, but the absence of casualties has been attributed to the prompt and coordinated response by the emergency teams.

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