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

220 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

FG Launches Counter Terrorism Strategic Plan 2025 – 2030

For ours, the question is clear: How do we secure our nation, safeguard our people and set Nigeria irreversibly on the path of peace, growth and stability?“ The Strategic Plan 2025 – 2030 answers this question with vision, discipline and ambition.

Published

on

By

11 Views

The President of the Senate, Godswill Akpabio has formally unveiled Nigeria’s Counter Terrorism Strategic Plan 2025 – 2030.

The Strategic Plan was put together by the National Counter Terrorism Centre in the Office of the National Security Adviser.

In his Keynote address, Akpabio said the occasion was not merely the launch of another policy document but a defining moment in the nation’s journey.

“It is a moment when Nigeria again reaffirms that our people deserve to live without fear, that our children deserve a future of peace, and that our nation must be secured to prosper,” he said.

The Senate President remarked that every generation faced a question that history demanded it must answer.

“For ours, the question is clear: How do we secure our nation, safeguard our people and set Nigeria irreversibly on the path of peace, growth and stability?“ The Strategic Plan 2025 – 2030 answers this question with vision, discipline and ambition.

It offers a framework for transforming our institutions, modernising our security architecture, strengthening national resilience and expanding partnerships across government, industry, civil society and the international community”

“As President of the Senate, I have seen how insecurity weakens the foundations of development. Investors withdraw, schools close, farmers abandon their fields, and hope retreats from the hearts of our young people.

That is why a pragmatic, forward-looking and implementation-driven plan such as this is timely, necessary and welcome.”

(Independent)

Continue Reading

News

Delta Police Dismiss Bandits Invasion of Girls Secondary School Kwale

Published

on

By

20 Views

• Commissioner of Police, Delta State Command, CP Olufemi Abaniwonda

The Delta State Police Command said that the rumoured invasion of Girls’ Secondary School, Utagba-Ogbe, Kwale, today was entirely false and misleading.

In a statement, the Commissioner of Police, Delta State Command, CP Olufemi Abaniwonda, clarified that upon receiving the report, the Command immediately ordered a coordinated response and deployed the DCO Kwale Division, SP Udofia Kufre, to lead a patrol team for immediate on-the-ground verification and security assessment.

The Vice Principal of the school and the security man on duty were interviewed, and both confirmed that no attack occurred and that the panic emanated solely from misinformation among students.

As a precautionary measure, adjoining schools within the Kwale axis were visited and all were found to be calm, safe, and in a normal academic session.

Parents who rushed to pick up their children are advised to remain calm, as the earlier rumour has been decisively addressed and normalcy has been fully restored.

CP Olufemi Abaniwonda warns strongly against the spread of unverified rumours capable of causing fear or disrupting academic activities.

The CP reiterated the Command’s unwavering resolve to respond swiftly to any credible threat while ensuring the safety of all educational institutions across the state.

He further urges school authorities to strengthen internal communication, promptly report suspicious observations to the nearest police formation, and maintain close collaboration with local security outfits to enhance monitoring around school environments.

Continue Reading

News

Okonjo-Iweala Decries Kidnappings of school children, teachers

As a mother I am greatly saddened by the kidnappings in our country, particularly of our children and teachers from places of learning.

Published

on

By

49 Views

The Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, has expressed worries over the escalating wave of kidnappings across Nigeria, particularly the abduction of schools children and teachers.

Okonjo-Iweala in a post on X said she was “greatly saddened” by the disturbing trend, stressing that the attacks on learning institutions have inflicted fear, trauma, and uncertainty on families nationwide.

“As a mother I am greatly saddened by the kidnappings in our country, particularly of our children and teachers from places of learning.

” My heart goes out to the children and all those kidnapped and to their families living in fear and uncertainty,” she said.

She prays for the safe return of all abductees and strength for parents and relatives enduring the ordeal.

“May those taken be found, rescued, and returned safely into the arms of those who love them.

We pray God for their protection and strength for every parent and relative waiting,” she added.

Her comments come amid a series of mass abductions targeting schools and farming communities in several states in Nigeria, which has led to renewed calls for urgent action to protect citizens and restore security nationwide.

Continue Reading

Trending