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NBS Rebases January Inflation Basket to 24.48%

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

Published

11 months ago

February 18, 2025

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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.”

Related Topics:Featured Food Inflation Inflation

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I’m Proudly Nigerian, says Fashola

Former Lagos State Governor and immediate past Minister of Works, Babatunde Fashola, made the declaration on Tuesday in Abuja during his keynote address at the Nigeria Reputation Summit 2026, organised by the Nigerian Institute of Public Relations, where he spoke extensively on national identity, migration, patriotism and Nigeria’s global image.

Published

8 hours ago

January 20, 2026

OCHEFA

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” I remain firmly Nigerian by choice, conviction and identity.”

He stressed the need for Nigerians, at home and abroad, to take collective ownership of the country and its problems.

“I don’t think we own Nigeria enough. So, I heard some of our colleagues and our compatriots who, by virtue of the 1999 Constitution, have dual citizenships. But I have only one,” said Fashola.

“And when they talk to me, they say, your country. I say, stop. It’s our country. Your problem is our problem. There must be a common ownership on every platform. If we have common ownership, we will solve it. So, from my childhood experience, I tell people I’m not just a proud Nigerian, I’m an arrogant one. I’m arrogant about my country.“I tell people that I have not received one day’s education outside this country.

All my education was here. So, proudly made in Nigeria. Arrogantly, too. So everything, every inch that we think that we have lost, we can get back if we decide to,” he stated.

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Opral Benson is alive, safe and not missing – AREF , Family

AREF confirms that Mrs. Benson is currently in Liberia, her presence there is voluntary and known.

Published

9 hours ago

January 20, 2026

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The African Refugees Foundation (AREF) and family source said that its president, Opral Benson, popularly known as the Iya Oge of Lagos, is alive, safe and not missing.

Her family earlier said that the 90-year-old was last seen on January 13 and had not returned home since then.

However, a statement , titled, Dear Friends, RE: My Mum, signed by her daughter, Bimbo, confirmed that Benson was in Liberia.

Also, the chief executive officer of AREF, Olujimi Olusola III, Said that Benson is hale and hearty, and there is no cause for concern.“

AREF confirms that Mrs. Benson is currently in Liberia, her presence there is voluntary and known.

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Lagos urges residents to prepare for 64 days traffic from Lekki Phase 1–Ajah Bridge as reconstruction begins

The Special Adviser to the Governor on Infrastructure, Olufemi Daramola, said that the rehabilitation works on Sections 2 and 3 of the expressway will commence on Sunday, 25 January 2026, and last for an estimated 64 days.

Published

12 hours ago

January 20, 2026

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• Sangotedo – Bogije section of Lekki -Epe expressway / Ohibaba.com

The Lagos State Government on Tuesday announced a 64-day traffic diversion for the reconstruction of the Ajah Bridge to Admiralty section (inbound Lagos) of the Lekki–Epe Expressway.

Daramola said that the project will follow a traffic management plan, with work carried out intersection by intersection rather than along the entire corridor at once.

Construction will be carried out both day and night to accelerate completion.

He explained that though a stakeholder meeting had been held late last year with plans to begin work, the project was postponed due to the yuletide festivities.

The festivities are over, and the state government has instructed the contractor to move to site to commence work on Sunday,” he said.

Intersections will be worked on at night to maintain better traffic flow.