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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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IGP Disu Wears New DIGs Insignia

Disu, during the ceremony today urged the new Deputy Inspectors-General of Police to uphold discipline, integrity and professionalism in the discharge of their duties.

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• IGP Tunji Disu

The Inspector-General of Police, Olatunji Disu has decorated the newly promoted senior officers at the Nigeria Police Force Headquarters in Abuja .

Disu, during the ceremony today urged the new Deputy Inspectors-General of Police to uphold discipline, integrity and professionalism in the discharge of their duties.

He said the elevation to the rank of Deputy Inspector-General of Police was not merely the wearing of new insignia but a recognition of years of dedicated service and a call to greater responsibility in the leadership of the force.

Disu emphasised that the rank represents one of the highest levels of professional trust within the police and demands wisdom, courage and a strong commitment to justice and service.

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BREAKING: Court of Appeal Upholds Federal High Court Ruling Halting PDP’s Ibadan National Convention

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In a major ruling that deepens the ongoing leadership crisis in Nigeria’s main opposition party, the Court of Appeal in Abuja has affirmed the decision of the Federal High Court restraining the Peoples Democratic Party (PDP) from proceeding with its controversial National Convention held in Ibadan, Oyo State, on November 15-16, 2025.

A three-member panel of the appellate court, led by Justice Mohammed Danjuma, delivered a unanimous judgment on Monday dismissing the appeal filed by the Tanimu Turaki-led faction of the PDP.

The court upheld the October 31, 2025, ruling by Justice James Omotosho of the Federal High Court, which barred the Independent National Electoral Commission (INEC) from recognizing, validating, or accepting the outcome of the Ibadan convention.

The Appeal Court held that the PDP’s decision to proceed with the convention violated key provisions of the Nigerian Constitution, the Electoral Act, INEC’s guidelines on party primaries and conventions, and the PDP’s own Constitution.

It emphasized that the Federal High Court’s intervention was justified to prevent illegality and to protect the rights of excluded delegates from over 14 states where congresses had not yet been conducted.

The panel further criticized INEC for failing to adequately monitor the party’s processes as required by law. In a related aspect of the judgment, a fine of ₦2 million was imposed on the Turaki-led faction.

Rejecting arguments from the appellants that the matter was purely an intra-party affair outside judicial jurisdiction, the Court of Appeal ruled that violations of constitutional provisions, the Electoral Act, or a political party’s constitution confer jurisdiction on the courts.

This decision marks the first in a series of nine consolidated appeals stemming from the PDP’s protracted internal crisis, which pits the Turaki faction against a rival caretaker leadership aligned with FCT Minister Nyesom Wike and headed by Abdulrahman Mohammed.

The appeals challenge multiple Federal High Court rulings that halted the Ibadan convention and recognized the caretaker committee.

The ruling represents a significant victory for the Wike-aligned faction and could have far-reaching implications for the PDP’s leadership structure, upcoming elections, and INEC’s recognition of the party’s national officers.

Further judgments in the remaining appeals are expected later today or in the coming days as the Court of Appeal continues its sittings on the consolidated cases.

The PDP has yet to issue an official reaction, though sources indicate the Turaki faction may pursue further appeals to the Supreme Court.

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IWD: My greatest investments are my three daughters – Otedola

Tolani is a singer, Florence a renowned disc jockey and Temi is an actress and fashion blogger.

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“My greatest investments are my three daughters who make me proud every day. Happy International Women’s Day my angels,” wrote the billionaire businessman, Femi Otedola.

His three daughters are Tolani, Florence (DJ Cuppy) and Temi.

The Chairman of First Holdco Plc stated this in an X post on Sunday to commemorate International Women’s Day.

The billionaire’s daughters are high flyers in various areas of personal endeavour. Tolani is a singer, Florence a renowned disc jockey and Temi is an actress and fashion blogger.

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