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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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PDP Slams Tinubu’s Ambassadorial List as ‘Scandalous,’ Demands Withdrawal

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The Peoples Democratic Party (PDP) has strongly condemned President Bola Tinubu’s recently submitted list of ambassadorial nominees, describing it as “scandalous” and a direct reflection of the administration’s values.

In a press release signed by National Publicity Secretary Comrade Ini Ememobong, the PDP criticized the inclusion of “disgraced propagandists, characterless politicians, and public officials” with “integrity deficits” and histories of “anti-democratic activities.”

The party called the nominations a “sad commentary” on Nigeria’s diplomatic representation, arguing they undermine the country’s global standing.

The PDP expressed particular outrage over the nomination of Prof. Mahmood Yakubu, the immediate-past Chairman of the Independent National Electoral Commission (INEC).

The party accused Yakubu’s tenure of being marred by “double-speaks, flip-flops, and undelivered promises,” which they claim facilitated the current administration’s rise. Offering him an ambassadorial post now, the PDP alleged, is a “skewed reward system” intended to incentivize the new INEC Chairman to deliver “flawed elections” in 2027.

“A nominee is a clear and direct reflection of the values and estimation of the nominator,” the statement read, asserting that the list—submitted nearly three years into Tinubu’s term—reveals a “paucity of excellent people” within the President’s circle.

The opposition party warned that appointing ambassadors with “tainted political profiles” would lead to a “diplomatic all-time low,” as a nation’s international respect hinges on the integrity of its representatives.

The PDP demanded that President Tinubu immediately withdraw the list and renominate candidates with “stellar democratic credentials and high moral standing” capable of commanding global respect.

The controversy erupts as the National Assembly prepares to screen the 32 additional nominees announced earlier this week, intensifying political tensions ahead of the 2027 elections. The Presidency has yet to respond to the PDP’s allegations.

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Jonathan Updates Tinubu on Guinea-Bissau Developments

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Former Nigerian President Goodluck Jonathan met with President Bola Tinubu on Thursday to discuss the ongoing political standoff in Guinea-Bissau, shortly after his return to Abuja.

The briefing comes amid heightened tensions in the West African nation, where political instability has persisted following recent disputes over government formation and parliamentary sessions.

Jonathan, who has been actively involved in regional mediation efforts, provided Tinubu with a detailed update on the situation.

Speaking at the State House, moments ago , Jonathan who had been in Guinea Bissau as part of a joint observer mission for the African Union, ECOWAS and the West African Elders Forum reiterates that what happened there was neither a traditional military coup nor a palace coup.

He describes it instead as “a ceremonial coup”, carried out as a kind of ceremony led by the head of state himself.

He is urging ECOWAS leaders to engage directly with the military authorities in the country , secure the release of the detained opposition candidate, whom he says committed no offence and ensure the official results are announced.

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Tinubu Appoints 32 New Ambassadors

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President Bola Ahmed Tinubu has sent the names of 32 ambassadorial nominees to the Senate for confirmation, days after he sent the first batch of three names.

In two separate letters to the Senate President, Godswill Akpabio, President Tinubu asked the Senate to consider and confirm expeditiously 15 nominees as career ambassadors and 17 nominees as non-career ambassadors.

There are four women on the career ambassadors’ list and six women on the non-career ambassadors’ list.

Among the non-career ambassador designates are Barrister Ogbonnaya Kalu from Abia, a former presidential aide, Reno Omokri (Delta), former chairman of the Independent National Electoral Commission (INEC), Mahmud Yakubu, former Ekiti first lady, Erelu Angela Adebayo, and former Enugu governor, Ifeanyi Ugwuanyi.

Others are Tasiu Musa Maigari, the former speaker of the Katsina House of Assembly, Yakubu N. Gambo, a former Commissioner in Plateau State and former deputy executive secretary of the Universal Basic Education Commission (UBEC).

Professor Nora Ladi Daduut, a former senator from Plateau; Otunba Femi Pedro, a former deputy governor of Lagos State; Chief Femi Fani-Kayode, a former aviation minister from Osun State; and Barrister Nkechi Linda Ufochukwu from Anambra State are on the nomination list.

Also on the list are former First Lady of Oyo, Fatima Florence Ajimobi, former Lagos Commissioner, Lola Akande, former Adamawa Senator, Grace Bent, former governor of Abia, Victor Okezie Ikpeazu, Senator Jimoh Ibrahim, businessman, lawyer and Senator from Ondo State, and the former ambassador of Nigeria to the Holy See, Ambassador Paul Oga Adikwu from Benue State.

Among the nominees for career ambassador and high commissioner-designates are: Enebechi Monica Okwuchukwu (Abia), Yakubu Nyaku Danladi (Taraba), Miamuna Ibrahim Besto (Adamawa), Musa Musa Abubakar (Kebbi), Syndoph Paebi Endoni (Bayelsa), Chima Geoffrey Lioma David (Ebonyi) and Mopelola Adeola-Ibrahim (Ogun).

The other nominees are Abimbola Samuel Reuben (Ondo), Yvonne Ehinosen Odumah (Edo), Hamza Mohammed Salau (Niger), Ambassador Shehu Barde (Katsina), Ambassador Ahmed Mohammed Monguno (Borno), Ambassador Muhammad Saidu Dahiru (Kaduna), Ambassador Olatunji Ahmed Sulu Gambari (Kawara) and Ambassador Wahab Adekola Akande (Osun).

The new nominees are expected to be posted to countries with which Nigeria maintains excellent and strategic bilateral relations, such as China, India, South Korea, Canada, Mexico, the United Arab Emirates, Qatar, South Africa, Kenya, and to Permanent Missions such as the United Nations, UNESCO, and the African Union. All the nominees will know their diplomatic assignments after their confirmation by the Senate.

Last week, President Tinubu sent three ambassadorial nominees for screening and confirmation. The nominees were Ambassador Ayodele Oke (Oyo), Ambassador Amin Mohammed Dalhatu (Jigawa), and Retired Colonel Lateef Kayode Are (Ogun). All three are in the pot for posting to the UK, USA, or France after their confirmation.

President Bola Ahmed Tinubu said more nominees for ambassadorial positions will be announced soon.

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